James Hardie Industries (NYSE:JHX) Sees Strong Trading Volume - What's Next?

Shares of James Hardie Industries plc (NYSE:JHX - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 83,557 shares changed hands during mid-day trading, an increase of 17% from the previous session's volume of 71,327 shares.The stock last traded at $36.29 and had previously closed at $35.68.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of James Hardie Industries from a "hold" rating to a "buy" rating in a report on Tuesday, September 10th.

James Hardie Industries Price Performance

The firm has a market capitalization of $15.96 billion, a price-to-earnings ratio of 31.79, a PEG ratio of 4.08 and a beta of 1.74. 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 business has a 50-day moving average price of $36.11 and a two-hundred day moving average price of $34.95.

James Hardie Industries (NYSE:JHX - Get Free Report) last posted its earnings results on Tuesday, August 13th. The construction company reported $0.41 earnings per share (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 company had revenue of $991.90 million for the quarter, compared to analysts' expectations of $1.01 billion. During the same period last year, the business posted $0.39 earnings per share. The firm's quarterly revenue was up 3.9% compared to the same quarter last year. As a group, research analysts forecast that James Hardie Industries plc will post 1.46 EPS for the current year.

Institutional Investors Weigh In On James Hardie Industries

Several large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in James Hardie Industries by 1.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,002,215 shares of the construction company's stock valued at $38,756,000 after acquiring an additional 11,235 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of James Hardie Industries during the second quarter valued at $12,162,000. Jennison Associates LLC raised its stake 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 valued at $13,564,000 after purchasing an additional 218,033 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of James Hardie Industries by 39.7% during the first quarter. Acadian Asset Management LLC now owns 313,931 shares of the construction company's stock valued at $12,697,000 after purchasing an additional 89,165 shares in the last quarter. Finally, Creative Planning lifted its holdings in James Hardie Industries by 16.3% in the third quarter. Creative Planning now owns 77,168 shares of the construction company's stock worth $3,098,000 after purchasing an additional 10,803 shares during the period. Institutional investors and hedge funds own 7.96% of the company's stock.

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.