James Hardie Industries plc (NYSE:JHX) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 69,000 shares, a drop of 19.1% from the August 15th total of 85,300 shares. Based on an average daily volume of 34,600 shares, the days-to-cover ratio is currently 2.0 days.
Several institutional investors and hedge funds have recently added to or reduced their stakes in JHX. Parallel Advisors LLC grew its position in shares of James Hardie Industries by 10.3% during the second quarter. Parallel Advisors LLC now owns 3,063 shares of the construction company’s stock worth $105,000 after purchasing an additional 285 shares in the last quarter. WealthStone Inc. boosted its position in shares of James Hardie Industries by 2.8% during the first quarter. WealthStone Inc. now owns 13,465 shares of the construction company’s stock worth $411,000 after acquiring an additional 362 shares during the last quarter. Bank of Montreal Can grew its stake in James Hardie Industries by 6.5% during the first quarter. Bank of Montreal Can now owns 7,012 shares of the construction company’s stock valued at $226,000 after acquiring an additional 425 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of James Hardie Industries by 30.5% during the second quarter. JPMorgan Chase & Co. now owns 2,000 shares of the construction company’s stock valued at $68,000 after purchasing an additional 468 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in shares of James Hardie Industries by 93.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 1,295 shares of the construction company’s stock worth $40,000 after purchasing an additional 624 shares during the last quarter. Institutional investors own 1.12% of the company’s stock.
Shares of James Hardie Industries stock opened at $38.50 on Wednesday. James Hardie Industries has a 1-year low of $21.86 and a 1-year high of $41.04. The company’s fifty day simple moving average is $37.08 and its 200-day simple moving average is $34.26. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.42 and a quick ratio of 1.05. The stock has a market capitalization of $17.14 billion, a PE ratio of 45.83 and a beta of 1.28.
A number of brokerages have weighed in on JHX. TheStreet upgraded shares of James Hardie Industries from a “c+” rating to an “a-” rating in a research note on Thursday, June 10th. Citigroup raised James Hardie Industries from a “neutral” rating to a “buy” rating in a report on Wednesday, August 11th. Finally, Zacks Investment Research upgraded James Hardie Industries from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research note on Thursday, August 12th.
James Hardie Industries Company Profile
James Hardie Industries Plc engages in the manufacture of fiber cement siding and backer board. It operates through the following segments: North America Fiber Cement, Asia Pacific Fiber Cement, Europe Building Products, and Research & Development. The North America Fiber Cement segment manufactures fiber cement interior linings, exterior siding products and related accessories in the United States.
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