Bank of New York Mellon Corp Buys 3,838 Shares of James Hardie Industries PLC. (NYSE:JHX)

Bank of New York Mellon Corp grew its stake in James Hardie Industries PLC. (NYSE:JHX) by 7.4% in the first quarter, HoldingsChannel reports. The fund owned 55,944 shares of the construction company’s stock after acquiring an additional 3,838 shares during the period. Bank of New York Mellon Corp’s holdings in James Hardie Industries were worth $1,318,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Bank of America Corp DE raised its stake in shares of 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 worth $13,963,000 after acquiring an additional 73,504 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of James Hardie Industries by 2,189.1% in the first quarter. GAMMA Investing LLC now owns 32,207 shares of the construction company’s stock worth $759,000 after acquiring an additional 30,800 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of James Hardie Industries in the fourth quarter worth about $1,100,000. Envestnet Asset Management Inc. grew its position in shares of James Hardie Industries by 23.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 90,741 shares of the construction company’s stock worth $2,796,000 after buying an additional 17,082 shares during the period. Finally, Captrust Financial Advisors grew its position in shares of James Hardie Industries by 16.0% during the 4th quarter. Captrust Financial Advisors now owns 12,925 shares of the construction company’s stock worth $398,000 after buying an additional 1,787 shares during the period. 7.96% of the stock is owned by institutional investors.

James Hardie Industries Stock Down 1.2%

James Hardie Industries stock opened at $26.97 on Thursday. The stock has a market capitalization of $11.59 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 1.83 and a beta of 1.75. James Hardie Industries PLC. has a twelve month low of $19.72 and a twelve month high of $43.57. The company has a quick ratio of 1.67, a current ratio of 2.10 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average of $26.08 and a 200-day moving average of $27.46.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings data on Tuesday, May 20th. The construction company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The business had revenue of $971.50 million during the quarter, compared to the consensus estimate of $983.86 million. James Hardie Industries had a return on equity of 31.52% and a net margin of 10.94%. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.61 EPS. On average, equities research analysts anticipate that James Hardie Industries PLC. will post 1.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on JHX shares. William Blair started coverage on shares of James Hardie Industries in a research report on Friday, June 27th. They set an “outperform” rating for the company. Robert W. Baird started coverage on shares of James Hardie Industries in a research report on Friday, July 11th. They set an “outperform” rating and a $32.00 price target for the company. Wall Street Zen cut shares of James Hardie Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Truist Financial lowered their price target on shares of James Hardie Industries from $45.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, May 21st. Finally, Macquarie upgraded shares of James Hardie Industries from a “neutral” rating to an “outperform” rating in a research report on Monday. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $37.34.

James Hardie Industries Company 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.