Kornitzer Capital Management Inc. KS Makes New $9.58 Million Investment in James Hardie Industries PLC. $JHX

Kornitzer Capital Management Inc. KS acquired a new stake in James Hardie Industries PLC. (NYSE:JHX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 498,525 shares of the construction company’s stock, valued at approximately $9,577,000. Kornitzer Capital Management Inc. KS owned about 0.12% of James Hardie Industries at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its stake in James Hardie Industries by 241.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 12,718,075 shares of the construction company’s stock valued at $341,989,000 after acquiring an additional 8,988,938 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of James Hardie Industries by 1,883.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 3,874,198 shares of the construction company’s stock valued at $104,177,000 after purchasing an additional 3,678,889 shares during the period. Eminence Capital LP acquired a new stake in James Hardie Industries in the 2nd quarter valued at about $83,249,000. Stephens Investment Management Group LLC acquired a new position in James Hardie Industries during the third quarter worth approximately $38,552,000. Finally, Moore Capital Management LP acquired a new position in James Hardie Industries during the second quarter worth approximately $48,927,000. 7.96% of the stock is currently owned by institutional investors and hedge funds.

James Hardie Industries Stock Performance

Shares of NYSE:JHX opened at $24.37 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 1.79 and a debt-to-equity ratio of 0.80. James Hardie Industries PLC. has a 12-month low of $16.46 and a 12-month high of $34.75. The company’s 50 day moving average price is $20.93 and its two-hundred day moving average price is $21.77. The firm has a market cap of $10.48 billion, a PE ratio of 50.77, a PEG ratio of 7.88 and a beta of 1.80.

James Hardie Industries (NYSE:JHX) last posted its quarterly earnings data on Monday, November 17th. The construction company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.30 billion. James Hardie Industries had a return on equity of 18.40% and a net margin of 4.67%.The company’s revenue was up 34.5% on a year-over-year basis. During the same quarter last year, the company earned $0.36 EPS. Equities research analysts predict that James Hardie Industries PLC. will post 1.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Robert W. Baird reduced their target price on James Hardie Industries from $28.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th. Raymond James Financial set a $21.00 price objective on shares of James Hardie Industries in a research report on Monday, December 8th. Wolfe Research started coverage on shares of James Hardie Industries in a research note on Tuesday, September 30th. They set an “outperform” rating and a $25.00 target price for the company. Vertical Research raised shares of James Hardie Industries from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Wednesday, November 19th. Finally, Zacks Research raised shares of James Hardie Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, January 19th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.93.

James Hardie Industries Profile

James Hardie Industries plc (NYSE: JHX) is a global manufacturer of high-performance fiber cement building products. The company specializes in exterior cladding, trim and soffit, as well as interior backerboard solutions designed for residential and commercial construction. By combining cement, sand and cellulose fibers, James Hardie produces durable, low-maintenance materials that resist moisture, fire and termite damage, catering to builders, contractors and homeowners through a network of distributors and retail channels.

The company’s flagship products include Hardie® Plank® and Hardie® Panel® siding systems, Hardie® BackerBoard® for tile applications, and a range of architectural trim solutions.