Eagle Materials Inc. (EXP) Hits New 52-Week High at $87.57
Eagle Materials Inc. (NYSE:EXP) shares reached a new 52-week high on Wednesday . The company traded as high as $87.57 and last traded at $85.35, with a volume of 316,095 shares trading hands. The stock had previously closed at $85.90.
A number of research firms recently weighed in on EXP. Zacks Investment Research cut shares of Eagle Materials from a “buy” rating to a “hold” rating in a research note on Tuesday, July 19th. Sterne Agee CRT restated a “buy” rating on shares of Eagle Materials in a research note on Monday, May 16th. Citigroup Inc. lifted 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. DA Davidson decreased their price target on shares of Eagle Materials from $100.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Standpoint Research cut shares of Eagle Materials from a “buy” rating to a “hold” rating in a research note on Friday, July 22nd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $83.13.
The firm has a market cap of $4.05 billion and a PE ratio of 25.9197. The firm has a 50 day moving average price of $79.58 and a 200-day moving average price of $69.35.
Eagle Materials (NYSE:EXP) last released its quarterly earnings data on Monday, July 25th. The company reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.07. The business earned $297 million during the quarter, compared to analyst estimates of $295.49 million. During the same quarter in the previous year, the company earned $0.75 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. Analysts anticipate that Eagle Materials Inc. will post $4.35 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 22nd. Stockholders of record on Monday, June 20th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, June 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.47%.
In related news, CFO Dale Craig Kesler sold 32,184 shares of the firm’s stock in a transaction 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 owns 95,620 shares in the company, valued at $7,616,133. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard Ross Stewart sold 10,888 shares of the firm’s stock in a transaction 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 owns 5,874 shares in the company, valued at approximately $427,862.16. The disclosure for this sale can be found here.
Other hedge funds have recently added to or reduced their stakes in the company. Airain ltd purchased a new stake in Eagle Materials during the fourth quarter valued at approximately $1,113,000. Whittier Trust Co. raised its stake in Eagle Materials by 1.0% in the fourth quarter. Whittier Trust Co. now owns 21,230 shares of the company’s stock valued at $1,283,000 after buying an additional 220 shares in the last quarter. Trexquant Investment LP raised its stake in Eagle Materials by 120.4% in the fourth quarter. Trexquant Investment LP now owns 21,732 shares of the company’s stock valued at $1,313,000 after buying an additional 11,872 shares in the last quarter. Liberty Mutual Group Asset Management Inc. raised its stake in 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 valued at $1,961,000 after buying an additional 11,017 shares in the last quarter. Finally, Russell Frank Co raised its stake in Eagle Materials by 89.7% in the fourth quarter. Russell Frank Co now owns 52,197 shares of the company’s stock valued at $3,137,000 after buying an additional 24,682 shares in 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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