Verdence Capital Advisors LLC Has $614,000 Stock Holdings in James Hardie Industries PLC. $JHX

Verdence Capital Advisors LLC increased its stake in shares of James Hardie Industries PLC. (NYSE:JHX) by 36.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,825 shares of the construction company’s stock after purchasing an additional 6,107 shares during the quarter. Verdence Capital Advisors LLC’s holdings in James Hardie Industries were worth $614,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. TD Private Client Wealth LLC increased its position in James Hardie Industries by 70.4% in the 2nd quarter. TD Private Client Wealth LLC now owns 1,101 shares of the construction company’s stock valued at $30,000 after acquiring an additional 455 shares during the period. SVB Wealth LLC acquired a new position in James Hardie Industries in the 1st quarter valued at approximately $57,000. Hilltop National Bank acquired a new position in James Hardie Industries in the 2nd quarter valued at approximately $68,000. Smartleaf Asset Management LLC increased its position in James Hardie Industries by 12.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 3,683 shares of the construction company’s stock valued at $89,000 after acquiring an additional 397 shares during the period. Finally, Russell Investments Group Ltd. increased its position in James Hardie Industries by 49.0% in the 1st quarter. Russell Investments Group Ltd. now owns 7,776 shares of the construction company’s stock valued at $183,000 after acquiring an additional 2,556 shares during the period. 7.96% of the stock is currently owned by institutional investors and hedge funds.

James Hardie Industries Stock Up 4.5%

Shares of NYSE JHX opened at $22.42 on Wednesday. The firm has a market cap of $9.64 billion, a PE ratio of 29.11, a P/E/G ratio of 14.39 and a beta of 1.79. James Hardie Industries PLC. has a 12-month low of $17.85 and a 12-month high of $37.77. The company’s fifty day simple moving average is $21.70 and its 200 day simple moving average is $23.81. The company has a quick ratio of 3.31, a current ratio of 3.76 and a debt-to-equity ratio of 1.12.

James Hardie Industries (NYSE:JHX) last issued its earnings results on Tuesday, August 19th. The construction company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.07). James Hardie Industries had a return on equity of 27.95% and a net margin of 8.75%.The company had revenue of $899.90 million for the quarter, compared to the consensus estimate of $982.60 million. During the same period in the prior year, the company earned $0.41 earnings per share. The firm’s revenue was down 9.3% compared to the same quarter last year. As a group, sell-side analysts forecast that James Hardie Industries PLC. will post 1.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

JHX has been the subject of several recent research reports. Jefferies Financial Group initiated coverage on shares of James Hardie Industries in a research report on Friday, August 8th. They issued a “buy” rating and a $34.00 price target for the company. CLSA raised shares of James Hardie Industries to a “hold” rating in a research note on Wednesday, October 8th. Wolfe Research started coverage on shares of James Hardie Industries in a research note on Tuesday, September 30th. They issued an “outperform” rating and a $25.00 price objective on the stock. Macquarie raised shares of James Hardie Industries from a “neutral” rating to an “outperform” rating in a research note on Monday, July 28th. Finally, Truist Financial upped their price objective on shares of James Hardie Industries from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.39.

About James Hardie Industries

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.