Eagle Materials Inc. (EXP) Shares Up 4.1%
Eagle Materials Inc. (NYSE:EXP) shares shot up 4.1% during mid-day trading on Wednesday . The stock traded as high as $84.09 and last traded at $83.32, with a volume of 894,575 shares changing hands. The stock had previously closed at $80.07.
Several brokerages have issued reports on EXP. Citigroup Inc. boosted their target price on shares of Eagle Materials from $72.00 to $83.00 and gave the company a “buy” rating in a research note on Monday, April 18th. TheStreet raised shares of Eagle Materials from a “hold” rating to a “buy” rating in a research note on Friday, April 15th. Goldman Sachs Group Inc. boosted their target price on shares of Eagle Materials from $55.00 to $65.00 in a research note on Monday, March 28th. Zacks Investment Research raised shares of Eagle Materials from a “hold” rating to a “strong-buy” rating and set a $96.00 target price on the stock in a research note on Wednesday. Finally, Sterne Agee CRT reissued a “buy” rating on shares of Eagle Materials in a research note on Monday, May 16th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $80.38.
The company’s 50-day moving average is $78.83 and its 200-day moving average is $68.38. The company has a market cap of $4.00 billion and a price-to-earnings ratio of 27.19.
Eagle Materials (NYSE:EXP) last released its quarterly earnings results on Wednesday, May 18th. The company reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.16. The company had revenue of $252.10 million for the quarter, compared to the consensus estimate of $226.21 million. Eagle Materials’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. On average, equities analysts predict that Eagle Materials Inc. will post $4.34 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 22nd. Stockholders of record on Monday, June 20th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, June 16th. This represents a $0.40 annualized dividend and a dividend yield of 0.48%.
In other news, CFO Dale Craig Kesler sold 32,184 shares of the stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $79.65, for a total transaction of $2,563,455.60. Following the sale, the chief financial officer now directly owns 95,620 shares of the company’s stock, valued at $7,616,133. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Ross Stewart sold 10,888 shares of the stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $72.84, for a total transaction of $793,081.92. Following the sale, the director now directly owns 5,874 shares in the company, valued at $427,862.16. The disclosure for this sale can be found here.
Other hedge funds recently added to or reduced their stakes in the company. Airain ltd bought a new stake in Eagle Materials during the fourth quarter valued at approximately $1,113,000. Whittier Trust Co. boosted its position in shares of Eagle Materials by 1.0% in the fourth quarter. Whittier Trust Co. now owns 21,230 shares of the company’s stock worth $1,283,000 after buying an additional 220 shares during the last quarter. Trexquant Investment LP boosted its position in shares of Eagle Materials by 120.4% in the fourth quarter. Trexquant Investment LP now owns 21,732 shares of the company’s stock worth $1,313,000 after buying an additional 11,872 shares during the last quarter. Liberty Mutual Group Asset Management Inc. boosted its position in shares of Eagle Materials by 51.3% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 32,477 shares of the company’s stock worth $1,961,000 after buying an additional 11,017 shares during the last quarter. Finally, Russell Frank Co boosted its position in shares of Eagle Materials by 89.7% in the fourth quarter. Russell Frank Co now owns 52,197 shares of the company’s stock worth $3,137,000 after buying an additional 24,682 shares during the last quarter.
Eagle Materials Inc manufactures and distributes gypsum wallboard and also manufactures and sells cement. Gypsum wallboard is distributed throughout the United States, in the geographic markets nearest to its production facilities. The Company sells cement in six regional markets, including northern Nevada and California, the greater Chicago area, the Rocky Mountain region, the Central Plains region and Texas.
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