Kornitzer Capital Management Inc. KS Cuts Position in James Hardie Industries PLC. $JHX

Kornitzer Capital Management Inc. KS reduced its stake in James Hardie Industries PLC. (NYSE:JHX) by 80.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,200 shares of the construction company’s stock after selling 401,325 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in James Hardie Industries were worth $1,841,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in JHX. Royal Bank of Canada grew its stake in shares of James Hardie Industries by 17.0% in the first quarter. Royal Bank of Canada now owns 50,801 shares of the construction company’s stock worth $1,197,000 after acquiring an additional 7,396 shares during the last quarter. Goldman Sachs Group Inc. grew its position in James Hardie Industries by 160.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,697,663 shares of the construction company’s stock valued at $63,557,000 after purchasing an additional 1,662,743 shares during the last quarter. Jane Street Group LLC grew its position in James Hardie Industries by 222.4% during the 1st quarter. Jane Street Group LLC now owns 279,009 shares of the construction company’s stock valued at $6,573,000 after purchasing an additional 192,478 shares during the last quarter. Russell Investments Group Ltd. increased its stake in James Hardie Industries by 49.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 11,603 shares of the construction company’s stock valued at $312,000 after purchasing an additional 3,827 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in James Hardie Industries by 11,238.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the construction company’s stock worth $40,000 after buying an additional 1,461 shares during the last quarter. Hedge funds and other institutional investors own 7.96% of the company’s stock.

James Hardie Industries Trading Up 0.1%

NYSE:JHX opened at $24.81 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.71. James Hardie Industries PLC. has a 12 month low of $16.46 and a 12 month high of $29.83. The company has a market cap of $14.40 billion, a PE ratio of 112.79 and a beta of 1.77. The company has a 50 day simple moving average of $23.07 and a two-hundred day simple moving average of $22.37.

James Hardie Industries (NYSE:JHX) last released its quarterly earnings results on Wednesday, May 20th. The construction company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.01. James Hardie Industries had a return on equity of 11.13% and a net margin of 2.15%.The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the firm earned $0.36 EPS. The company’s revenue was up 44.5% compared to the same quarter last year. Research analysts forecast that James Hardie Industries PLC. will post 1.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on JHX. Stephens assumed coverage on shares of James Hardie Industries in a report on Thursday, June 25th. They set an “overweight” rating and a $31.00 price target on the stock. Zacks Research lowered James Hardie Industries from a “hold” rating to a “strong sell” rating in a report on Thursday, May 21st. Finally, Barclays decreased their price target on James Hardie Industries from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.56.

James Hardie Industries Company 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.