James Hardie Industries plc (NYSE:JHX) Sees Significant Decrease in Short Interest

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

James Hardie Industries Trading Up 2.8 %

Shares of JHX stock opened at $36.15 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.94 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $15.52 billion, a P/E ratio of 35.79, a P/E/G ratio of 3.93 and a beta of 1.76. James Hardie Industries has a 12-month low of $29.88 and a 12-month high of $43.57. The firm has a 50-day moving average price of $35.68 and a 200 day moving average price of $34.41.

James Hardie Industries (NYSE:JHX) last announced its earnings results on Tuesday, November 12th. The construction company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. James Hardie Industries had a return on equity of 36.30% and a net margin of 11.16%. The business had revenue of $960.80 million for the quarter, compared to the consensus estimate of $973.49 million. During the same period in the previous year, the business earned $0.41 EPS. James Hardie Industries’s revenue was down 3.8% compared to the same quarter last year. Research analysts forecast that James Hardie Industries will post 1.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com downgraded James Hardie Industries from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. raised James Hardie Industries from a “neutral” rating to an “overweight” rating in a research note on Wednesday, November 6th.

Institutional Trading of James Hardie Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in JHX. Sequoia Financial Advisors LLC increased its position in James Hardie Industries by 2.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 12,494 shares of the construction company’s stock valued at $502,000 after acquiring an additional 318 shares in the last quarter. Blue Trust Inc. raised its position in James Hardie Industries by 55.7% in the 2nd quarter. Blue Trust Inc. now owns 1,045 shares of the construction company’s stock worth $33,000 after purchasing an additional 374 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in James Hardie Industries by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 32,630 shares of the construction company’s stock worth $1,029,000 after buying an additional 375 shares in the last quarter. GAMMA Investing LLC boosted its position in James Hardie Industries by 46.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,365 shares of the construction company’s stock valued at $55,000 after buying an additional 432 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of James Hardie Industries by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 70,496 shares of the construction company’s stock valued at $2,223,000 after buying an additional 534 shares during the period. 7.96% of the stock is currently owned by institutional investors and hedge funds.

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.