James Hardie Industries (NYSE:JHX) Sees Unusually-High Trading Volume - Here's What Happened

Shares of James Hardie Industries plc (NYSE:JHX - Get Free Report) saw an uptick in trading volume on Monday . 3,498,751 shares changed hands during trading, an increase of 274% from the previous session's volume of 936,507 shares.The stock last traded at $26.95 and had previously closed at $25.76.

Analyst Ratings Changes

Several brokerages recently issued reports on JHX. Truist Financial cut their target price on shares of James Hardie Industries from $45.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, May 21st. Macquarie lowered shares of James Hardie Industries from an "outperform" rating to a "neutral" rating in a research report on Monday, March 24th. Bank of America upgraded shares of James Hardie Industries from an "underperform" rating to a "buy" rating and dropped their target price for the stock from $27.40 to $27.35 in a research report on Thursday, March 27th. Wall Street Zen downgraded shares of James Hardie Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, Morgan Stanley raised shares of James Hardie Industries from an "equal weight" rating to an "overweight" rating in a research note on Monday, March 24th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $39.12.

James Hardie Industries Stock Down 0.6%

The company has a market cap of $11.61 billion, a PE ratio of 26.74, a P/E/G ratio of 6.16 and a beta of 1.73. The company's 50 day moving average is $23.91 and its 200 day moving average is $29.00. The company has a current ratio of 2.18, a quick ratio of 1.50 and a debt-to-equity ratio of 0.52.

James Hardie Industries (NYSE:JHX - Get Free Report) last issued its earnings results on Tuesday, May 20th. The construction company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). James Hardie Industries had a return on equity of 33.65% and a net margin of 11.15%. The business had revenue of $971.50 million for the quarter, compared to the consensus estimate of $983.86 million. During the same quarter in the previous year, the company earned $1.61 earnings per share. The firm's revenue was down 3.3% on a year-over-year basis. As a group, analysts predict that James Hardie Industries plc will post 1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JHX. TD Private Client Wealth LLC boosted its holdings in shares of James Hardie Industries by 45.3% in the 4th quarter. TD Private Client Wealth LLC now owns 972 shares of the construction company's stock valued at $30,000 after buying an additional 303 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in James Hardie Industries during the 4th quarter worth approximately $55,000. SVB Wealth LLC purchased a new position in James Hardie Industries during the 1st quarter worth approximately $57,000. Huntington National Bank raised its position in James Hardie Industries by 64.7% during the 4th quarter. Huntington National Bank now owns 2,260 shares of the construction company's stock worth $70,000 after buying an additional 888 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of James Hardie Industries by 12.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,683 shares of the construction company's stock valued at $89,000 after purchasing an additional 397 shares in the last quarter. 7.96% of the stock is currently owned by institutional investors.

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.