James Hardie Industries (NYSE:JHX) Shares Down 3.1% – Here’s What Happened

James Hardie Industries plc (NYSE:JHX) dropped 3.1% during trading on Friday . The stock traded as low as $35.43 and last traded at $35.55. Approximately 4,823 shares changed hands during trading, a decline of 94% from the average daily volume of 75,322 shares. The stock had previously closed at $36.70.

Analyst Upgrades and Downgrades

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

James Hardie Industries Stock Down 2.6 %

The company has a market capitalization of $15.51 billion, a price-to-earnings ratio of 30.83, a price-to-earnings-growth ratio of 4.08 and a beta of 1.74. The firm’s 50 day moving average price is $36.47 and its two-hundred day moving average price is $34.87. 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, topping 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 for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the business earned $0.39 earnings per share. The business’s revenue was up 3.9% compared to the same quarter last year. Sell-side analysts anticipate that James Hardie Industries plc will post 1.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On James Hardie Industries

A number of large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its holdings in shares of James Hardie Industries by 38.8% in the first quarter. GAMMA Investing LLC now owns 1,219 shares of the construction company’s stock valued at $49,000 after purchasing an additional 341 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of James Hardie Industries by 55.7% during the 2nd quarter. Blue Trust Inc. now owns 1,045 shares of the construction company’s stock worth $33,000 after buying an additional 374 shares during the period. Bank of New York Mellon Corp grew its stake in James Hardie Industries by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 32,630 shares of the construction company’s stock valued at $1,029,000 after buying an additional 375 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings 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 acquiring an additional 534 shares during the period. Finally, Evergreen Capital Management LLC lifted its position in James Hardie Industries by 9.1% during the second quarter. Evergreen Capital Management LLC now owns 6,682 shares of the construction company’s stock worth $211,000 after acquiring an additional 559 shares during the last quarter. Institutional investors 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.