Eagle Materials Inc. (EXP) Upgraded to “Buy” by CL King
Other equities analysts also recently issued research reports about the stock. DA Davidson set a $100.00 target price on shares of Eagle Materials and gave the stock a buy rating in a research note on Tuesday, September 13th. Zacks Investment Research upgraded shares of Eagle Materials from a hold rating to a buy rating and set a $96.00 target price for the company in a research note on Tuesday, July 26th. Finally, Standpoint Research downgraded shares of Eagle Materials from a buy rating to a hold rating in a research note on Friday, July 22nd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $84.13.
Eagle Materials (NYSE:EXP) traded up 2.37% during trading on Tuesday, reaching $77.30. 141,006 shares of the company were exchanged. The firm’s 50-day moving average is $78.91 and its 200 day moving average is $77.36. Eagle Materials has a one year low of $45.03 and a one year high of $87.57. The company has a market capitalization of $3.73 billion, a P/E ratio of 23.95 and a beta of 1.47.
Eagle Materials (NYSE:EXP) last posted its earnings results on Monday, July 25th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.07. The firm earned $297 million during the quarter, compared to the consensus estimate of $295.49 million. Eagle Materials had a net margin of 13.85% and a return on equity of 17.68%. The company’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $0.75 earnings per share. On average, analysts anticipate that Eagle Materials will post $4.34 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, October 7th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Wednesday, October 5th. Eagle Materials’s dividend payout ratio (DPR) is presently 12.35%.
In other Eagle Materials news, EVP Robert S. Stewart sold 12,098 shares of Eagle Materials stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $85.08, for a total transaction of $1,029,297.84. Following the transaction, the executive vice president now directly owns 66,779 shares of the company’s stock, valued at $5,681,557.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director F William Barnett sold 16,221 shares of Eagle Materials stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $85.77, for a total transaction of $1,391,275.17. Following the transaction, the director now directly owns 7,519 shares in the company, valued at $644,904.63. The disclosure for this sale can be found here. Company insiders own 5.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its position in Eagle Materials by 746.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,675 shares of the company’s stock valued at $129,000 after buying an additional 1,477 shares during the period. M&T Bank Corp purchased a new position in shares of Eagle Materials during the second quarter valued at approximately $201,000. PNC Financial Services Group Inc. increased its position in shares of Eagle Materials by 181.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,739 shares of the company’s stock valued at $212,000 after buying an additional 1,765 shares during the last quarter. Advisor Group Inc. purchased a new position in shares of Eagle Materials during the second quarter valued at approximately $216,000. Finally, LS Investment Advisors LLC increased its position in shares of Eagle Materials by 70.3% in the second quarter. LS Investment Advisors LLC now owns 2,935 shares of the company’s stock valued at $226,000 after buying an additional 1,212 shares during the last quarter. 91.67% of the stock is currently owned by hedge funds and other institutional investors.
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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