Short Interest in James Hardie Industries plc (NYSE:JHX) Declines By 18.9%

James Hardie Industries plc (NYSE:JHX) was the target of a significant drop in short interest in September. As of September 15th, there was short interest totalling 46,900 shares, a drop of 18.9% from the August 31st total of 57,800 shares. Based on an average daily trading volume, of 85,500 shares, the days-to-cover ratio is presently 0.5 days.

Analyst Ratings Changes

Separately, StockNews.com raised James Hardie Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC lifted its position in shares of James Hardie Industries by 186.0% during the first 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. Allspring Global Investments Holdings LLC acquired a new position in shares of James Hardie Industries in the 1st quarter worth approximately $71,000. Blue Trust Inc. increased its holdings in shares of James Hardie Industries by 55.7% in 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 last quarter. Acadian Asset Management LLC increased its holdings in shares of James Hardie Industries by 39.7% in the 1st quarter. Acadian Asset Management LLC now owns 313,931 shares of the construction company’s stock valued at $12,697,000 after acquiring an additional 89,165 shares during the last quarter. Finally, Syon Capital LLC raised its position in shares of James Hardie Industries by 40.2% during the 4th quarter. Syon Capital LLC now owns 10,993 shares of the construction company’s stock valued at $425,000 after acquiring an additional 3,154 shares in the last quarter. 7.96% of the stock is currently owned by institutional investors.

James Hardie Industries Stock Up 2.4 %

JHX stock traded up $0.92 during trading on Friday, reaching $39.46. The stock had a trading volume of 661,694 shares, compared to its average volume of 71,929. The company has a current ratio of 1.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.57. The firm has a fifty day moving average price of $35.64 and a 200 day moving average price of $35.15. The company has a market capitalization of $17.12 billion, a P/E ratio of 34.02, a PEG ratio of 4.32 and a beta of 1.74. James Hardie Industries has a 1-year low of $24.28 and a 1-year high of $43.57.

James Hardie Industries (NYSE:JHX) last issued its quarterly earnings results on Tuesday, August 13th. The construction company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. James Hardie Industries had a return on equity of 38.01% and a net margin of 12.78%. The firm had revenue of $991.90 million during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the business posted $0.39 earnings per share. James Hardie Industries’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities analysts anticipate that James Hardie Industries will post 1.46 earnings per share for the current year.

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.