James Hardie Industries plc (NYSE:JHX) Sees Significant Decline in Short Interest

James Hardie Industries plc (NYSE:JHX) was the recipient of a large decrease in short interest in February. As of February 28th, there was short interest totalling 37,300 shares, a decrease of 25.1% from the February 13th total of 49,800 shares. Based on an average daily trading volume, of 91,100 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.0% of the shares of the company are sold short.

James Hardie Industries Price Performance

Shares of NYSE JHX opened at $32.01 on Friday. The business has a fifty day moving average price of $32.50 and a two-hundred day moving average price of $34.23. The stock has a market capitalization of $13.76 billion, a PE ratio of 31.69, a P/E/G ratio of 6.16 and a beta of 1.84. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.18 and a quick ratio of 1.50. James Hardie Industries has a fifty-two week low of $29.88 and a fifty-two week high of $43.57.

James Hardie Industries (NYSE:JHX) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $953.30 million during the quarter, compared to the consensus estimate of $967.63 million. James Hardie Industries had a return on equity of 33.65% and a net margin of 11.15%. As a group, equities analysts predict that James Hardie Industries will post 1.39 earnings per share for the current fiscal year.

Institutional Trading of James Hardie Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Huntington National Bank acquired a new position in James Hardie Industries during the third quarter valued at approximately $55,000. Zions Bancorporation N.A. increased its stake in shares of James Hardie Industries by 1,904.6% in the 3rd quarter. Zions Bancorporation N.A. now owns 9,943 shares of the construction company’s stock valued at $399,000 after purchasing an additional 9,447 shares during the last quarter. Natixis Advisors LLC lifted its position in shares of James Hardie Industries by 317.2% during the 3rd quarter. Natixis Advisors LLC now owns 172,460 shares of the construction company’s stock worth $6,924,000 after buying an additional 131,120 shares during the last quarter. Drive Wealth Management LLC acquired a new stake in James Hardie Industries in the third quarter valued at about $220,000. Finally, Pathstone Holdings LLC grew its position in James Hardie Industries by 5.2% in the third quarter. Pathstone Holdings LLC now owns 41,798 shares of the construction company’s stock valued at $1,678,000 after acquiring an additional 2,060 shares during the last quarter. Institutional investors own 7.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. StockNews.com downgraded James Hardie Industries from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Truist Financial started coverage on shares of James Hardie Industries in a research note on Tuesday, December 10th. They issued a “buy” rating and a $45.00 price objective for the company. Finally, Jefferies Financial Group reissued a “buy” rating on shares of James Hardie Industries in a report on Thursday, January 30th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, James Hardie Industries presently has a consensus rating of “Moderate Buy” and an average price target of $45.00.

About James Hardie Industries

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.