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

James Hardie Industries plc (NYSE:JHX) saw strong trading volume on Monday . 467,377 shares traded hands during trading, an increase of 424% from the previous session’s volume of 89,268 shares.The stock last traded at $24.36 and had previously closed at $29.28.

Analyst Ratings Changes

JHX has been the subject of a number of recent analyst reports. Macquarie lowered shares of James Hardie Industries from an “outperform” rating to a “neutral” rating in a report on Monday. Truist Financial started coverage on shares of James Hardie Industries in a research report on Tuesday, December 10th. They issued a “buy” rating and a $45.00 target price for the company. Jefferies Financial Group reissued a “buy” rating on shares of James Hardie Industries in a research report on Thursday, January 30th. Finally, StockNews.com raised shares of James Hardie Industries from a “hold” rating to a “buy” rating in a research report on Friday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

James Hardie Industries Stock Performance

The business’s 50-day moving average price is $32.48 and its 200-day moving average price is $33.99. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.50 and a current ratio of 2.18. The stock has a market cap of $10.19 billion, a P/E ratio of 23.47, a P/E/G ratio of 6.16 and a beta of 1.84.

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

Institutional Trading of James Hardie Industries

Several hedge funds have recently made changes to their positions in the business. TD Private Client Wealth LLC raised its position in shares of James Hardie Industries by 45.3% during the 4th quarter. TD Private Client Wealth LLC now owns 972 shares of the construction company’s stock valued at $30,000 after buying an additional 303 shares in the last quarter. Franklin Resources Inc. grew its holdings in James Hardie Industries by 4.4% during the 3rd quarter. Franklin Resources Inc. now owns 8,551 shares of the construction company’s stock valued at $315,000 after purchasing an additional 359 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in James Hardie Industries by 0.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 52,416 shares of the construction company’s stock valued at $1,615,000 after purchasing an additional 420 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in James Hardie Industries by 2.5% during the 4th quarter. Sanctuary Advisors LLC now owns 18,074 shares of the construction company’s stock valued at $616,000 after purchasing an additional 433 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in James Hardie Industries by 9.5% during the 4th quarter. Russell Investments Group Ltd. now owns 5,220 shares of the construction company’s stock valued at $161,000 after purchasing an additional 453 shares during the last quarter. 7.96% of the stock is currently owned by hedge funds and other institutional investors.

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.