Short Interest in James Hardie Industries plc (NYSE:JHX) Declines By 23.1%

James Hardie Industries plc (NYSE:JHX - Get Free Report) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 66,500 shares, a decline of 23.1% from the October 15th total of 86,500 shares. Based on an average daily volume of 105,100 shares, the days-to-cover ratio is presently 0.6 days.

James Hardie Industries Price Performance

Shares of NYSE:JHX traded up $0.92 during trading on Friday, hitting $36.09. 43,129 shares of the company's stock were exchanged, compared to its average volume of 74,602. The company has a market cap of $15.50 billion, a price-to-earnings ratio of 34.82, a PEG ratio of 3.93 and a beta of 1.76. The business's 50-day simple moving average is $35.67 and its 200 day simple moving average is $34.41. James Hardie Industries has a 52-week low of $29.88 and a 52-week high of $43.57. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.94 and a quick ratio of 1.44.

James Hardie Industries (NYSE:JHX - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The construction company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.01. The company had revenue of $960.80 million during the quarter, compared to analysts' expectations of $973.49 million. James Hardie Industries had a return on equity of 36.30% and a net margin of 11.16%. James Hardie Industries's revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 EPS. As a group, equities analysts predict that James Hardie Industries will post 1.47 EPS for the current year.

Institutional Trading of James Hardie Industries

A number of institutional investors have recently bought and sold shares of JHX. Blue Trust Inc. boosted its stake in shares of James Hardie Industries by 55.7% during the 2nd quarter. Blue Trust Inc. now owns 1,045 shares of the construction company's stock worth $33,000 after acquiring an additional 374 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of James Hardie Industries by 46.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,365 shares of the construction company's stock valued at $55,000 after acquiring an additional 432 shares during the last quarter. Huntington National Bank purchased a new position in James Hardie Industries in the third quarter worth approximately $55,000. Pinpoint Asset Management Ltd purchased a new position in shares of James Hardie Industries during the 3rd quarter worth $64,000. Finally, Cubist Systematic Strategies LLC purchased a new position in James Hardie Industries during the second quarter worth about $66,000. 7.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of James Hardie Industries from a "neutral" rating to an "overweight" rating in a research note on Wednesday, November 6th. StockNews.com cut James Hardie Industries from a "buy" rating to a "hold" rating in a research report on Tuesday.

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.