Zacks Investment Research Downgrades Eagle Materials Inc (EXP) to Hold
Eagle Materials Inc (NYSE:EXP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, May 19th.
According to Zacks, “Eagle Materials Inc. is a Dallas-based company that manufactures and distributes Cement, Gypsum Wallboard, Recycled Paperboard and Concrete and Aggregates. “
Shares of Eagle Materials (NYSE:EXP) traded down 0.01% on Friday, hitting $93.65. The company had a trading volume of 588,611 shares. The company has a market capitalization of $4.55 billion, a P/E ratio of 22.84 and a beta of 1.29. Eagle Materials has a 12-month low of $71.24 and a 12-month high of $110.64. The firm has a 50-day moving average price of $97.38 and a 200 day moving average price of $99.54.
Eagle Materials (NYSE:EXP) last issued its quarterly earnings data on Thursday, May 18th. The construction company reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.03. Eagle Materials had a return on equity of 18.07% and a net margin of 16.36%. The company had revenue of $278.60 million for the quarter, compared to the consensus estimate of $271.18 million. During the same quarter last year, the business posted $0.80 earnings per share. The firm’s revenue was up 10.5% compared to the same quarter last year. Equities analysts expect that Eagle Materials will post $5.40 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 21st. Shareholders of record on Wednesday, June 21st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, June 19th. This represents a $0.40 dividend on an annualized basis and a yield of 0.43%. Eagle Materials’s payout ratio is 9.76%.
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In other news, EVP James H. Graass sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $101.00, for a total transaction of $1,010,000.00. Following the transaction, the executive vice president now directly owns 69,653 shares of the company’s stock, valued at $7,034,953. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David B. Powers sold 11,000 shares of the firm’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $99.03, for a total value of $1,089,330.00. Following the transaction, the chief executive officer now directly owns 73,400 shares in the company, valued at $7,268,802. The disclosure for this sale can be found here. Company insiders own 5.50% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its stake in Eagle Materials by 43.0% in the fourth quarter. FMR LLC now owns 4,717,092 shares of the construction company’s stock valued at $464,775,000 after buying an additional 1,418,693 shares during the last quarter. Rainier Investment Management LLC raised its position in Eagle Materials by 5.1% in the third quarter. Rainier Investment Management LLC now owns 262,620 shares of the construction company’s stock valued at $20,301,000 after buying an additional 12,770 shares during the last quarter. RWC Asset Management LLP raised its position in Eagle Materials by 53.6% in the third quarter. RWC Asset Management LLP now owns 115,182 shares of the construction company’s stock valued at $8,904,000 after buying an additional 40,202 shares during the last quarter. Mik Capital LLC raised its position in Eagle Materials by 6.2% in the third quarter. Mik Capital LLC now owns 22,147 shares of the construction company’s stock valued at $1,712,000 after buying an additional 1,297 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of Eagle Materials during the fourth quarter worth $3,253,000. 93.76% of the stock is currently owned by institutional investors and hedge funds.
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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