Todays Report: The James Hardie Industries PLC (JHX) Cut to “Hold” at Zacks Investment Research

The James Hardie Industries PLC (JHX) Cut to “Hold” at Zacks Investment Research

James Hardie Industries PLC (NYSE:JHX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “JAMES HARDI-ADR pioneered the development of fibre cement technology in the 1980’s. They have many product applications including: External siding, trim and fascia, ceiling lining and flooring, partitioning, decorative columns, fencing and drainage pipes. “

Separately, Citigroup Inc. raised shares of James Hardie Industries PLC from a “sell” rating to a “neutral” rating in a report on Monday, August 15th.

Shares of James Hardie Industries PLC (NYSE:JHX) traded down 0.73% during trading on Wednesday, hitting $15.00. 2,030 shares of the company traded hands. The firm has a 50 day moving average price of $15.95 and a 200-day moving average price of $15.40. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of 24.59 and a beta of 1.32. James Hardie Industries PLC has a one year low of $10.19 and a one year high of $17.30.

Several hedge funds have recently added to or reduced their stakes in JHX. Capstone Asset Management Co. boosted its position in James Hardie Industries PLC by 2.0% in the third quarter. Capstone Asset Management Co. now owns 51,689 shares of the company’s stock valued at $813,000 after buying an additional 1,020 shares during the last quarter. Parametric Portfolio Associates LLC boosted its position in James Hardie Industries PLC by 4.6% in the second quarter. Parametric Portfolio Associates LLC now owns 441,219 shares of the company’s stock valued at $6,768,000 after buying an additional 19,474 shares during the last quarter. Wetherby Asset Management Inc. boosted its position in James Hardie Industries PLC by 1.0% in the second quarter. Wetherby Asset Management Inc. now owns 22,334 shares of the company’s stock valued at $342,000 after buying an additional 225 shares during the last quarter. Private Advisor Group LLC bought a new position in James Hardie Industries PLC during the second quarter valued at approximately $196,000. Finally, Dimensional Fund Advisors LP boosted its position in James Hardie Industries PLC by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 74,012 shares of the company’s stock valued at $1,135,000 after buying an additional 746 shares during the last quarter. 0.92% of the stock is currently owned by institutional investors and hedge funds.

About James Hardie Industries PLC

James Hardie Industries Plc is a manufacturer of fiber cement products and systems for internal and external building construction applications. The Company’s brand names include HardieBacker, Artisan Lap, Artisan Accent Trim, Cemplank, Prevail and Scyon. Its products include external siding, internal walls, floors, ceilings, soffits, roofing, lattice, decorative columns, fencing and facades.

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