James Hardie Industries PLC. (NYSE:JHX) Sees Large Growth in Short Interest

Key Points

• James Hardie Industries PLC experienced an **82.7% increase in short interest** in August, with short interest totaling 14,470,000 shares as of August 31.
• Despite recent analyst attention and a **majority "Buy" rating** from analysts, the company missed its quarterly earnings estimate, reporting $0.29 EPS against the expected $0.36.
• Institutional investors have shown significant activity with **notable stake increases**, including a 430.8% boost by Hudson Bay Capital Management LP in the second quarter.

James Hardie Industries PLC. (NYSE:JHX - Get Free Report) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totaling 14,470,000 shares, an increase of 82.7% from the August 15th total of 7,920,000 shares. Currently, 3.4% of the company's stock are short sold. Based on an average trading volume of 8,230,000 shares, the short-interest ratio is presently 1.8 days. Based on an average trading volume of 8,230,000 shares, the short-interest ratio is presently 1.8 days. Currently, 3.4% of the company's stock are short sold.

Wall Street Analysts Forecast Growth

JHX has been the topic of several recent analyst reports. Baird R W raised James Hardie Industries to a "strong-buy" rating in a research report on Friday, July 11th. Macquarie raised James Hardie Industries from a "neutral" rating to an "outperform" rating in a research report on Monday, July 28th. Truist Financial reduced their target price on James Hardie Industries from $35.00 to $25.00 and set a "buy" rating on the stock in a research report on Wednesday, August 20th. UBS Group reaffirmed a "neutral" rating on shares of James Hardie Industries in a research report on Thursday, August 21st. Finally, Jefferies Financial Group initiated coverage on James Hardie Industries in a research report on Friday, August 8th. They set a "buy" rating and a $34.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $33.27.

James Hardie Industries Stock Performance

James Hardie Industries stock traded up $0.01 during trading hours on Friday, hitting $20.02. 4,219,961 shares of the stock traded hands, compared to its average volume of 12,338,840. The company has a debt-to-equity ratio of 1.12, a current ratio of 3.76 and a quick ratio of 3.31. The firm's 50 day moving average price is $24.77 and its 200-day moving average price is $25.29. The stock has a market capitalization of $8.61 billion, a price-to-earnings ratio of 26.00, a P/E/G ratio of 2.35 and a beta of 1.75. James Hardie Industries has a 1 year low of $17.91 and a 1 year high of $43.57.

James Hardie Industries (NYSE:JHX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The construction company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.07). The firm had revenue of $899.90 million for the quarter, compared to analysts' expectations of $982.60 million. James Hardie Industries had a net margin of 8.75% and a return on equity of 27.95%. The firm's revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 EPS. As a group, equities analysts expect that James Hardie Industries will post 1.39 EPS for the current fiscal year.

Institutional Trading of James Hardie Industries

Several large investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its stake in James Hardie Industries by 67.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,576 shares of the construction company's stock valued at $67,000 after purchasing an additional 1,034 shares during the last quarter. Orion Porfolio Solutions LLC boosted its stake in shares of James Hardie Industries by 91.3% in the second quarter. Orion Porfolio Solutions LLC now owns 67,263 shares of the construction company's stock worth $1,809,000 after buying an additional 32,107 shares during the last quarter. Hudson Bay Capital Management LP boosted its stake in shares of James Hardie Industries by 430.8% in the second quarter. Hudson Bay Capital Management LP now owns 265,398 shares of the construction company's stock worth $7,137,000 after buying an additional 215,398 shares during the last quarter. Rexford Capital Inc. purchased a new stake in shares of James Hardie Industries in the second quarter worth about $129,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of James Hardie Industries by 95,062.5% in the second quarter. Tower Research Capital LLC TRC now owns 22,839 shares of the construction company's stock worth $614,000 after buying an additional 22,815 shares during the last quarter. Hedge funds and other institutional investors 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.

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