DGS Capital Management LLC Cuts Holdings in James Hardie Industries plc (NYSE:JHX)

DGS Capital Management LLC reduced its position in James Hardie Industries plc (NYSE:JHX) by 2.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,753 shares of the construction company’s stock after selling 486 shares during the period. DGS Capital Management LLC’s holdings in James Hardie Industries were worth $673,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JHX. Sequoia Financial Advisors LLC increased its stake in James Hardie Industries by 2.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 12,494 shares of the construction company’s stock worth $502,000 after acquiring an additional 318 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of James Hardie Industries by 4.4% in the third quarter. Franklin Resources Inc. now owns 8,551 shares of the construction company’s stock valued at $315,000 after purchasing an additional 359 shares in the last quarter. Blue Trust Inc. increased its position in James Hardie Industries by 55.7% in the second quarter. Blue Trust Inc. now owns 1,045 shares of the construction company’s stock worth $33,000 after purchasing an additional 374 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of James Hardie Industries by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 32,630 shares of the construction company’s stock worth $1,029,000 after buying an additional 375 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in James Hardie Industries by 46.3% in the third quarter. GAMMA Investing LLC now owns 1,365 shares of the construction company’s stock worth $55,000 after buying an additional 432 shares during the last quarter. 7.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on JHX shares. Truist Financial began coverage on shares of James Hardie Industries in a research note on Tuesday. They issued a “buy” rating and a $45.00 price objective for the company. StockNews.com cut shares of James Hardie Industries from a “buy” rating to a “hold” rating in a report on Monday. Finally, JPMorgan Chase & Co. upgraded shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $40.25.

James Hardie Industries Stock Performance

NYSE JHX traded down $0.30 during trading hours on Friday, reaching $33.90. The stock had a trading volume of 7,973 shares, compared to its average volume of 74,094. James Hardie Industries plc has a 52-week low of $29.88 and a 52-week high of $43.57. The stock has a fifty day moving average of $34.95 and a 200 day moving average of $34.48. 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 market cap of $14.56 billion, a P/E ratio of 33.87, a price-to-earnings-growth ratio of 4.35 and a beta of 1.77.

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

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.