James Hardie Industries plc (NYSE:JHX) Sees Significant Decline in Short Interest

James Hardie Industries plc (NYSE:JHX) was the target of a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 9,800 shares, a decrease of 94.2% from the December 15th total of 170,100 shares. Based on an average trading volume of 90,600 shares, the short-interest ratio is currently 0.1 days.

Hedge Funds Weigh In On James Hardie Industries

A number of hedge funds have recently bought and sold shares of JHX. Point72 Asset Management L.P. acquired a new position in shares of James Hardie Industries during the 2nd quarter worth approximately $12,162,000. Natixis Advisors LLC raised its position in James Hardie Industries by 317.2% during the third quarter. Natixis Advisors LLC now owns 172,460 shares of the construction company’s stock worth $6,924,000 after acquiring an additional 131,120 shares during the period. Mediolanum International Funds Ltd purchased a new position in James Hardie Industries during the third quarter valued at $2,369,000. FMR LLC lifted its holdings in James Hardie Industries by 22.5% during the third quarter. FMR LLC now owns 160,273 shares of the construction company’s stock valued at $6,435,000 after purchasing an additional 29,401 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its position in shares of James Hardie Industries by 83.9% in the third quarter. Crossmark Global Holdings Inc. now owns 51,996 shares of the construction company’s stock valued at $2,088,000 after purchasing an additional 23,723 shares during the period. Hedge funds and other institutional investors own 7.96% of the company’s stock.

James Hardie Industries Stock Performance

NYSE JHX traded up $1.13 during mid-day trading on Wednesday, reaching $32.88. 89,656 shares of the stock were exchanged, compared to its average volume of 104,984. The company has a market capitalization of $14.13 billion, a P/E ratio of 32.55, a P/E/G ratio of 4.27 and a beta of 1.80. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.50 and a current ratio of 2.02. The business’s 50 day moving average is $33.51 and its 200-day moving average is $34.56. James Hardie Industries has a 1 year low of $29.88 and a 1 year high of $43.57.

James Hardie Industries (NYSE:JHX) last posted its earnings results on Tuesday, November 12th. The construction company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. James Hardie Industries had a net margin of 11.16% and a return on equity of 35.93%. The business had revenue of $960.80 million for the quarter, compared to analyst estimates of $973.49 million. During the same period in the prior year, the company posted $0.41 EPS. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, equities research analysts forecast that James Hardie Industries will post 1.47 EPS for the current fiscal year.

Analyst Ratings Changes

JHX has been the subject of several recent research reports. StockNews.com cut shares of James Hardie Industries from a “buy” rating to a “hold” rating in a report on Wednesday, December 25th. JPMorgan Chase & Co. raised James Hardie Industries from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 6th. Finally, Truist Financial began coverage on James Hardie Industries in a report on Tuesday, December 10th. They issued a “buy” rating and a $45.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $40.25.

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.