Eagle Materials Inc. (EXP) Sees Large Volume Increase
Shares of Eagle Materials Inc. (NYSE:EXP) saw strong trading volume on Friday . 794,117 shares traded hands during mid-day trading, an increase of 16% from the previous session’s volume of 683,758 shares.The stock last traded at $83.82 and had previously closed at $82.94.
Several equities research analysts have commented on the company. Citigroup Inc. boosted their target price on Eagle Materials from $72.00 to $83.00 and gave the company a “buy” rating in a research note on Monday, April 18th. TheStreet upgraded Eagle Materials from a “hold” rating to a “buy” rating in a research note on Friday, April 15th. Standpoint Research cut Eagle Materials from a “buy” rating to a “hold” rating in a research note on Friday. Goldman Sachs Group Inc. upped their price objective on Eagle Materials from $55.00 to $65.00 in a research note on Monday, March 28th. Finally, Zacks Investment Research upgraded Eagle Materials from a “hold” rating to a “strong-buy” rating and set a $96.00 price objective on the stock in a research note on Wednesday. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Eagle Materials currently has a consensus rating of “Buy” and an average price target of $80.38.
The firm has a market cap of $4.05 billion and a price-to-earnings ratio of 27.51. The firm’s 50 day moving average price is $79.01 and its 200-day moving average price is $68.54.
Eagle Materials (NYSE:EXP) last released its earnings results on Wednesday, May 18th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.64 by $0.16. The business had revenue of $252.10 million for the quarter, compared to analyst estimates of $226.21 million. During the same period in the prior year, the business earned $0.60 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities analysts expect that Eagle Materials Inc. will post $4.34 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 22nd. Investors of record on Monday, June 20th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, June 16th. This represents a $0.40 annualized dividend and a yield of 0.48%.
In other Eagle Materials news, CFO Dale Craig Kesler sold 32,184 shares of the firm’s stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $79.65, for a total value of $2,563,455.60. Following the completion of the sale, the chief financial officer now owns 95,620 shares of the company’s stock, valued at $7,616,133. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Ross Stewart sold 10,888 shares of the firm’s stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $72.84, for a total value of $793,081.92. Following the completion of the sale, the director now directly owns 5,874 shares of the company’s stock, valued at approximately $427,862.16. The disclosure for this sale can be found here.
Other large investors have recently made changes to their positions in the company. Whittier Trust Co. boosted its stake 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 period. Rhumbline Advisers boosted its stake in shares of Eagle Materials by 0.7% in the fourth quarter. Rhumbline Advisers now owns 93,665 shares of the company’s stock worth $5,660,000 after buying an additional 645 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Eagle Materials by 2.6% in the fourth quarter. New York State Common Retirement Fund now owns 137,220 shares of the company’s stock worth $8,292,000 after buying an additional 3,482 shares during the period. Liberty Mutual Group Asset Management Inc. boosted its stake 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 period. Finally, Trexquant Investment LP boosted its stake 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 period.
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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