Investors Buy Shares of Eagle Materials Inc (EXP) on Weakness
Traders bought shares of Eagle Materials Inc (NYSE:EXP) on weakness during trading hours on Tuesday. $35.64 million flowed into the stock on the tick-up and $8.32 million flowed out of the stock on the tick-down, for a money net flow of $27.32 million into the stock. Of all companies tracked, Eagle Materials had the 16th highest net in-flow for the day. Eagle Materials traded down ($0.42) for the day and closed at $107.56
Several research analysts recently issued reports on the company. Standpoint Research cut Eagle Materials from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. They noted that the move was a valuation call. BidaskClub cut Eagle Materials from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Citigroup Inc. raised Eagle Materials from a “neutral” rating to a “buy” rating and cut their target price for the company from $115.00 to $110.00 in a research report on Monday, July 31st. Finally, Zacks Investment Research cut Eagle Materials from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $110.00.
The company has a 50 day moving average price of $101.76 and a 200 day moving average price of $96.42. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 25.01 and a beta of 1.17.
Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Thursday, July 27th. The construction company reported $1.17 earnings per share for the quarter, hitting the consensus estimate of $1.17. The company had revenue of $366.10 million for the quarter, compared to the consensus estimate of $369.68 million. Eagle Materials had a return on equity of 18.29% and a net margin of 16.23%. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.93 EPS. Equities research analysts anticipate that Eagle Materials Inc will post $5.43 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 7th. Shareholders of record on Friday, October 6th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, October 5th. This represents a $0.40 annualized dividend and a yield of 0.37%. Eagle Materials’s dividend payout ratio is 9.30%.
In other Eagle Materials news, insider Gerald J. Essl sold 2,000 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $93.40, for a total transaction of $186,800.00. Following the sale, the insider now directly owns 39,859 shares in the company, valued at approximately $3,722,830.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David B. Powers sold 11,317 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $93.57, for a total value of $1,058,931.69. Following the sale, the chief executive officer now owns 106,580 shares in the company, valued at $9,972,690.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,774 shares of company stock worth $6,798,741. Company insiders own 4.10% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of EXP. Tower Research Capital LLC TRC boosted its stake in Eagle Materials by 474.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,149 shares of the construction company’s stock valued at $106,000 after purchasing an additional 949 shares during the last quarter. IFP Advisors Inc boosted its stake in Eagle Materials by 8.3% during the 2nd quarter. IFP Advisors Inc now owns 1,183 shares of the construction company’s stock valued at $109,000 after purchasing an additional 91 shares during the last quarter. Pacad Investment Ltd. boosted its stake in Eagle Materials by 116.7% during the 2nd quarter. Pacad Investment Ltd. now owns 1,300 shares of the construction company’s stock valued at $120,000 after purchasing an additional 700 shares during the last quarter. Global X Management Co. LLC boosted its stake in Eagle Materials by 220.0% during the 2nd quarter. Global X Management Co. LLC now owns 1,536 shares of the construction company’s stock valued at $142,000 after purchasing an additional 1,056 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Eagle Materials by 8.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,868 shares of the construction company’s stock valued at $173,000 after purchasing an additional 146 shares during the last quarter. Institutional investors and hedge funds own 91.02% of the company’s stock.
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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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