In today’s daily we have covered stock research on James Hardie. To view Mining Stocks That Pay Dividends and Dividend Calendar, please click on the link.

S&P 500 was up by 20.22 points or 1.09% to 1872.18 on Wednesday. U.S. stocks rose, with technology shares gaining the most in two months, as minutes from the Federal Reserve’s last meeting eased concern about the timing of future interest-rate increases.

The advance was led by the Nasdaq and biotechnology stocks, as the Nasdaq Biotechnology Index tacked on 4.1%. The dollar’s value against a weighted basket of currencies was down 0.3 per cent, as the euro climbed 0.4 per cent to $1.3853. However, the US currency edged higher versus the yen. Gold reversed an early fall to stand $3 higher at $1,311 an ounce.


S&P 500 Daily Chart   (Source – Thomson Reuters)
 
S&P ASX 200was up 53.2 points or 0.98% and closed at 5463.80 points on Wednesday. ExxonMobil hopes to have its $US19 billion ($20.4 billion) liquefied natural gas project in Papua New Guinea running at full capacity four months after its “mid-2014” start-up date.

Agricultural, chemical and biotechnology behemoth Monsanto says opposition to genetically modified crops in Australia is undermining farm productivity and threatening the nation’s ability to feed the world and capture billions of dollars worth of agricultural exports. Kerry Stokes’s Seven West Media expressed an interest the sale of the United Kingdom’s Channel 5 but has not lodged a bid for the ­free-to-air broadcaster.


S&P ASX 200 Daily Chart (Source – Thomson Reuters)


The top gainers on ASX 200 were:-
 

Code	Name	Price	Change	%Change
DJS	David Jones	$3.91	$0.72	22.57%
WOR	Worley Parsons	$16.55	$1.07	6.91%
BDR	Beadell Resources	$0.625	$0.035	5.93%
WSA	Western Areas Limited	$ 3.67	$0.20	5.76%
SIR	Sirius Resources	$2.44	$0.12	5.17%

 
Mining Stocks That Pay Dividends

Dividend Calendar

 
Stock of the Day – James Hardie (JHX)

James Hardie is the world leader in fibre cement products and accounts for more than 80% of all fibre cement building materials sold din the US. It has 10 manufacturing plants in nine states. Fibre cement competes with vinyl, wood and engineered wood products with superior durability, moisture, fire and termite resistant qualities.

James Hardie announced a third quarter fiscal 2013 net profit after tax or NPAT of
USD 43.7 million, a 64% increase on the prior year. The result was solid, assisted by improving U.S housing conditions. Sales of USD 353.2 million were up 10% and earnings before interest and tax, EBIT of USD 55.2 million were 59% higher.


Source - JHX

The outlook remains supportive of further U.S volume growth and margin expansion. Management has guided to 2014 NPAT of USD 190 to USD 200 million.
  

 JHX Daily Chart  (Source - Thomson Reuters)
 
We believe that investors are attracted to Hardie’s US exposure and leading market position and are focusing on 2015/16 earnings level to justify current multiples. We are less optimistic on the speed of the housing recovery, with higher mortgage rates, unemployment and poor consumer confidence likely to see new housing starts and repair and remodel activity disappoint. We believe the stock is overvalued at its current price and would review the stock at a later date.
 

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