Drive Wealth Management LLC Acquires New Position in James Hardie Industries plc (NYSE:JHX)

Drive Wealth Management LLC bought a new position in James Hardie Industries plc (NYSE:JHX) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 5,491 shares of the construction company’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also made changes to their positions in JHX. Allspring Global Investments Holdings LLC acquired a new stake in shares of James Hardie Industries in the first quarter valued at approximately $71,000. Russell Investments Group Ltd. raised its holdings in shares of James Hardie Industries by 17.6% during the 1st quarter. Russell Investments Group Ltd. now owns 51,513 shares of the construction company’s stock worth $2,053,000 after acquiring an additional 7,693 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of James Hardie Industries by 115.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 13,663 shares of the construction company’s stock valued at $553,000 after acquiring an additional 7,334 shares during the last quarter. Clearbridge Investments LLC acquired a new position in shares of James Hardie Industries during the 1st quarter valued at about $221,000. Finally, Lake Street Advisors Group LLC grew its holdings in shares of James Hardie Industries by 8.6% in the first quarter. Lake Street Advisors Group LLC now owns 11,141 shares of the construction company’s stock valued at $451,000 after purchasing an additional 886 shares during the period. 7.96% of the stock is currently owned by institutional investors and hedge funds.

James Hardie Industries Trading Down 0.9 %

Shares of JHX stock opened at $35.82 on Tuesday. James Hardie Industries plc has a 1-year low of $29.88 and a 1-year high of $43.57. The firm has a market cap of $15.38 billion, a PE ratio of 35.47, a price-to-earnings-growth ratio of 4.57 and a beta of 1.76. The company has a 50-day moving average of $35.68 and a two-hundred day moving average of $34.41. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.02 and a quick ratio of 1.44.

James Hardie Industries (NYSE:JHX) last posted its earnings results on Tuesday, November 12th. The construction company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The firm had revenue of $960.80 million during the quarter, compared to the consensus estimate of $973.49 million. James Hardie Industries had a net margin of 11.16% and a return on equity of 35.93%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 EPS. On average, analysts predict that James Hardie Industries plc will post 1.47 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a report on Wednesday, November 6th. StockNews.com cut James Hardie Industries from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th.

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.