James Hardie Industries plc (NYSE:JHX) Short Interest Update

James Hardie Industries plc (NYSE:JHX) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 57,800 shares, a drop of 15.2% from the August 15th total of 68,200 shares. Based on an average daily trading volume, of 67,000 shares, the short-interest ratio is currently 0.9 days.

James Hardie Industries Stock Performance

JHX traded down $0.10 on Wednesday, reaching $36.19. The stock had a trading volume of 19,616 shares, compared to its average volume of 61,112. The business’s 50-day moving average price is $34.86 and its two-hundred day moving average price is $35.21. The company has a market cap of $15.70 billion, a P/E ratio of 31.26, a price-to-earnings-growth ratio of 3.98 and a beta of 1.74. James Hardie Industries has a 12-month low of $24.28 and a 12-month high of $41.98. The company has a current ratio of 1.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.57.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings results on Tuesday, August 13th. The construction company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.03. James Hardie Industries had a return on equity of 38.01% and a net margin of 12.78%. The firm had revenue of $991.90 million during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the business earned $0.39 EPS. James Hardie Industries’s revenue for the quarter was up 3.9% compared to the same quarter last year. Sell-side analysts forecast that James Hardie Industries will post 1.46 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on JHX shares. Macquarie upgraded James Hardie Industries from a “neutral” rating to an “outperform” rating in a research note on Tuesday, May 21st. JPMorgan Chase & Co. cut James Hardie Industries from an “overweight” rating to a “neutral” rating in a research report on Tuesday, May 21st. Finally, StockNews.com upgraded James Hardie Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its stake in James Hardie Industries by 1.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,002,215 shares of the construction company’s stock valued at $38,756,000 after acquiring an additional 11,235 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of James Hardie Industries during the second quarter worth about $12,162,000. Jennison Associates LLC increased its stake in shares of James Hardie Industries by 186.0% during the first quarter. Jennison Associates LLC now owns 335,239 shares of the construction company’s stock worth $13,564,000 after purchasing an additional 218,033 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of James Hardie Industries by 39.7% during the 1st quarter. Acadian Asset Management LLC now owns 313,931 shares of the construction company’s stock worth $12,697,000 after purchasing an additional 89,165 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in James Hardie Industries by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 70,496 shares of the construction company’s stock valued at $2,223,000 after buying an additional 534 shares in the last quarter. 7.96% of the stock is owned by institutional investors and hedge funds.

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.