James Hardie Industries (NYSE:JHX) Sees Large Volume Increase – Time to Buy?

Shares of James Hardie Industries plc (NYSE:JHX) saw an uptick in trading volume on Monday . 83,557 shares were traded during trading, an increase of 17% from the previous session’s volume of 71,327 shares.The stock last traded at $36.29 and had previously closed at $35.68.

Wall Street Analyst Weigh In

Separately, StockNews.com raised James Hardie Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th.

James Hardie Industries Stock Up 3.4 %

The company’s 50 day moving average is $36.11 and its 200 day moving average is $34.95. The company has a market cap of $16.00 billion, a PE ratio of 31.28, a P/E/G ratio of 4.08 and a beta of 1.74. The company has a current ratio of 1.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.57.

James Hardie Industries (NYSE:JHX) last issued its earnings results on Tuesday, August 13th. The construction company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. The business had revenue of $991.90 million for the quarter, compared to analyst estimates of $1.01 billion. James Hardie Industries had a net margin of 12.78% and a return on equity of 38.01%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company posted $0.39 earnings per share. As a group, analysts predict that James Hardie Industries plc will post 1.46 earnings per share for the current fiscal year.

Institutional Trading of James Hardie Industries

A number of hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in shares of James Hardie Industries by 38.8% in the 1st quarter. GAMMA Investing LLC now owns 1,219 shares of the construction company’s stock worth $49,000 after acquiring an additional 341 shares in the last quarter. Blue Trust Inc. lifted its position in shares of James Hardie Industries by 55.7% during the second quarter. Blue Trust Inc. now owns 1,045 shares of the construction company’s stock valued at $33,000 after buying an additional 374 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of James Hardie Industries by 1.2% in 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 during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of James Hardie Industries by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 70,496 shares of the construction company’s stock worth $2,223,000 after acquiring an additional 534 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its stake in shares of James Hardie Industries by 9.1% during the 2nd quarter. Evergreen Capital Management LLC now owns 6,682 shares of the construction company’s stock worth $211,000 after acquiring an additional 559 shares in the last quarter. 7.96% of the stock is owned by hedge funds and other institutional investors.

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.