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

James Hardie Industries plc (NYSE:JHX) was the target of a significant decrease in short interest in February. As of February 15th, there was short interest totalling 49,800 shares, a decrease of 38.7% from the January 31st total of 81,200 shares. Based on an average daily trading volume, of 90,400 shares, the days-to-cover ratio is currently 0.6 days.

Hedge Funds Weigh In On James Hardie Industries

Several institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC grew its holdings in James Hardie Industries by 20.0% during the 4th quarter. Lazard Asset Management LLC now owns 964,583 shares of the construction company’s stock valued at $29,718,000 after buying an additional 161,059 shares in the last quarter. Bank of America Corp DE grew its holdings in James Hardie Industries by 19.4% during 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 buying an additional 73,504 shares in the last quarter. Northern Trust Corp grew its holdings 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 valued at $11,528,000 after buying an additional 161,899 shares in the last quarter. Natixis Advisors LLC grew its holdings in James Hardie Industries by 10.3% during the 4th quarter. Natixis Advisors LLC now owns 190,243 shares of the construction company’s stock valued at $5,861,000 after buying an additional 17,783 shares in the last quarter. Finally, FMR LLC grew its holdings in James Hardie Industries by 22.5% during the 3rd quarter. FMR LLC now owns 160,273 shares of the construction company’s stock valued at $6,435,000 after buying an additional 29,401 shares in the last quarter. Hedge funds and other institutional investors own 7.96% of the company’s stock.

James Hardie Industries Price Performance

Shares of NYSE:JHX traded up $0.30 during trading on Friday, hitting $31.76. 71,700 shares of the company’s stock were exchanged, compared to its average volume of 91,615. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.18 and a quick ratio of 1.50. James Hardie Industries has a 52-week low of $29.88 and a 52-week high of $43.57. The business’s 50-day simple moving average is $32.43 and its 200 day simple moving average is $34.42. The company has a market cap of $13.65 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 6.16 and a beta of 1.81.

James Hardie Industries (NYSE:JHX) last released its earnings results on Tuesday, February 18th. The construction company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. The firm had revenue of $953.30 million during the quarter, compared to analysts’ expectations 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, equities analysts predict that James Hardie Industries will post 1.39 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on JHX. Truist Financial began coverage on James Hardie Industries in a research report on Tuesday, December 10th. They issued a “buy” rating and a $45.00 price target for the company. StockNews.com cut James Hardie Industries from a “buy” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. upgraded James Hardie Industries from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of James Hardie Industries in a research report on Thursday, January 30th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.00.

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.