Legacy Wealth Asset Management LLC Acquires New Shares in James Hardie Industries plc (NYSE:JHX)

Legacy Wealth Asset Management LLC acquired a new stake in James Hardie Industries plc (NYSE:JHX) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,663 shares of the construction company’s stock, valued at approximately $440,000.

Other large investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings in James Hardie Industries by 19.4% in the fourth quarter. Bank of America Corp DE now owns 453,206 shares of the construction company’s stock valued at $13,963,000 after acquiring an additional 73,504 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in James Hardie Industries by 262.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,286 shares of the construction company’s stock valued at $101,000 after acquiring an additional 2,380 shares during the last quarter. Raymond James Financial Inc. acquired a new position in James Hardie Industries in the fourth quarter valued at approximately $1,100,000. Avantax Advisory Services Inc. lifted its holdings in James Hardie Industries by 8.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 6,838 shares of the construction company’s stock valued at $211,000 after acquiring an additional 522 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in James Hardie Industries by 23.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 90,741 shares of the construction company’s stock valued at $2,796,000 after acquiring an additional 17,082 shares during the last quarter. 7.96% of the stock is currently owned by institutional investors and hedge funds.

James Hardie Industries Stock Up 1.3%

James Hardie Industries stock opened at $23.30 on Monday. James Hardie Industries plc has a twelve month low of $19.72 and a twelve month high of $43.57. The stock’s fifty day simple moving average is $23.35 and its 200-day simple moving average is $29.52. The company has a current ratio of 2.18, a quick ratio of 1.50 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $10.02 billion, a P/E ratio of 23.07, a P/E/G ratio of 6.16 and a beta of 1.80.

James Hardie Industries (NYSE:JHX) last issued its quarterly earnings data on Tuesday, May 20th. The construction company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). James Hardie Industries had a return on equity of 33.65% and a net margin of 11.15%. The firm had revenue of $971.50 million for the quarter, compared to analysts’ expectations of $983.86 million. During the same period in the previous year, the business posted $1.61 EPS. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, equities analysts expect that James Hardie Industries plc will post 1.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

JHX has been the topic of a number of recent analyst reports. Bank of America upgraded James Hardie Industries from an “underperform” rating to a “buy” rating and decreased their price objective for the company from $27.40 to $27.35 in a report on Thursday, March 27th. Macquarie cut James Hardie Industries from an “outperform” rating to a “neutral” rating in a research note on Monday, March 24th. Raymond James set a $55.00 price target on James Hardie Industries in a research note on Monday, March 24th. Morgan Stanley upgraded James Hardie Industries from an “equal weight” rating to an “overweight” rating in a research note on Monday, March 24th. Finally, Wall Street Zen cut James Hardie Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.12.

James Hardie Industries Profile

James Hardie Industries plc manufactures and sells fiber cement, fiber gypsum, and cement bonded building products for interior and exterior building construction applications primarily in the United States, Australia, Europe, New Zealand, and the Philippines. The company operates through North America Fiber Cement, Asia Pacific Fiber Cement, and Europe Building Products segments.