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

Shares of James Hardie Industries plc (NYSE:JHX - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 839,037 shares were traded during mid-day trading, an increase of 169% from the previous session's volume of 312,256 shares.The stock last traded at $20.77 and had previously closed at $20.49.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Jefferies Financial Group reissued a "buy" rating on shares of James Hardie Industries in a research report on Thursday, January 30th. Morgan Stanley raised shares of James Hardie Industries from an "equal weight" rating to an "overweight" rating in a research report on Monday, March 24th. Truist Financial set a $45.00 price target on shares of James Hardie Industries in a report on Monday, March 24th. Raymond James set a $55.00 price objective on James Hardie Industries in a report on Monday, March 24th. Finally, Bank of America upgraded James Hardie Industries from an "underperform" rating to a "buy" rating and dropped their target price for the stock from $27.40 to $27.35 in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, James Hardie Industries presently has an average rating of "Moderate Buy" and a consensus target price of $42.45.

James Hardie Industries Stock Performance

The business's 50-day simple moving average is $28.81 and its two-hundred day simple moving average is $32.33. The company has a quick ratio of 1.50, a current ratio of 2.18 and a debt-to-equity ratio of 0.52. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 6.16 and a beta of 1.80.

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

Hedge Funds Weigh In On James Hardie Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JHX. Lazard Asset Management LLC boosted its holdings in James Hardie Industries by 20.0% in the 4th quarter. Lazard Asset Management LLC now owns 964,583 shares of the construction company's stock worth $29,718,000 after buying an additional 161,059 shares during the last quarter. Bank of America Corp DE raised its stake in James Hardie Industries by 19.4% in the 4th quarter. Bank of America Corp DE now owns 453,206 shares of the construction company's stock valued at $13,963,000 after purchasing an additional 73,504 shares during the last quarter. Northern Trust Corp boosted its stake in James Hardie Industries by 76.3% during the 4th quarter. Northern Trust Corp now owns 374,164 shares of the construction company's stock worth $11,528,000 after purchasing an additional 161,899 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of James Hardie Industries by 10.3% during the fourth quarter. Natixis Advisors LLC now owns 190,243 shares of the construction company's stock worth $5,861,000 after buying an additional 17,783 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of James Hardie Industries by 3.0% in the fourth quarter. Renaissance Technologies LLC now owns 122,127 shares of the construction company's stock valued at $3,763,000 after buying an additional 3,500 shares during the last quarter. 7.96% of the stock is owned by hedge funds and other institutional investors.

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.