James Hardie Industries (NYSE:JHX) Shares Gap Down to $42.00

James Hardie Industries plc (NYSE:JHX) gapped down before the market opened on Monday . The stock had previously closed at $42.00, but opened at $39.40. James Hardie Industries shares last traded at $39.37, with a volume of 429,444 shares traded.

Wall Street Analyst Weigh In

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

James Hardie Industries Price Performance

The company has a quick ratio of 1.44, a current ratio of 1.94 and a debt-to-equity ratio of 0.57. The company has a fifty day simple moving average of $35.25 and a two-hundred day simple moving average of $35.18. The company has a market cap of $16.88 billion, a price-to-earnings ratio of 33.94, a price-to-earnings-growth ratio of 3.98 and a beta of 1.74.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC lifted its position in 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 buying an additional 218,033 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in James Hardie Industries during the first quarter worth approximately $71,000. Blue Trust Inc. increased its position in James Hardie Industries by 55.7% during the second quarter. Blue Trust Inc. now owns 1,045 shares of the construction company’s stock worth $33,000 after purchasing an additional 374 shares during the last quarter. Acadian Asset Management LLC raised its stake in 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 worth $12,697,000 after purchasing an additional 89,165 shares during the period. Finally, Syon Capital LLC boosted its holdings in shares of James Hardie Industries by 40.2% in the 4th quarter. Syon Capital LLC now owns 10,993 shares of the construction company’s stock valued at $425,000 after purchasing an additional 3,154 shares during the last quarter. Institutional investors and hedge funds own 7.96% of the company’s stock.

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.