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

Shares of James Hardie Industries plc (NYSE:JHX) saw strong trading volume on Tuesday following a better than expected earnings announcement. 159,416 shares were traded during mid-day trading, an increase of 156% from the previous session’s volume of 62,164 shares.The stock last traded at $31.40 and had previously closed at $31.98.

The construction company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. James Hardie Industries had a return on equity of 38.97% and a net margin of 12.96%. The firm had revenue of $991.90 million during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company earned $0.39 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on JHX shares. Macquarie upgraded shares of James Hardie Industries from a “neutral” rating to an “outperform” rating in a research report on Tuesday, May 21st. JPMorgan Chase & Co. cut James Hardie Industries from an “overweight” rating to a “neutral” rating in a report on Tuesday, May 21st. Finally, StockNews.com cut James Hardie Industries from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 21st.

Institutional Trading of James Hardie Industries

Several large investors have recently added to or reduced their stakes in JHX. Atlas Capital Advisors LLC bought a new position in James Hardie Industries in the first quarter worth $30,000. GAMMA Investing LLC purchased a new position in James Hardie Industries during the 4th quarter valued at about $33,000. Blue Trust Inc. lifted its position in James Hardie Industries by 55.7% during the 2nd quarter. Blue Trust Inc. now owns 1,045 shares of the construction company’s stock valued at $33,000 after acquiring an additional 374 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in James Hardie Industries by 693.2% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,158 shares of the construction company’s stock worth $47,000 after purchasing an additional 1,012 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of James Hardie Industries during the first quarter valued at approximately $71,000. Institutional investors own 7.96% of the company’s stock.

James Hardie Industries Stock Down 1.7 %

The company has a quick ratio of 1.37, a current ratio of 1.79 and a debt-to-equity ratio of 0.60. The company’s fifty day moving average price is $32.83 and its 200-day moving average price is $35.69. The stock has a market capitalization of $13.63 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 2.93 and a beta of 1.71.

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.