James Hardie Industries (NYSE:JHX) Sees Unusually-High Trading Volume

Shares of James Hardie Industries plc (NYSE:JHXGet Free Report) saw an uptick in trading volume on Tuesday . 22,855 shares changed hands during trading, a decline of 53% from the previous session’s volume of 48,456 shares.The stock last traded at $39.16 and had previously closed at $40.10.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on JHX shares. StockNews.com lowered shares of James Hardie Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 20th. Bank of America downgraded James Hardie Industries from a “neutral” rating to an “underperform” rating and set a $35.50 target price for the company. in a research report on Tuesday, January 23rd.

Get Our Latest Analysis on James Hardie Industries

James Hardie Industries Price Performance

The company has a 50 day moving average of $38.98 and a two-hundred day moving average of $33.89. The firm has a market cap of $16.93 billion, a P/E ratio of 32.12, a PEG ratio of 2.18 and a beta of 1.69. The company has a quick ratio of 1.46, a current ratio of 1.89 and a debt-to-equity ratio of 0.60.

James Hardie Industries (NYSE:JHXGet Free Report) last issued its quarterly earnings results on Monday, February 12th. The construction company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. James Hardie Industries had a net margin of 13.93% and a return on equity of 38.75%. The company had revenue of $978.30 million during the quarter, compared to the consensus estimate of $960.23 million. During the same period in the prior year, the company earned $0.29 EPS. James Hardie Industries’s revenue was up 13.7% on a year-over-year basis. Sell-side analysts expect that James Hardie Industries plc will post 1.6 EPS for the current year.

Institutional Trading of James Hardie Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its holdings in shares of James Hardie Industries by 2,363.6% in the first quarter. Bank of America Corp DE now owns 1,161,155 shares of the construction company’s stock valued at $25,139,000 after buying an additional 1,114,023 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of James Hardie Industries by 24.5% during the second quarter. Goldman Sachs Group Inc. now owns 971,375 shares of the construction company’s stock valued at $21,312,000 after purchasing an additional 190,866 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of James Hardie Industries in the 3rd quarter valued at $3,101,000. Millennium Management LLC raised its holdings in James Hardie Industries by 1,184.9% during the 4th quarter. Millennium Management LLC now owns 142,431 shares of the construction company’s stock worth $2,555,000 after buying an additional 131,346 shares during the period. Finally, Jennison Associates LLC acquired a new position in shares of James Hardie Industries in the fourth quarter worth about $4,532,000. 7.96% of the stock is owned by institutional investors and hedge funds.

About James Hardie Industries

(Get Free Report)

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.

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