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

James Hardie Industries plc (NYSE:JHX) shares saw unusually-strong trading volume on Friday . Approximately 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 James Hardie Industries from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th.

James Hardie Industries Stock Up 0.4 %

The firm’s fifty day moving average is $35.08 and its 200-day moving average is $35.24. The company has a market capitalization of $16.86 billion, a P/E ratio of 33.63, a price-to-earnings-growth ratio of 3.98 and a beta of 1.74. 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, 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 net margin of 12.78% and a return on equity of 38.01%. The firm had revenue of $991.90 million for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the firm posted $0.39 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. As a group, equities research analysts predict that James Hardie Industries plc will post 1.46 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its holdings in James Hardie Industries by 1.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,002,215 shares of the construction company’s stock worth $38,756,000 after acquiring an additional 11,235 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in James Hardie Industries in the second quarter valued at $12,162,000. Jennison Associates LLC raised its position in James Hardie Industries by 186.0% during the 1st quarter. Jennison Associates LLC now owns 335,239 shares of the construction company’s stock worth $13,564,000 after purchasing an additional 218,033 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in James Hardie Industries by 39.7% during the 1st quarter. Acadian Asset Management LLC now owns 313,931 shares of the construction company’s stock worth $12,697,000 after buying an additional 89,165 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of 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 buying an additional 534 shares during the last quarter. Institutional investors and hedge funds 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.