Lake Street Advisors Group LLC Has $331,000 Stock Position in James Hardie Industries plc (NYSE:JHX)

Lake Street Advisors Group LLC lowered its stake in James Hardie Industries plc (NYSE:JHX) by 7.8% during the fourth quarter, Holdings Channel reports. The firm owned 10,753 shares of the construction company’s stock after selling 909 shares during the period. Lake Street Advisors Group LLC’s holdings in James Hardie Industries were worth $331,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc bought a new position in James Hardie Industries in the 4th quarter valued at about $25,000. R Squared Ltd bought a new stake in shares of James Hardie Industries during the 4th quarter worth approximately $27,000. Huntington National Bank acquired a new stake in shares of James Hardie Industries during the 3rd quarter worth approximately $55,000. Pinpoint Asset Management Ltd bought a new position in James Hardie Industries in the third quarter valued at approximately $64,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in James Hardie Industries during the third quarter valued at approximately $71,000. Institutional investors and hedge funds own 7.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on JHX. StockNews.com lowered James Hardie Industries from a “buy” rating to a “hold” rating in a research note on Friday. Truist Financial began coverage on James Hardie Industries in a research report on Tuesday, December 10th. They issued a “buy” rating and a $45.00 target price on the stock. Jefferies Financial Group reissued a “buy” rating on shares of James Hardie Industries in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. raised shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $45.00.

James Hardie Industries Price Performance

Shares of NYSE JHX opened at $31.46 on Friday. The company has a market capitalization of $13.52 billion, a PE ratio of 31.14, a P/E/G ratio of 6.16 and a beta of 1.81. The company has a quick ratio of 1.50, a current ratio of 2.18 and a debt-to-equity ratio of 0.52. James Hardie Industries plc has a twelve month low of $29.88 and a twelve month high of $43.57. The firm has a fifty day simple moving average of $32.43 and a 200 day simple moving average of $34.41.

James Hardie Industries (NYSE:JHX) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. James Hardie Industries had a return on equity of 33.65% and a net margin of 11.15%. The firm had revenue of $953.30 million for the quarter, compared to analysts’ expectations of $967.63 million. On average, sell-side analysts forecast that James Hardie Industries plc will post 1.39 EPS 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.