Jane Street Group LLC Reduces Position in James Hardie Industries plc (NYSE:JHX)

Jane Street Group LLC reduced its stake in James Hardie Industries plc (NYSE:JHX) by 45.4% during the 3rd quarter, Holdings Channel reports. The fund owned 30,427 shares of the construction company’s stock after selling 25,273 shares during the period. Jane Street Group LLC’s holdings in James Hardie Industries were worth $1,222,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in JHX. GAMMA Investing LLC raised its stake in James Hardie Industries by 46.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,365 shares of the construction company’s stock valued at $55,000 after purchasing an additional 432 shares during the last quarter. Huntington National Bank acquired a new stake in shares of James Hardie Industries during the 3rd quarter worth about $55,000. Pinpoint Asset Management Ltd purchased a new stake in shares of James Hardie Industries during the third quarter worth about $64,000. Cubist Systematic Strategies LLC acquired a new position in shares of James Hardie Industries in the second quarter valued at approximately $66,000. Finally, CWM LLC lifted its stake in shares of James Hardie Industries by 55.6% during the third quarter. CWM LLC now owns 2,751 shares of the construction company’s stock valued at $110,000 after buying an additional 983 shares during the period. Institutional investors and hedge funds own 7.96% of the company’s stock.

James Hardie Industries Price Performance

James Hardie Industries stock opened at $31.44 on Friday. James Hardie Industries plc has a 1 year low of $29.88 and a 1 year high of $43.57. 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 firm has a 50 day moving average price of $34.00 and a 200 day moving average price of $34.60. The company has a market cap of $13.51 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 4.27 and a beta of 1.77.

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

Analysts Set New Price Targets

JHX has been the subject of several recent analyst reports. StockNews.com cut shares of James Hardie Industries from a “buy” rating to a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. raised James Hardie Industries from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 6th. Finally, Truist Financial began coverage on James Hardie Industries in a research report on Tuesday, December 10th. They set a “buy” rating and a $45.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.