James Hardie Industries (NYSE:JHX) Sees Strong Trading Volume – What’s Next?

James Hardie Industries plc (NYSE:JHX) saw an uptick in trading volume on Monday . 467,377 shares traded hands during trading, an increase of 424% from the previous session’s volume of 89,268 shares.The stock last traded at $24.36 and had previously closed at $29.28.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on JHX shares. StockNews.com raised James Hardie Industries from a “hold” rating to a “buy” rating in a research report on Friday, March 21st. Jefferies Financial Group reaffirmed a “buy” rating on shares of James Hardie Industries in a research report on Thursday, January 30th. Truist Financial initiated coverage on shares of James Hardie Industries in a research note on Tuesday, December 10th. They set a “buy” rating and a $45.00 price objective for the company. Macquarie downgraded shares of James Hardie Industries from an “outperform” rating to a “neutral” rating in a research note on Monday. Finally, Morgan Stanley raised James Hardie Industries from an “equal weight” rating to an “overweight” rating in a research report on Monday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, James Hardie Industries presently has an average rating of “Moderate Buy” and an average target price of $45.00.

James Hardie Industries Trading Down 2.1 %

The stock has a market cap of $10.21 billion, a price-to-earnings ratio of 23.52, a P/E/G ratio of 6.16 and a beta of 1.84. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.18 and a quick ratio of 1.50. The company’s fifty day moving average price is $32.18 and its 200-day moving average price is $33.82.

James Hardie Industries (NYSE:JHX) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. James Hardie Industries had a net margin of 11.15% and a return on equity of 33.65%. The business had revenue of $953.30 million for the quarter, compared to analyst estimates of $967.63 million. On average, research analysts expect that James Hardie Industries plc will post 1.39 EPS for the current fiscal year.

Institutional Trading of James Hardie Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Forum Financial Management LP raised its stake in shares of James Hardie Industries by 63.6% in the fourth quarter. Forum Financial Management LP now owns 8,694 shares of the construction company’s stock worth $268,000 after purchasing an additional 3,381 shares during the last quarter. GTS Securities LLC acquired a new position in James Hardie Industries in the 4th quarter worth approximately $401,000. Quantinno Capital Management LP raised its position in James Hardie Industries by 9.1% during the 4th quarter. Quantinno Capital Management LP now owns 63,915 shares of the construction company’s stock worth $1,969,000 after buying an additional 5,339 shares during the last quarter. Millennium Management LLC lifted its stake in James Hardie Industries by 14.8% during the 4th quarter. Millennium Management LLC now owns 19,561 shares of the construction company’s stock valued at $603,000 after acquiring an additional 2,524 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in shares of James Hardie Industries by 20.0% in the 4th quarter. Lazard Asset Management LLC now owns 964,583 shares of the construction company’s stock valued at $29,718,000 after acquiring an additional 161,059 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.