James Hardie Industries plc (NYSE:JHX) Short Interest Down 23.1% in October

James Hardie Industries plc (NYSE:JHX) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 66,500 shares, a drop of 23.1% from the October 15th total of 86,500 shares. Based on an average daily volume of 105,100 shares, the days-to-cover ratio is presently 0.6 days.

James Hardie Industries Stock Performance

James Hardie Industries stock opened at $36.15 on Friday. The firm has a market capitalization of $15.52 billion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 3.93 and a beta of 1.76. James Hardie Industries has a one year low of $29.88 and a one year high of $43.57. The stock’s 50 day moving average price is $35.68 and its 200 day moving average price is $34.41. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.44 and a current ratio of 1.94.

James Hardie Industries (NYSE:JHX) last posted its earnings results on Tuesday, November 12th. The construction company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $960.80 million for the quarter, compared to analysts’ expectations of $973.49 million. James Hardie Industries had a net margin of 11.16% and a return on equity of 36.30%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 earnings per share. As a group, sell-side analysts expect that James Hardie Industries will post 1.47 EPS for the current fiscal year.

Institutional Trading of James Hardie Industries

Several large investors have recently modified their holdings of JHX. Blue Trust Inc. lifted its stake in shares of James Hardie Industries by 55.7% in the second quarter. Blue Trust Inc. now owns 1,045 shares of the construction company’s stock worth $33,000 after acquiring an additional 374 shares in the last quarter. GAMMA Investing LLC raised its position in shares of James Hardie Industries by 46.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,365 shares of the construction company’s stock valued at $55,000 after purchasing an additional 432 shares in the last quarter. Huntington National Bank purchased a new position in shares of James Hardie Industries during the 3rd quarter valued at approximately $55,000. Pinpoint Asset Management Ltd purchased a new position in shares of James Hardie Industries during the 3rd quarter valued at approximately $64,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of James Hardie Industries during the second quarter worth approximately $66,000. 7.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JHX has been the subject of a number of research reports. JPMorgan Chase & Co. upgraded James Hardie Industries from a “neutral” rating to an “overweight” rating in a report on Wednesday, November 6th. StockNews.com lowered shares of James Hardie Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th.

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.