Zacks Investment Research upgraded shares of Eagle Materials (NYSE:EXP) from a sell rating to a hold rating in a research note released on Monday morning.
According to Zacks, “Eagle Materials Inc. manufactures and distributes Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants from more than 75 facilities across the US. The Company’s Cement and Concrete and Aggregates segments participate in the construction products sector; Gypsum Wallboard and Recycled Paperboard segments participate in the building materials sector; and Oil and Gas Proppants segment participates in the oil and gas exploration sector. Eagle Materials manufactures and distributes concrete and aggregates products that are used in highway construction and maintenance and to construct residential and commercial buildings. Eagle operates aggregates quarries and concrete plants in central Texas, northern California, Kansas and Missouri. Eagle Materials is committed to building a low delivered-cost Northern white sand supply system for the energy sector. “
A number of other research firms also recently issued reports on EXP. Citigroup lifted their target price on Eagle Materials from $121.00 to $140.00 and gave the company a buy rating in a research report on Thursday, January 25th. Stifel Nicolaus lowered their target price on Eagle Materials from $135.00 to $130.00 and set a buy rating on the stock in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $135.00.
Eagle Materials (NYSE:EXP) last released its earnings results on Wednesday, January 31st. The construction company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.20. The business had revenue of $359.40 million for the quarter, compared to the consensus estimate of $364.52 million. Eagle Materials had a return on equity of 18.66% and a net margin of 18.53%. Eagle Materials’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.17 earnings per share. sell-side analysts anticipate that Eagle Materials will post 5.3 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 11th. Investors of record on Thursday, April 12th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Wednesday, April 11th. Eagle Materials’s dividend payout ratio is currently 7.60%.
In related news, EVP Robert S. Stewart sold 29,892 shares of Eagle Materials stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $111.77, for a total value of $3,341,028.84. Following the sale, the executive vice president now owns 34,323 shares of the company’s stock, valued at $3,836,281.71. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Michael Haack sold 6,731 shares of Eagle Materials stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $115.00, for a total value of $774,065.00. Following the completion of the sale, the chief operating officer now directly owns 28,136 shares in the company, valued at approximately $3,235,640. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,623 shares of company stock worth $6,930,994. 4.10% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its position in Eagle Materials by 474.5% during the second quarter. Tower Research Capital LLC TRC now owns 1,149 shares of the construction company’s stock worth $106,000 after buying an additional 949 shares during the last quarter. Cigna Investments Inc. New acquired a new position in Eagle Materials during the fourth quarter worth approximately $205,000. Emerald Mutual Fund Advisers Trust acquired a new position in Eagle Materials during the third quarter worth approximately $201,000. Ingalls & Snyder LLC acquired a new position in Eagle Materials during the fourth quarter worth approximately $234,000. Finally, HM Payson & Co. acquired a new position in Eagle Materials during the third quarter worth approximately $225,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.
Eagle Materials Company Profile
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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