Eagle Materials Inc. (EXP) Upgraded at CL King
Eagle Materials Inc. (NYSE:EXP) was upgraded by analysts at CL King from a “neutral” rating to a “buy” rating in a research report issued on Tuesday, The Fly reports.
EXP has been the subject of several other research reports. Zacks Investment Research cut Eagle Materials from a “buy” rating to a “hold” rating in a research note on Friday, July 1st. DA Davidson set a $100.00 price target on Eagle Materials and gave the company a “buy” rating in a research note on Tuesday, September 13th. Finally, Standpoint Research cut 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 issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $84.13.
Eagle Materials (NYSE:EXP) opened at 75.80 on Tuesday. Eagle Materials has a 12-month low of $45.03 and a 12-month high of $87.57. The company has a market cap of $3.66 billion, a PE ratio of 23.49 and a beta of 1.47. The stock’s 50 day moving average price is $79.13 and its 200 day moving average price is $77.31.
Eagle Materials (NYSE:EXP) last posted its earnings results on Monday, July 25th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.86 by $0.07. The firm earned $297 million during the quarter, compared to the consensus estimate of $295.49 million. Eagle Materials had a return on equity of 17.68% and a net margin of 13.85%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the company earned $0.75 earnings per share. Equities research analysts anticipate that Eagle Materials will post $4.34 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.40 annualized dividend and a yield of 0.53%. Eagle Materials’s dividend payout ratio is currently 12.35%.
In other Eagle Materials news, EVP Robert S. Stewart sold 12,098 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $85.08, for a total value of $1,029,297.84. Following the completion of the sale, the executive vice president now owns 66,779 shares of the company’s stock, valued at $5,681,557.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director F William Barnett sold 16,221 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $85.77, for a total value of $1,391,275.17. Following the completion of the sale, the director now directly owns 7,519 shares of the company’s stock, valued at approximately $644,904.63. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.
A number of large investors have recently made changes to their positions in EXP. Tower Research Capital LLC TRC boosted its stake in shares of Eagle Materials by 746.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,675 shares of the company’s stock worth $129,000 after buying an additional 1,477 shares during the period. M&T Bank Corp purchased a new stake in shares of Eagle Materials during the second quarter worth approximately $201,000. PNC Financial Services Group Inc. boosted its stake in shares of Eagle Materials by 181.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,739 shares of the company’s stock worth $212,000 after buying an additional 1,765 shares during the period. Advisor Group Inc. purchased a new stake in shares of Eagle Materials during the second quarter worth approximately $216,000. Finally, LS Investment Advisors LLC boosted its stake in shares of Eagle Materials by 70.3% in the second quarter. LS Investment Advisors LLC now owns 2,935 shares of the company’s stock worth $226,000 after buying an additional 1,212 shares during the period. 91.67% of the stock is 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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