Eagle Materials Inc. (NYSE:EXP) was upgraded by investment analysts at Standpoint Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday.
A number of other equities research analysts have also recently issued reports on EXP. CL King upgraded Eagle Materials from a “neutral” rating to a “buy” rating in a research note on Tuesday. DA Davidson cut their price objective 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 cut shares of Eagle Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 25th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Eagle Materials currently has a consensus rating of “Buy” and an average target price of $84.13.
Eagle Materials (NYSE:EXP) traded up 0.05% on Tuesday, reaching $75.84. 243,574 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $79.13 and its 200 day moving average is $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 has a 1-year low of $45.03 and a 1-year high of $87.57.
Eagle Materials (NYSE:EXP) last posted its earnings results on Monday, July 25th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.07. The company had revenue of $297 million for the quarter, compared to analysts’ expectations of $295.49 million. Eagle Materials had a return on equity of 17.68% and a net margin of 13.85%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the business posted $0.75 earnings per share. Analysts expect that Eagle Materials will post $4.34 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Wednesday, October 5th. Eagle Materials’s payout ratio is currently 12.35%.
In related news, Director F William Barnett sold 16,221 shares of Eagle Materials 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 directly owns 7,519 shares of the company’s stock, valued at $644,904.63. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Robert S. Stewart sold 12,098 shares of Eagle Materials stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $85.08, for a total value of $1,029,297.84. Following the transaction, the executive vice president now directly owns 66,779 shares in the company, valued at $5,681,557.32. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Eagle Materials by 1.2% in the second quarter. Vanguard Group Inc. now owns 3,422,665 shares of the company’s stock worth $264,058,000 after buying an additional 40,857 shares in the last quarter. Frontier Capital Management Co. LLC boosted its position in shares of Eagle Materials by 14.3% in the second quarter. Frontier Capital Management Co. LLC now owns 1,825,759 shares of the company’s stock worth $140,857,000 after buying an additional 227,736 shares in the last quarter. State Street Corp boosted its position in shares of 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 in the last quarter. Neuberger Berman Group LLC boosted its position in shares of Eagle Materials by 66.6% in the second quarter. Neuberger Berman Group LLC now owns 1,571,505 shares of the company’s stock worth $121,242,000 after buying an additional 627,950 shares in the last quarter. Finally, Findlay Park Partners LLP boosted its position in shares of Eagle Materials by 5.5% in the first quarter. Findlay Park Partners LLP now owns 903,875 shares of the company’s stock worth $63,371,000 after buying an additional 46,936 shares in 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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