JHX has almost doubled in 2023 as their company’s strategy performed admirably in the short-term volume downturn. Last month, JHX delivered their 2Q24 result with the key takeaways being volumes hit a low point earlier than expected, margins bottomed at a higher level than most expected, and their growth mindset remains; there was nothing not to like, and the stock surged accordingly.
- We took a healthy 21% profit in our Active Growth Portfolio from a foray into JHX this year, i.e. we bought well but sold too early.
MM is cautiously bullish about JHX around $51.50
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