James Hardie Industries (NYSE:JHX) Stock Price Up 6.5%

James Hardie Industries plc (NYSE:JHX) rose 6.5% during trading on Thursday . The company traded as high as $38.56 and last traded at $38.56. Approximately 10,683 shares changed hands during trading, a decline of 82% from the average daily volume of 60,827 shares. The stock had previously closed at $36.19.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of James Hardie Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th.

James Hardie Industries Price Performance

The firm’s 50-day moving average price is $34.86 and its 200-day moving average price is $35.21. The company has a current ratio of 1.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $16.71 billion, a PE ratio of 33.24, a PEG ratio of 3.98 and a beta of 1.74.

James Hardie Industries (NYSE:JHX) last announced its earnings results on Tuesday, August 13th. The construction company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.03. James Hardie Industries had a net margin of 12.78% and a return on equity of 38.01%. The firm had revenue of $991.90 million for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company earned $0.39 EPS. The business’s revenue was up 3.9% compared to the same quarter last year. On average, equities analysts forecast that James Hardie Industries plc will post 1.46 EPS for the current fiscal year.

Institutional Trading of James Hardie Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC raised its position in James Hardie Industries by 186.0% in the 1st quarter. Jennison Associates LLC now owns 335,239 shares of the construction company’s stock worth $13,564,000 after purchasing an additional 218,033 shares during the period. Allspring Global Investments Holdings LLC bought a new position in James Hardie Industries in the 1st quarter worth about $71,000. Blue Trust Inc. grew its stake in James Hardie Industries by 55.7% in the 2nd quarter. Blue Trust Inc. now owns 1,045 shares of the construction company’s stock worth $33,000 after acquiring an additional 374 shares in the last quarter. Acadian Asset Management LLC grew its stake in James Hardie Industries by 39.7% in the 1st quarter. Acadian Asset Management LLC now owns 313,931 shares of the construction company’s stock worth $12,697,000 after acquiring an additional 89,165 shares in the last quarter. Finally, Syon Capital LLC grew its stake in James Hardie Industries by 40.2% in the 4th quarter. Syon Capital LLC now owns 10,993 shares of the construction company’s stock worth $425,000 after acquiring an additional 3,154 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.