James Hardie Industries (NYSE:JHX) Sees Unusually-High Trading Volume – Time to Buy?

James Hardie Industries plc (NYSE:JHX) shares saw an uptick in trading volume on Monday . 83,557 shares were traded 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.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of James Hardie Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th.

James Hardie Industries Stock Up 0.7 %

The firm has a 50-day moving average of $36.25 and a two-hundred day moving average of $34.90. The firm has a market cap of $16.08 billion, a price-to-earnings ratio of 31.96, 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.

James Hardie Industries (NYSE:JHX) last issued its quarterly earnings results on Tuesday, August 13th. The construction company reported $0.41 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the company earned $0.39 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts predict that James Hardie Industries plc will post 1.46 earnings per share for the current fiscal year.

Institutional Trading of James Hardie Industries

A number of hedge funds have recently bought and sold shares of JHX. Creative Planning raised its position in shares of James Hardie Industries by 16.3% during the third quarter. Creative Planning now owns 77,168 shares of the construction company’s stock valued at $3,098,000 after buying an additional 10,803 shares during the last quarter. Ritholtz Wealth Management bought a new position in James Hardie Industries during the third quarter valued at about $359,000. Boston Common Asset Management LLC raised its holdings in James Hardie Industries by 4.8% in the 3rd quarter. Boston Common Asset Management LLC now owns 55,528 shares of the construction company’s stock valued at $2,229,000 after acquiring an additional 2,546 shares in the last quarter. CWM LLC lifted its position in shares of James Hardie Industries by 55.6% in the 3rd quarter. CWM LLC now owns 2,751 shares of the construction company’s stock worth $110,000 after acquiring an additional 983 shares during the period. Finally, GAMMA Investing LLC grew its holdings 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 worth $55,000 after purchasing an additional 432 shares in the last quarter. 7.96% of the stock is owned by 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.