Eagle Materials, Inc. (NYSE:EXP) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 2,732,300 shares, an increase of 13.5% from the July 31st total of 2,407,500 shares. Based on an average daily volume of 520,700 shares, the days-to-cover ratio is currently 5.2 days. Currently, 6.6% of the company’s shares are short sold.

In other Eagle Materials news, insider Keith W. Metcalf sold 10,980 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $81.33, for a total value of $893,003.40. Following the sale, the insider now directly owns 58,087 shares in the company, valued at $4,724,215.71. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David B. Powers sold 20,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $85.00, for a total value of $1,700,000.00. Following the sale, the director now owns 86,840 shares in the company, valued at $7,381,400. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,452 shares of company stock valued at $3,704,207. 2.20% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of EXP. Dimensional Fund Advisors LP increased its position in shares of Eagle Materials by 6.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 498,229 shares of the construction company’s stock worth $30,407,000 after purchasing an additional 31,233 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Eagle Materials by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 443,238 shares of the construction company’s stock worth $27,050,000 after purchasing an additional 20,184 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Eagle Materials by 21.8% during the first quarter. Janus Henderson Group PLC now owns 6,535 shares of the construction company’s stock worth $551,000 after purchasing an additional 1,168 shares in the last quarter. Texas Permanent School Fund increased its position in shares of Eagle Materials by 1.6% during the first quarter. Texas Permanent School Fund now owns 31,165 shares of the construction company’s stock worth $2,627,000 after purchasing an additional 481 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Eagle Materials by 0.5% during the first quarter. California Public Employees Retirement System now owns 118,740 shares of the construction company’s stock worth $10,010,000 after purchasing an additional 545 shares in the last quarter. 97.87% of the stock is owned by institutional investors.

NYSE:EXP traded up $0.40 during trading hours on Friday, reaching $87.13. The company’s stock had a trading volume of 11,460 shares, compared to its average volume of 429,339. The company has a market capitalization of $3.66 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 1.67 and a beta of 1.23. Eagle Materials has a 12 month low of $57.00 and a 12 month high of $93.18. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.05 and a current ratio of 2.42. The stock has a 50 day moving average price of $83.96 and a two-hundred day moving average price of $84.87.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.27). The business had revenue of $370.60 million during the quarter, compared to the consensus estimate of $376.95 million. Eagle Materials had a return on equity of 17.21% and a net margin of 3.20%. The business’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period last year, the firm earned $1.38 EPS. As a group, analysts predict that Eagle Materials will post 5.23 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Thursday, October 3rd. Eagle Materials’s dividend payout ratio (DPR) is 7.92%.

Several research analysts have recently issued reports on the company. Northcoast Research lowered Eagle Materials from a “neutral” rating to a “sell” rating and set a $76.00 target price for the company. in a research report on Monday, July 1st. Raymond James downgraded Eagle Materials from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 31st. Citigroup raised their price target on Eagle Materials from $101.00 to $105.00 and gave the company a “buy” rating in a report on Friday, May 17th. JPMorgan Chase & Co. reduced their target price on Eagle Materials from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Finally, Stifel Nicolaus set a $101.00 target price on Eagle Materials and gave the company a “buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $93.88.

Eagle Materials Company Profile

Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials, light building materials, and materials used for oil and natural gas extraction in the United States. It operates in five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants.

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