Eagle Materials Inc (EXP) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Eagle Materials Inc (NYSE:EXP) from a sell rating to a hold rating in a report published on Wednesday.
According to Zacks, “Eagle Materials Inc. is a Dallas-based company that manufactures and distributes Cement, Gypsum Wallboard, Recycled Paperboard and Concrete and Aggregates. “
A number of other equities research analysts have also commented on the stock. BidaskClub raised shares of Eagle Materials from a strong sell rating to a sell rating in a report on Saturday, August 5th. Standpoint Research raised shares of Eagle Materials from a hold rating to a buy rating in a report on Monday, July 31st. Citigroup Inc. raised shares of Eagle Materials from a neutral rating to a buy rating and decreased their price objective for the stock from $115.00 to $110.00 in a report on Monday, July 31st. Finally, Stephens raised shares of Eagle Materials from an equal weight rating to an overweight rating in a report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $107.00.
Eagle Materials (NYSE:EXP) traded down 0.72% during mid-day trading on Wednesday, hitting $106.70. 448,468 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $94.50 and a 200 day moving average of $95.51. The stock has a market capitalization of $5.17 billion, a P/E ratio of 24.81 and a beta of 1.18. Eagle Materials has a 52 week low of $73.83 and a 52 week high of $110.64.
Eagle Materials (NYSE:EXP) last issued its quarterly earnings data on Thursday, July 27th. The construction company reported $1.17 EPS for the quarter, hitting analysts’ consensus estimates of $1.17. Eagle Materials had a net margin of 16.23% and a return on equity of 18.29%. The firm had revenue of $366.10 million for the quarter, compared to analyst estimates of $369.68 million. During the same quarter in the prior year, the firm earned $0.93 EPS. The company’s revenue was up 23.1% on a year-over-year basis. Equities analysts forecast that Eagle Materials will post $5.39 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 7th. Stockholders of record on Friday, October 6th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Thursday, October 5th. Eagle Materials’s dividend payout ratio (DPR) is presently 9.30%.
In other news, insider Gerald J. Essl sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $93.40, for a total value of $186,800.00. Following the transaction, the insider now owns 39,859 shares of the company’s stock, valued at approximately $3,722,830.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dale Craig Kesler sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $101.40, for a total transaction of $507,000.00. Following the completion of the transaction, the chief financial officer now directly owns 61,778 shares in the company, valued at approximately $6,264,289.20. The disclosure for this sale can be found here. Insiders sold a total of 69,774 shares of company stock worth $6,798,741 in the last ninety days. Insiders own 4.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can boosted its stake in shares of Eagle Materials by 0.3% in the 2nd quarter. Bank of Montreal Can now owns 6,304 shares of the construction company’s stock valued at $583,000 after purchasing an additional 17 shares during the last quarter. Greenwood Capital Associates LLC boosted its stake in shares of Eagle Materials by 1.0% in the 2nd quarter. Greenwood Capital Associates LLC now owns 2,456 shares of the construction company’s stock valued at $227,000 after purchasing an additional 25 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Eagle Materials by 0.4% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 8,343 shares of the construction company’s stock valued at $810,000 after purchasing an additional 33 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Eagle Materials by 1.6% in the 1st quarter. Teacher Retirement System of Texas now owns 3,803 shares of the construction company’s stock valued at $369,000 after purchasing an additional 61 shares during the last quarter. Finally, World Asset Management Inc boosted its stake in shares of Eagle Materials by 2.7% in the 2nd quarter. World Asset Management Inc now owns 3,480 shares of the construction company’s stock valued at $322,000 after purchasing an additional 90 shares during the last quarter. 90.94% of the stock is currently owned by 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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