James Hardie Industries PLC. (NYSE:JHX) Short Interest Update

Key Points

• Short interest fell 18.1% to 14,325,330 shares as of March 13, equivalent to about 3.3% of shares short and a days-to-cover ratio of 2.5 days.
• James Hardie beat Q4 EPS estimates ($0.24 vs. $0.23) and reported revenue of $1.24 billion, up 30.1% year-over-year, with analysts forecasting roughly 1.39 EPS for the current year.
• Shares traded at $17.52 (down 2.8%) giving a market cap of $7.53 billion, and the analyst consensus is a “Moderate Buy” with an average target price of $26.63 (10 Buys, 4 Holds).

James Hardie Industries PLC. (NYSE:JHX - Get Free Report) was the target of a large decline in short interest in the month of March. As of March 13th, there was short interest totaling 14,325,330 shares, a decline of 18.1% from the February 26th total of 17,500,155 shares. Approximately 3.3% of the company's shares are short sold. Based on an average daily volume of 5,823,429 shares, the days-to-cover ratio is presently 2.5 days.

Institutional Investors Weigh In On James Hardie Industries

A number of institutional investors have recently made changes to their positions in JHX. Corient Private Wealth LLC boosted its position in shares of James Hardie Industries by 840.0% during the fourth quarter. Corient Private Wealth LLC now owns 214,417 shares of the construction company's stock valued at $4,471,000 after buying an additional 191,606 shares during the last quarter. MidFirst Bank bought a new position in James Hardie Industries during the fourth quarter valued at approximately $65,000. Empowered Funds LLC purchased a new stake in James Hardie Industries in the fourth quarter worth approximately $107,000. Tudor Investment Corp ET AL boosted its holdings in James Hardie Industries by 4.6% in the fourth quarter. Tudor Investment Corp ET AL now owns 366,799 shares of the construction company's stock worth $7,611,000 after purchasing an additional 16,039 shares during the last quarter. Finally, Polymer Capital Management US LLC grew its position in James Hardie Industries by 20.5% in the 4th quarter. Polymer Capital Management US LLC now owns 72,300 shares of the construction company's stock worth $1,500,000 after purchasing an additional 12,300 shares during the period. Hedge funds and other institutional investors own 7.96% of the company's stock.

James Hardie Industries Stock Down 2.8%

Shares of NYSE:JHX traded down $0.51 on Monday, hitting $17.52. 4,224,305 shares of the company traded hands, compared to its average volume of 6,511,241. The stock has a 50 day simple moving average of $22.78 and a 200-day simple moving average of $21.13. The company has a quick ratio of 0.95, a current ratio of 1.54 and a debt-to-equity ratio of 0.73. The company has a market cap of $7.53 billion, a PE ratio of 64.87, a PEG ratio of 4.02 and a beta of 1.78. James Hardie Industries has a 52 week low of $16.46 and a 52 week high of $29.83.

James Hardie Industries (NYSE:JHX - Get Free Report) last announced its quarterly earnings results on Tuesday, February 10th. The construction company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The company had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.21 billion. James Hardie Industries had a net margin of 2.70% and a return on equity of 13.52%. James Hardie Industries's revenue was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. As a group, research analysts expect that James Hardie Industries will post 1.39 earnings per share for the current year.

Analysts Set New Price Targets

JHX has been the topic of a number of research reports. Raymond James Financial set a $21.00 target price on shares of James Hardie Industries in a research note on Monday, December 8th. Zacks Research lowered shares of James Hardie Industries from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 17th. JPMorgan Chase & Co. raised James Hardie Industries from a "neutral" rating to an "overweight" rating in a research report on Wednesday, February 11th. Truist Financial upped their target price on James Hardie Industries from $28.00 to $30.00 and gave the stock a "buy" rating in a report on Wednesday, February 11th. Finally, Barclays raised their target price on James Hardie Industries from $21.00 to $26.00 and gave the company an "equal weight" rating in a research note on Thursday, February 12th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $26.63.

James Hardie Industries Company Profile

James Hardie Industries plc NYSE: JHX is a global manufacturer of high-performance fiber cement building products. The company specializes in exterior cladding, trim and soffit, as well as interior backerboard solutions designed for residential and commercial construction. By combining cement, sand and cellulose fibers, James Hardie produces durable, low-maintenance materials that resist moisture, fire and termite damage, catering to builders, contractors and homeowners through a network of distributors and retail channels.

The company's flagship products include Hardie® Plank® and Hardie® Panel® siding systems, Hardie® BackerBoard® for tile applications, and a range of architectural trim solutions.

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