James Hardie Industries (NYSE:JHX) Rating Increased to Buy at UBS Group

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UBS Group upgraded shares of James Hardie Industries (NYSE:JHX) from a neutral rating to a buy rating in a report released on Monday morning, The Fly reports.

Shares of NYSE:JHX opened at $15.35 on Monday. The stock has a market cap of $6.57 billion, a price-to-earnings ratio of 28.08 and a beta of 0.78. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 1.42. James Hardie Industries has a 12-month low of $10.00 and a 12-month high of $16.27. The business’s 50 day moving average is $13.56 and its 200 day moving average is $13.05.

The business also recently announced a Semi-Annual dividend, which was paid on Friday, August 2nd. Investors of record on Thursday, June 6th were given a dividend of $0.26 per share. This is a boost from James Hardie Industries’s previous Semi-Annual dividend of $0.21. The ex-dividend date was Wednesday, June 5th.

Several large investors have recently made changes to their positions in JHX. Parametric Portfolio Associates LLC boosted its position in shares of James Hardie Industries by 16.4% during the first quarter. Parametric Portfolio Associates LLC now owns 1,050,835 shares of the construction company’s stock valued at $13,524,000 after buying an additional 148,167 shares during the last quarter. Northern Trust Corp boosted its position in shares of James Hardie Industries by 2.9% during the second quarter. Northern Trust Corp now owns 435,975 shares of the construction company’s stock valued at $5,759,000 after buying an additional 12,173 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of James Hardie Industries by 3.3% during the second quarter. Renaissance Technologies LLC now owns 324,727 shares of the construction company’s stock valued at $4,290,000 after buying an additional 10,400 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of James Hardie Industries by 81.1% during the first quarter. Quadrant Capital Group LLC now owns 17,731 shares of the construction company’s stock valued at $222,000 after buying an additional 7,938 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its position in shares of James Hardie Industries by 45.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 21,755 shares of the construction company’s stock valued at $232,000 after buying an additional 6,800 shares during the last quarter. 0.65% of the stock is currently owned by institutional investors.

About James Hardie Industries

James Hardie Industries plc, together with its subsidiaries, manufactures and sells fiber cement siding and backer board products. It operates through North America Fiber Cement, International Fiber Cement, Other Businesses, and Research and Development segments. The company offers fiber cement interior linings, exterior siding products, fiberglass windows, and related accessories products; fiber cement building materials for a range of applications, including external siding, internal walls, floors, ceilings, soffits, trim, fencing, decking, and facades; floor underlayments; planks, which are used in external siding; flat panels for internal and external wall linings; gypsum fiber boards; and cement-bonded boards.

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