James Hardie Industries (NYSE:JHX) Sees Large Volume Increase

Shares of James Hardie Industries plc (NYSE:JHX) saw strong trading volume on Friday . 187,496 shares traded hands during mid-day trading, an increase of 204% from the previous session’s volume of 61,709 shares.The stock last traded at $39.01 and had previously closed at $38.71.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of James Hardie Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th.

James Hardie Industries Trading Up 0.4 %

The firm’s 50 day simple moving average is $35.08 and its two-hundred day simple moving average is $35.24. The stock has a market capitalization of $16.86 billion, a P/E ratio of 33.63, a P/E/G ratio of 3.98 and a beta of 1.74. The company has a quick ratio of 1.44, a current ratio of 1.94 and a debt-to-equity ratio of 0.57.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings data on Tuesday, August 13th. The construction company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.01 billion. During the same quarter last year, the firm posted $0.39 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, analysts forecast that James Hardie Industries plc will post 1.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its holdings in James Hardie Industries by 1.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,002,215 shares of the construction company’s stock worth $38,756,000 after buying an additional 11,235 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of James Hardie Industries in the 2nd quarter worth $12,162,000. Jennison Associates LLC raised its holdings in shares of James Hardie Industries by 186.0% in the first quarter. Jennison Associates LLC now owns 335,239 shares of the construction company’s stock valued at $13,564,000 after purchasing an additional 218,033 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of James Hardie Industries by 39.7% during the first quarter. Acadian Asset Management LLC now owns 313,931 shares of the construction company’s stock valued at $12,697,000 after purchasing an additional 89,165 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in James Hardie Industries by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 70,496 shares of the construction company’s stock worth $2,223,000 after purchasing an additional 534 shares during the last quarter. Institutional investors 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.