James Hardie Industries (NYSE:JHX) Sees Unusually-High Trading Volume - Here's Why

James Hardie Industries plc (NYSE:JHX - Get Free Report) saw strong trading volume on Monday . 1,211,758 shares traded hands during trading, an increase of 195% from the previous session's volume of 410,431 shares.The stock last traded at $22.36 and had previously closed at $22.55.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Truist Financial set a $45.00 price target on James Hardie Industries in a research report on Monday, March 24th. Macquarie lowered James Hardie Industries from an "outperform" rating to a "neutral" rating in a research note on Monday, March 24th. Raymond James set a $55.00 price objective on shares of James Hardie Industries in a research report on Monday, March 24th. Bank of America upgraded shares of James Hardie Industries from an "underperform" rating to a "buy" rating and cut their price target for the company from $27.40 to $27.35 in a research note on Thursday, March 27th. Finally, Morgan Stanley raised shares of James Hardie Industries from an "equal weight" rating to an "overweight" rating in a report on Monday, March 24th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $42.45.

James Hardie Industries Stock Up 5.1 %

The firm has a market cap of $9.71 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 6.16 and a beta of 1.80. The business has a fifty day simple moving average of $27.68 and a 200 day simple moving average of $31.79. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.18 and a quick ratio of 1.50.

James Hardie Industries (NYSE:JHX - Get Free Report) last announced its earnings results on Tuesday, February 18th. The construction company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. The company had revenue of $953.30 million for the quarter, compared to analysts' expectations of $967.63 million. James Hardie Industries had a net margin of 11.15% and a return on equity of 33.65%. As a group, equities analysts forecast that James Hardie Industries plc will post 1.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of JHX. Versant Capital Management Inc acquired a new stake in shares of James Hardie Industries in the fourth quarter valued at approximately $25,000. R Squared Ltd purchased a new stake in James Hardie Industries in the 4th quarter valued at $27,000. TD Private Client Wealth LLC increased its stake in shares of James Hardie Industries by 45.3% in the 4th quarter. TD Private Client Wealth LLC now owns 972 shares of the construction company's stock worth $30,000 after acquiring an additional 303 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of James Hardie Industries in the 4th quarter worth $55,000. Finally, Huntington National Bank boosted its position in shares of James Hardie Industries by 64.7% during the 4th quarter. Huntington National Bank now owns 2,260 shares of the construction company's stock valued at $70,000 after acquiring an additional 888 shares during the last quarter. 7.96% of the stock is owned by hedge funds and other institutional investors.

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.