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James Hardie Industries plc
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About James Hardie Industries plc
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Pendal Group continues to hold its position in James Hardie even as shares fell following its US investor day, with longer-term sales growth guidance coming in below levels previously outlined. Pendal expects debate over whether the new targets and earnings frameworks are conservative, consistent with the company's recent guidance approach. FY27 profit and loss guidance for the continuing business excluding Europe remained unchanged, though free cash flow guidance was increased relative to a previous conservative guide, suggesting management may be building in a buffer against downside risk while maintaining flexibility on capital allocation.
Newsletter
21 Sep 2026
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Pendal Group
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§ Important Notice
The entries below are records originating from third-party statements. Thesis Tracker does not rank, recommend or endorse any fund manager, fund or security. Investment decisions should be made on the basis of the relevant Product Disclosure Statement and, where appropriate, advice from a licensed adviser.
Frequently asked questions about James Hardie Industries plc (ASX:JHX)
Frequently asked questions
Who is investing in James Hardie Industries plc (ASX:JHX)?
Fund managers including L1 Capital, Ten Cap, Bennelong Australian Equity Partners, Blackwattle Investment Partners, Greencape Capital, Oracle Advisory Group, Equity Trustees Asset Management, Airlie Funds Management, QVG Capital, Wilson Asset Management, First Sentier Investors, ECP Asset Management, Selector Funds Management, Infinity Asset Management, Seneca Financial Solutions, Pendal Group, Antares Capital, DS Capital, Kardinia Capital, Yarra Capital Management, Perennial Partners, Atlas Funds Management, Elston Asset Management, Hyperion Asset Management, Perpetual Asset Management, Plato Investment Management, Vinva Investment Management, Allan Gray, Pengana Capital Group, Investors Mutual Limited and First Samuel have invested in James Hardie Industries plc (ASX:JHX).
What opportunities or catalysts do fund managers highlight for James Hardie Industries plc?
Managers point to continued market share gains in North American fibre cement, revenue synergies and new distribution relationships from the AZEK acquisition, and restocking driving strong siding and trim growth even in a soft US housing market. Wilson Asset Management sees James Hardie as a quality business with company-specific earnings drivers that can benefit as investors broaden beyond crowded AI stocks, while the sale of European operations sharpens focus on core growth markets.
What are the key risks to the James Hardie Industries plc investment thesis, according to fund managers?
Investors Mutual cautions that repair and remodel demand, the bulk of the business, is constrained by high US home equity borrowing costs until interest rates fall. Pendal noted lower long-term sales growth targets from the US investor day and debate over free cash flow guidance, while Perennial trimmed the stock after a strong rally, pointing to valuation risk.
What is the short interest in James Hardie Industries plc (ASX:JHX)?
The short interest in James Hardie Industries plc (ASX:JHX) is 1.96% which makes it the 131st most shorted stock on the ASX. Of the 430.4M shares that James Hardie Industries plc has on issue, 8.4M have been sold short.
What does James Hardie Industries plc (ASX:JHX) do?
James Hardie Industries Plc, established in 1888 and headquartered in Dublin, Ireland, provides fiber cement and fiber gypsum building solutions. The company operates through four segments: North America Fiber Cement, Asia Pacific Fiber Cement, Europe Building Products, and Research and Development. Its portfolio includes interior linings, exterior siding, and related accessories sold across North America, Australia, New Zealand, Asia, the Middle East, and Europe. The Research and Development segment manages global innovation centers. James Hardie focuses on high-performance building materials for residential and commercial construction markets worldwide.