M&T Bank Corp Makes New $293,000 Investment in James Hardie Industries plc (NYSE:JHX)

M&T Bank Corp acquired a new stake in James Hardie Industries plc (NYSE:JHX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,308 shares of the construction company’s stock, valued at approximately $293,000.

Other institutional investors have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC lifted its holdings in James Hardie Industries by 2.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 12,494 shares of the construction company’s stock worth $502,000 after buying an additional 318 shares in the last quarter. Blue Trust Inc. increased its position in shares of James Hardie Industries by 55.7% during the second quarter. Blue Trust Inc. now owns 1,045 shares of the construction company’s stock worth $33,000 after acquiring an additional 374 shares during the period. Bank of New York Mellon Corp raised its stake in shares of James Hardie Industries by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 32,630 shares of the construction company’s stock valued at $1,029,000 after acquiring an additional 375 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of James Hardie Industries by 46.3% in the third quarter. GAMMA Investing LLC now owns 1,365 shares of the construction company’s stock valued at $55,000 after acquiring an additional 432 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in James Hardie Industries by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 70,496 shares of the construction company’s stock valued at $2,223,000 after purchasing an additional 534 shares during the period. Institutional investors and hedge funds own 7.96% of the company’s stock.

James Hardie Industries Trading Down 3.4 %

NYSE:JHX opened at $32.53 on Thursday. James Hardie Industries plc has a 1 year low of $29.88 and a 1 year high of $43.57. The stock has a market cap of $13.97 billion, a P/E ratio of 32.21, a P/E/G ratio of 4.35 and a beta of 1.77. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.50 and a current ratio of 2.02. The stock has a 50-day simple moving average of $34.66 and a 200-day simple moving average of $34.57.

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on JHX. JPMorgan Chase & Co. raised James Hardie Industries from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 6th. Truist Financial initiated coverage on shares of James Hardie Industries in a report on Tuesday, December 10th. They issued a “buy” rating and a $45.00 target price on the stock. Finally, StockNews.com upgraded shares of James Hardie Industries from a “hold” rating to a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.25.

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.