Eagle Materials Inc. (EXP) Upgraded to Buy by Standpoint Research
Eagle Materials Inc. (NYSE:EXP) was upgraded by Standpoint Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday.
A number of other equities research analysts have also recently commented on EXP. CL King raised shares of Eagle Materials from a “neutral” rating to a “buy” rating in a research note on Tuesday. DA Davidson decreased their price target on shares of Eagle Materials from $100.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, July 26th. Finally, Zacks Investment Research downgraded shares of Eagle Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 25th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Eagle Materials currently has an average rating of “Buy” and a consensus price target of $84.13.
Shares of Eagle Materials (NYSE:EXP) traded up 0.05% during midday trading on Tuesday, hitting $75.84. 243,574 shares of the company traded hands. Eagle Materials has a 52 week low of $45.03 and a 52 week high of $87.57. The company has a 50-day moving average price of $79.13 and a 200-day moving average price of $77.31. The stock has a market capitalization of $3.66 billion, a P/E ratio of 23.50 and a beta of 1.47.
Eagle Materials (NYSE:EXP) last posted its earnings results on Monday, July 25th. The company reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.07. Eagle Materials had a net margin of 13.85% and a return on equity of 17.68%. The company earned $297 million during the quarter, compared to analysts’ expectations of $295.49 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. Eagle Materials’s revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts anticipate that Eagle Materials will post $4.34 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.53%. Eagle Materials’s dividend payout ratio is currently 12.35%.
In related news, EVP Robert S. Stewart sold 12,098 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $85.08, for a total value of $1,029,297.84. Following the completion of the sale, the executive vice president now owns 66,779 shares in the company, valued at approximately $5,681,557.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director F William Barnett sold 16,221 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $85.77, for a total transaction of $1,391,275.17. Following the completion of the sale, the director now owns 7,519 shares of the company’s stock, valued at approximately $644,904.63. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in EXP. Prudential PLC purchased a new position in shares of Eagle Materials during the first quarter valued at about $3,942,000. Geode Capital Management LLC boosted its position in Eagle Materials by 10.6% in the first quarter. Geode Capital Management LLC now owns 310,633 shares of the company’s stock worth $21,778,000 after buying an additional 29,791 shares during the period. Nicholas Investment Partners LP bought a new position in Eagle Materials during the first quarter worth $2,900,000. Global Alpha Capital Management Ltd. boosted its position in Eagle Materials by 66.9% in the first quarter. Global Alpha Capital Management Ltd. now owns 56,400 shares of the company’s stock worth $3,954,000 after buying an additional 22,600 shares during the period. Finally, State Street Corp boosted its position in Eagle Materials by 4.5% in the first quarter. State Street Corp now owns 1,711,658 shares of the company’s stock worth $119,993,000 after buying an additional 74,038 shares during the period. Hedge funds and other institutional investors own 91.67% of the company’s stock.
About Eagle Materials
Eagle Materials Inc is a supplier of construction products, building materials and materials used for oil and natural gas extraction. The Company operates through five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants. The Company’s construction products are used in residential, industrial, commercial and infrastructure construction, and include cement, slag, concrete and aggregates.
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