James Hardie Industries PLC. (NYSE:JHX) Sees Large Decrease in Short Interest

James Hardie Industries PLC. (NYSE:JHX) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totaling 10,442,109 shares, a decrease of 32.5% from the December 15th total of 15,472,151 shares. Approximately 2.4% of the company’s stock are short sold. Based on an average daily trading volume, of 4,095,908 shares, the days-to-cover ratio is presently 2.5 days. Based on an average daily trading volume, of 4,095,908 shares, the days-to-cover ratio is presently 2.5 days. Approximately 2.4% of the company’s stock are short sold.

James Hardie Industries Stock Down 1.4%

Shares of NYSE JHX traded down $0.33 during midday trading on Friday, hitting $23.67. The stock had a trading volume of 6,691,745 shares, compared to its average volume of 4,497,082. The business’s 50 day moving average is $20.07 and its 200-day moving average is $22.04. James Hardie Industries has a 52 week low of $16.46 and a 52 week high of $34.96. The company has a quick ratio of 1.23, a current ratio of 1.79 and a debt-to-equity ratio of 0.80. The company has a market cap of $10.17 billion, a P/E ratio of 49.31, a PEG ratio of 8.95 and a beta of 1.80.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings data on Monday, November 17th. The construction company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. James Hardie Industries had a net margin of 4.67% and a return on equity of 18.40%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the business earned $0.36 EPS. The firm’s revenue for the quarter was up 34.5% on a year-over-year basis. As a group, analysts predict that James Hardie Industries will post 1.39 EPS for the current year.

Analyst Upgrades and Downgrades

JHX has been the subject of a number of recent research reports. Wolfe Research started coverage on shares of James Hardie Industries in a research report on Tuesday, September 30th. They set an “outperform” rating and a $25.00 price target for the company. Zacks Research downgraded shares of James Hardie Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 17th. Oppenheimer boosted their price target on James Hardie Industries from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. Citigroup upgraded James Hardie Industries from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 4th. Finally, CLSA upgraded James Hardie Industries to a “hold” rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.93.

Institutional Investors Weigh In On James Hardie Industries

Several institutional investors have recently modified their holdings of the business. TD Private Client Wealth LLC increased its holdings in James Hardie Industries by 70.4% in the 2nd quarter. TD Private Client Wealth LLC now owns 1,101 shares of the construction company’s stock worth $30,000 after buying an additional 455 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of James Hardie Industries by 641.2% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,223 shares of the construction company’s stock valued at $33,000 after acquiring an additional 1,058 shares during the last quarter. MAI Capital Management lifted its position in James Hardie Industries by 4,266.7% during the second quarter. MAI Capital Management now owns 1,310 shares of the construction company’s stock valued at $35,000 after purchasing an additional 1,280 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in James Hardie Industries by 11,238.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the construction company’s stock worth $40,000 after purchasing an additional 1,461 shares during the last quarter. Finally, AlphaCore Capital LLC purchased a new stake in James Hardie Industries in the second quarter worth approximately $52,000. 7.96% of the stock is owned by hedge funds and other institutional investors.

About James Hardie Industries

James Hardie Industries plc (NYSE: JHX) is a global manufacturer of high-performance fiber cement building products. The company specializes in exterior cladding, trim and soffit, as well as interior backerboard solutions designed for residential and commercial construction. By combining cement, sand and cellulose fibers, James Hardie produces durable, low-maintenance materials that resist moisture, fire and termite damage, catering to builders, contractors and homeowners through a network of distributors and retail channels.

The company’s flagship products include Hardie® Plank® and Hardie® Panel® siding systems, Hardie® BackerBoard® for tile applications, and a range of architectural trim solutions.