Zions Bancorporation N.A. Acquires 14,101 Shares of James Hardie Industries plc (NYSE:JHX)

Zions Bancorporation N.A. lifted its holdings in James Hardie Industries plc (NYSE:JHX) by 141.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,044 shares of the construction company’s stock after acquiring an additional 14,101 shares during the period. Zions Bancorporation N.A.’s holdings in James Hardie Industries were worth $741,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC raised its position in James Hardie Industries by 45.3% during the fourth quarter. TD Private Client Wealth LLC now owns 972 shares of the construction company’s stock valued at $30,000 after purchasing an additional 303 shares during the period. Franklin Resources Inc. increased its position in shares of James Hardie Industries by 4.4% during the 3rd quarter. Franklin Resources Inc. now owns 8,551 shares of the construction company’s stock valued at $315,000 after purchasing an additional 359 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in James Hardie Industries by 0.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 52,416 shares of the construction company’s stock valued at $1,615,000 after buying an additional 420 shares during the period. Sanctuary Advisors LLC lifted its position in James Hardie Industries by 2.5% in the fourth quarter. Sanctuary Advisors LLC now owns 18,074 shares of the construction company’s stock worth $616,000 after buying an additional 433 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in James Hardie Industries by 5.2% during the fourth quarter. Rhumbline Advisers now owns 9,695 shares of the construction company’s stock worth $299,000 after buying an additional 482 shares during the period. Hedge funds and other institutional investors own 7.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on JHX shares. Raymond James set a $55.00 target price on shares of James Hardie Industries in a research note on Monday. Jefferies Financial Group reissued a “buy” rating on shares of James Hardie Industries in a research note on Thursday, January 30th. Morgan Stanley raised James Hardie Industries from an “equal weight” rating to an “overweight” rating in a research note on Monday. Truist Financial began coverage on James Hardie Industries in a research note on Tuesday, December 10th. They set a “buy” rating and a $45.00 price target for the company. Finally, StockNews.com raised James Hardie Industries from a “hold” rating to a “buy” rating in a research report on Friday, March 21st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, James Hardie Industries has an average rating of “Moderate Buy” and a consensus target price of $50.00.

James Hardie Industries Price Performance

Shares of JHX stock opened at $23.80 on Thursday. The company has a market capitalization of $10.23 billion, a P/E ratio of 23.57, a P/E/G ratio of 6.16 and a beta of 1.84. The company’s 50-day simple moving average is $32.00 and its two-hundred day simple moving average is $33.75. James Hardie Industries plc has a one year low of $23.23 and a one year high of $43.57. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.18 and a quick ratio of 1.50.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. The company had revenue of $953.30 million for the quarter, compared to analysts’ expectations of $967.63 million. James Hardie Industries had a return on equity of 33.65% and a net margin of 11.15%. As a group, equities analysts anticipate 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.