James Hardie Industries (NYSE:JHX) Sees Large Volume Increase – What’s Next?

Shares of James Hardie Industries plc (NYSE:JHX) saw strong trading volume on Thursday . 237,074 shares traded hands during mid-day trading, an increase of 136% from the previous session’s volume of 100,591 shares.The stock last traded at $33.93 and had previously closed at $32.87.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Truist Financial assumed coverage on shares of James Hardie Industries in a research note on Tuesday, December 10th. They issued a “buy” rating and a $45.00 target price for the company. StockNews.com cut shares of James Hardie Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, December 25th. Finally, JPMorgan Chase & Co. upgraded shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, James Hardie Industries currently has an average rating of “Hold” and an average price target of $40.25.

James Hardie Industries Trading Down 1.3 %

The business’s fifty day moving average is $33.60 and its two-hundred day moving average is $34.56. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.57. The firm has a market cap of $14.53 billion, a price-to-earnings ratio of 33.48, a price-to-earnings-growth ratio of 3.87 and a beta of 1.80.

James Hardie Industries (NYSE:JHX) last posted its earnings results on Tuesday, November 12th. The construction company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. James Hardie Industries had a return on equity of 35.93% and a net margin of 11.16%. The business had revenue of $960.80 million during the quarter, compared to analysts’ expectations of $973.49 million. During the same period in the prior year, the business earned $0.41 EPS. James Hardie Industries’s revenue for the quarter was down 3.8% compared to the same quarter last year. Equities analysts anticipate that James Hardie Industries plc will post 1.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. acquired a new position in James Hardie Industries during the second quarter worth $12,162,000. Natixis Advisors LLC lifted its stake in James Hardie Industries by 317.2% in the third quarter. Natixis Advisors LLC now owns 172,460 shares of the construction company’s stock valued at $6,924,000 after acquiring an additional 131,120 shares during the last quarter. FMR LLC lifted its stake in James Hardie Industries by 22.5% in the third quarter. FMR LLC now owns 160,273 shares of the construction company’s stock valued at $6,435,000 after acquiring an additional 29,401 shares during the last quarter. Creative Planning lifted its stake in James Hardie Industries by 16.3% in the third quarter. Creative Planning now owns 77,168 shares of the construction company’s stock valued at $3,098,000 after acquiring an additional 10,803 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in James Hardie Industries by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 70,496 shares of the construction company’s stock valued at $2,223,000 after acquiring an additional 534 shares during the last quarter. Institutional investors and hedge funds own 7.96% of the company’s stock.

James Hardie Industries Company Profile

James Hardie Industries plc manufactures and sells fiber cement, fiber gypsum, and cement bonded building products for interior and exterior building construction applications primarily in the United States, Australia, Europe, New Zealand, and the Philippines. The company operates through North America Fiber Cement, Asia Pacific Fiber Cement, and Europe Building Products segments.