Eagle Materials, Inc. (NYSE:EXP) Sees Large Drop in Short Interest

Eagle Materials, Inc. (NYSE:EXP) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 1,840,000 shares, a drop of 6.1% from the December 15th total of 1,960,000 shares. Based on an average trading volume of 330,600 shares, the short-interest ratio is currently 5.6 days. Currently, 4.5% of the shares of the company are sold short.

In related news, Director David B. Powers sold 20,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $93.11, for a total value of $1,862,200.00. Following the completion of the transaction, the director now owns 69,454 shares in the company, valued at approximately $6,466,861.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Keith W. Metcalf sold 7,500 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $92.00, for a total value of $690,000.00. Following the completion of the transaction, the insider now owns 43,339 shares of the company’s stock, valued at approximately $3,987,188. The disclosure for this sale can be found here. Insiders sold a total of 37,032 shares of company stock valued at $3,457,740 in the last 90 days. 2.20% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in EXP. First Trust Advisors LP raised its position in shares of Eagle Materials by 8.6% during the 1st quarter. First Trust Advisors LP now owns 57,097 shares of the construction company’s stock valued at $4,813,000 after buying an additional 4,501 shares during the period. Amundi Pioneer Asset Management Inc. raised its position in shares of Eagle Materials by 4,574.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 72,872 shares of the construction company’s stock valued at $6,143,000 after buying an additional 71,313 shares during the period. Russell Investments Group Ltd. raised its position in shares of Eagle Materials by 7.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 13,321 shares of the construction company’s stock valued at $1,235,000 after buying an additional 946 shares during the period. LPL Financial LLC raised its position in shares of Eagle Materials by 14.0% during the 2nd quarter. LPL Financial LLC now owns 2,820 shares of the construction company’s stock valued at $261,000 after buying an additional 346 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in shares of Eagle Materials by 9.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 77,732 shares of the construction company’s stock valued at $7,206,000 after buying an additional 6,580 shares during the period. 97.06% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Eagle Materials stock traded up $0.59 on Thursday, hitting $91.74. 3,549 shares of the company were exchanged, compared to its average volume of 237,540. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 1.38 and a beta of 1.27. The company has a 50-day moving average price of $90.96 and a 200 day moving average price of $88.94. Eagle Materials has a 1-year low of $63.53 and a 1-year high of $97.10. The company has a quick ratio of 1.26, a current ratio of 2.50 and a debt-to-equity ratio of 0.98.

Eagle Materials (NYSE:EXP) last issued its earnings results on Thursday, October 31st. The construction company reported $1.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.18. The business had revenue of $414.50 million for the quarter, compared to analysts’ expectations of $380.38 million. Eagle Materials had a return on equity of 18.87% and a net margin of 3.07%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.53 EPS. Research analysts forecast that Eagle Materials will post 5.41 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, December 9th. Eagle Materials’s dividend payout ratio is currently 7.92%.

A number of equities analysts recently issued reports on the company. ValuEngine lowered Eagle Materials from a “sell” rating to a “strong sell” rating in a research note on Friday, January 3rd. Exane BNP Paribas assumed coverage on Eagle Materials in a research report on Wednesday, October 9th. They set an “outperform” rating and a $112.00 target price on the stock. BNP Paribas began coverage on Eagle Materials in a research report on Wednesday, October 9th. They set an “outperform” rating on the stock. SunTrust Banks lifted their price objective on Eagle Materials from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Friday, November 29th. They noted that the move was a valuation call. Finally, Loop Capital began coverage on Eagle Materials in a report on Thursday, December 19th. They issued a “hold” rating and a $99.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $97.38.

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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