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

DGS Capital Management LLC lowered its stake in shares of James Hardie Industries plc (NYSE:JHX) by 2.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 16,753 shares of the construction company’s stock after selling 486 shares during the quarter. 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 institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC increased its stake in James Hardie Industries by 2.6% during the third quarter. Sequoia Financial Advisors LLC now owns 12,494 shares of the construction company’s stock worth $502,000 after purchasing an additional 318 shares during the period. Franklin Resources Inc. increased its position in shares of James Hardie Industries by 4.4% during the third quarter. Franklin Resources Inc. now owns 8,551 shares of the construction company’s stock worth $315,000 after acquiring an additional 359 shares during the period. Blue Trust Inc. raised its stake in shares of James Hardie Industries by 55.7% in the second quarter. Blue Trust Inc. now owns 1,045 shares of the construction company’s stock valued at $33,000 after acquiring an additional 374 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in 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 purchasing an additional 375 shares during the period. Finally, GAMMA Investing LLC grew its stake in James Hardie Industries by 46.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,365 shares of the construction company’s stock worth $55,000 after purchasing an additional 432 shares in the last quarter. Hedge funds and other institutional investors own 7.96% of the company’s stock.

James Hardie Industries Price Performance

James Hardie Industries stock traded down $0.30 during midday trading on Friday, reaching $33.90. The company’s stock had a trading volume of 7,973 shares, compared to its average volume of 74,094. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.50 and a current ratio of 2.02. James Hardie Industries plc has a fifty-two week low of $29.88 and a fifty-two week high of $43.57. The firm has a market capitalization of $14.56 billion, a PE ratio of 33.87, a P/E/G ratio of 4.35 and a beta of 1.77. The stock’s 50 day simple moving average is $34.95 and its 200 day simple moving average is $34.48.

James Hardie Industries (NYSE:JHX) last announced 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 firm had revenue of $960.80 million during the quarter, compared to analysts’ expectations of $973.49 million. During the same quarter last year, the business earned $0.41 earnings per share. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, equities research analysts forecast that James Hardie Industries plc will post 1.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

JHX has been the subject of several recent research reports. StockNews.com cut James Hardie Industries from a “buy” rating to a “hold” rating in a research note on Monday. Truist Financial initiated coverage on James Hardie Industries in a research note on Tuesday. They set a “buy” rating and a $45.00 target price for the company. Finally, JPMorgan Chase & Co. raised James Hardie Industries from a “neutral” rating to an “overweight” rating in a report on Wednesday, November 6th. 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 stock. Based on data from MarketBeat, the company 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.