Clearline Capital LP Increases Position in James Hardie Industries PLC. $JHX

Clearline Capital LP lifted its stake in James Hardie Industries PLC. (NYSE:JHX) by 28.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 867,262 shares of the construction company’s stock after buying an additional 190,860 shares during the period. James Hardie Industries makes up 0.9% of Clearline Capital LP’s investment portfolio, making the stock its 22nd largest holding. Clearline Capital LP owned about 0.20% of James Hardie Industries worth $17,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of JHX. Wellington Management Group LLP lifted its stake in shares of James Hardie Industries by 259.7% in the 3rd quarter. Wellington Management Group LLP now owns 50,649,731 shares of the construction company’s stock worth $972,981,000 after acquiring an additional 36,567,726 shares during the period. Capital World Investors acquired a new stake in shares of James Hardie Industries in the 3rd quarter worth $86,121,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of James Hardie Industries in the 4th quarter worth $77,530,000. Renaissance Technologies LLC acquired a new stake in shares of James Hardie Industries in the 4th quarter worth $53,641,000. Finally, Alyeska Investment Group L.P. lifted its stake in shares of James Hardie Industries by 100.9% in the 3rd quarter. Alyeska Investment Group L.P. now owns 4,531,761 shares of the construction company’s stock worth $87,055,000 after acquiring an additional 2,275,762 shares during the period. Institutional investors and hedge funds own 7.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Barclays reduced their price objective on shares of James Hardie Industries from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Thursday, May 21st. Zacks Research cut shares of James Hardie Industries from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 21st. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, James Hardie Industries has a consensus rating of “Moderate Buy” and an average price target of $26.00.

James Hardie Industries Stock Performance

NYSE:JHX opened at $24.58 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average price of $21.63 and a two-hundred day moving average price of $21.73. James Hardie Industries PLC. has a twelve month low of $16.46 and a twelve month high of $29.83. The company has a market capitalization of $14.26 billion, a P/E ratio of 111.71, a price-to-earnings-growth ratio of 13.92 and a beta of 1.80.

James Hardie Industries (NYSE:JHX) last posted its earnings results on Wednesday, May 20th. The construction company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.01. James Hardie Industries had a net margin of 2.15% and a return on equity of 11.13%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the firm posted $0.36 EPS. The firm’s revenue for the quarter was up 44.5% on a year-over-year basis. As a group, research analysts expect that James Hardie Industries PLC. will post 1.24 earnings per share for the current fiscal year.

About James Hardie Industries

James Hardie Industries plc (NYSE: JHX) is a global manufacturer of high-performance fiber cement building products. The company specializes in exterior cladding, trim and soffit, as well as interior backerboard solutions designed for residential and commercial construction. By combining cement, sand and cellulose fibers, James Hardie produces durable, low-maintenance materials that resist moisture, fire and termite damage, catering to builders, contractors and homeowners through a network of distributors and retail channels.

The company’s flagship products include Hardie® Plank® and Hardie® Panel® siding systems, Hardie® BackerBoard® for tile applications, and a range of architectural trim solutions.