Why is the James Hardie share price having such a stellar end to the week?

What did James Hardie reveal to the market today?

| More on:
A man in his 30s holds his laptop and operates it with his other hand as he has a look of pleasant surprise on his face as though he is learning something new or finding hidden value in something on the screen.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

sdf

Key points

  • The James Hardie share price is rising 1.42% today 
  • The company has hired a new CEO  
  • The James Hardie share price has fallen 37% in the past twelve months 

The James Hardie Industries Plc (ASX: JHX) share price is in the green today.

The global fibre cement company's share price is currently trading at $33.68, a 1.42% gain. For perspective, the S&P/ASX 200 Index (ASX: XJO) is down 0.03% today.

Let's take a look at why the James Hardie share price could be lifting today.

New CEO

Investors appear to be buying up James Hardie shares on news the company has hired a new CEO.

Aaron Erter will commence in the top job immediately and will be based in Chicago.

Erter joins James Hardie after a two-year stint with PLZ Corp, a North American aerosol and liquid product manufacturer.

Erter said he has "long admired James Hardie" and sees the new role as a "tremendous opportunity. He added:

I have been fortunate to work for some world-class organizations in my career, and I am confident that my experience and expertise align with what James Hardie needs in a leader.

He has an economics degree from the University of Pennsylvania and an MBA from the University of Notre Dame.

Deputy chairperson and chairperson elect Anne Lloyd said:

I am pleased to welcome Aaron to James Hardie as I transition into the Chairperson role in November. It is an energising period for the organization as we continue to drive profitable growth globally.

Jack Truong exited the company in January and appointed Harold Wiens as interim CEO. James Hardie is forecasting an adjusted net income of between US$730 and US$780 million in 2023.

James Hardie share price snapshot

The James Hardie share price has fallen 37% in the past twelve months and 39% in the year to date.

For perspective, the ASX 200 has lost nearly 9% in the past year.

James Hardie has a market capitalisation of $15 billion based on the current share price.

Motley Fool contributor Monica O'Shea has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Materials Shares

Lion leaping with mouth open, symbolising a rising Liontown share price.
Materials Shares

Why is the Liontown share price leaping 9% on Tuesday?

This ASX lithium share is the fastest mover of the ASX 200 today.

Read more »

A man slumps crankily over his morning coffee as it pours with rain outside.
Materials Shares

Why is this ASX 300 lithium stock sinking 17% today?

What's going on with this lithium stock today? Let's find out.

Read more »

Man holding a calculator with Australian dollar notes, symbolising dividends.
Materials Shares

$10k invested in Pilbara Minerals shares 5 years ago is now worth…

Let's see if this lithium miner delivered the goods for investors.

Read more »

Female miner in hard hat and safety vest on laptop with mining drill in background.
Broker Notes

Experts reveal 2 buys and 1 sell in the ASX 200 materials sector

And they're not all mining companies, either.

Read more »

A woman jumps for joy with a rocket drawn on the wall behind her.
Materials Shares

Pilbara Minerals shares jumps 10% on big news

This lithium miner is having a day to remember on Wednesday. But why?

Read more »

Three miners looking at a tablet.
Materials Shares

Why Bell Potter says this ASX mining stock is a top buy

Let's see which stock the broker is tipping to deliver big returns.

Read more »

A man holds his hand under his chin as he concentrates on his laptop screen and reads about the ANZ share price
Materials Shares

Down 39% in a year, why IGO shares still look overpriced

A leading expert doesn’t believe IGO shares are out of the woods just yet.

Read more »

Man with rocket wings which have flames coming out of them.
Materials Shares

This ASX 300 stock is surging 25% on US defence deal

The announcement of a 'a pivotal milestone' is getting investors excited today.

Read more »