JHX AU
James Hard Ind Chess Units of Foreign Securities
Industrial/Transportation
04/15/2015
Presented
| Date | 04/09/2015 |
| Price | A$15.78 |
| Market Cap | $5.40B |
| Ent Value | $5.71B |
| P/E Ratio | 69.7x |
| Book Value | N/A |
| Div Yield | 2.79% |
| Shares O/S | 445.68M |
| Ave Daily Vol | 1,440,000 |
| Short Int | N/A |
Current
| Price | A$53.97 |
| Market Cap | $18.23B |
| James Hardie Industries plc, together with its subsidiaries, manufactures and sells fiber cement products and systems for interior and exterior building construction applications primarily in the United States, Canada, Australia, New Zealand, the Philippines, and Europe. The company operates through USA and Europe Fibre Cement, and Asia Pacific Fibre Cement segments. Its products principally include fiber cement interior linings, exterior siding products, and related accessories products. The company offers fiber cement products with various patterned profiles and surface finishes for a range of applications, including external siding and soffit lining, internal linings, facades, floor and tile underlay, lattice, fencing, decorative columns, flooring, and ceiling applications; and manufactures and sells fiber reinforced concrete pipes. Its products are used in various markets, such as new residential construction, which include single and multi-family housing; manufactured housing that comprise mobile and pre-fabricated homes; repair and remodeling; and various commercial and industrial applications, such as stores, warehouses, offices, hotels, motels, schools, libraries, museums, dormitories, hospitals, detention facilities, religious buildings, and gymnasiums. The company markets its fiber cement products and systems under various Hardie brand names, such as HardieBacker; and other brand names, such as Artisan Lap and Artisan Accent Trim by James Hardie, Cemplank and Prevail siding, Scyon, and Stria siding. The company sells its products directly, as well as through distributors, large home center retailers, small to medium size dealer outlets, and specialist distributors to dealers or lumber yards, consumers, builders, real estate developers, and distributor/hardware stores. James Hardie Industries plc was founded in 1888 and is headquartered in Dublin, the Republic of Ireland. |
Publicly traded companies mentioned herein: James Hardie Industries PLC (JHX AU), Louisiana-Pacific Corp (LPX)
Highlights
The presenter is short shares of James Hardie Industries (JHX AU), the manufacturer of Fiber Cement (FC) siding/ building products. The company is listed in Australia, but 75% of its business is in the US, and US housing starts and repair and remodeling projects are the primary drivers of demand. JHX is facing stiff competition from Louisiana-Pacific (LPX) and other manufacturers of siding that have improved the quality of their products over recent years, and shares appear to be too richly valued based on the presenter's assessment of the company's growth prospects and future earnings power.
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