Eagle Materials Inc. (NYSE:EXP) was upgraded by stock analysts at CL King from a “neutral” rating to a “buy” rating in a report issued on Tuesday.
A number of other brokerages have also issued reports on EXP. DA Davidson lowered their price target on shares of Eagle Materials from $100.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday, July 26th. Zacks Investment Research lowered shares of Eagle Materials from a “strong-buy” rating to a “hold” rating in a report on Monday, July 25th. Finally, Standpoint Research lowered shares of Eagle Materials from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $84.13.
Shares of Eagle Materials (NYSE:EXP) opened at 77.20 on Tuesday. The firm’s 50 day moving average is $78.75 and its 200-day moving average is $77.36. The company has a market capitalization of $3.72 billion, a P/E ratio of 23.92 and a beta of 1.47. Eagle Materials has a 52-week low of $45.03 and a 52-week high of $87.57.
Eagle Materials (NYSE:EXP) last announced its earnings results on Monday, July 25th. The company reported $0.93 earnings per share (EPS) for the quarter, topping 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 business had revenue of $297 million for the quarter, compared to analyst estimates of $295.49 million. During the same quarter in the previous year, the firm posted $0.75 earnings per share. Eagle Materials’s revenue was up 4.4% compared to the same quarter last year. Equities research analysts anticipate that Eagle Materials will post $4.34 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Wednesday, October 5th. Eagle Materials’s payout ratio is 12.35%.
In related news, EVP Robert S. Stewart sold 12,098 shares of the company’s stock in a transaction dated 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 owns 66,779 shares in the company, valued at approximately $5,681,557.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director F William Barnett sold 16,221 shares of the company’s stock in a transaction dated 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 owns 7,519 shares in the company, valued at approximately $644,904.63. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC increased its position in shares of 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 bought a new position in shares of Eagle Materials during the second quarter valued at about $201,000. Independent Portfolio Consultants Inc. bought a new position in shares of Eagle Materials during the third quarter valued at about $204,000. 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 period. Finally, Advisor Group Inc. bought a new position in shares of Eagle Materials during the second quarter valued at about $216,000. Institutional investors and hedge funds own 91.67% of the company’s stock.
Eagle Materials Company Profile
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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