Pinpoint Asset Management Ltd Invests $64,000 in James Hardie Industries plc (NYSE:JHX)

Pinpoint Asset Management Ltd bought a new stake in shares of James Hardie Industries plc (NYSE:JHX) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,603 shares of the construction company’s stock, valued at approximately $64,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mediolanum International Funds Ltd purchased a new position in shares of James Hardie Industries during the 3rd quarter worth approximately $2,369,000. Cerity Partners LLC grew its stake in James Hardie Industries by 58.8% in the third quarter. Cerity Partners LLC now owns 37,771 shares of the construction company’s stock worth $1,517,000 after purchasing an additional 13,981 shares during the period. Natixis Advisors LLC raised its holdings in James Hardie Industries by 317.2% in the third quarter. Natixis Advisors LLC now owns 172,460 shares of the construction company’s stock worth $6,924,000 after purchasing an additional 131,120 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in James Hardie Industries by 83.9% during the third quarter. Crossmark Global Holdings Inc. now owns 51,996 shares of the construction company’s stock valued at $2,088,000 after buying an additional 23,723 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in James Hardie Industries during the second quarter valued at $12,162,000. Hedge funds and other institutional investors own 7.96% of the company’s stock.

James Hardie Industries Price Performance

Shares of JHX opened at $36.59 on Wednesday. The company has a market capitalization of $15.71 billion, a P/E ratio of 36.23, a price-to-earnings-growth ratio of 4.64 and a beta of 1.77. James Hardie Industries plc has a twelve month low of $29.88 and a twelve month high of $43.57. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average of $35.47 and a 200 day moving average of $34.37.

James Hardie Industries (NYSE:JHX) last posted its earnings results on Tuesday, November 12th. The construction company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business 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 was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 EPS. As a group, equities research analysts anticipate that James Hardie Industries plc will post 1.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

JHX has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 6th. StockNews.com upgraded shares of James Hardie Industries from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th.

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.