Eagle Materials Inc. (EXP) Reaches New 52-Week High at $87.57
Eagle Materials Inc. (NYSE:EXP) 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. The stock had previously closed at $85.90.
A number of research analysts have issued reports on EXP shares. Zacks Investment Research raised Eagle Materials from a “sell” rating to a “hold” rating in a report on Wednesday, March 30th. Citigroup Inc. lifted their price objective on Eagle Materials from $72.00 to $83.00 and gave the company a “buy” rating in a report on Monday, April 18th. TheStreet raised Eagle Materials from a “hold” rating to a “buy” rating in a report on Friday, April 15th. Sterne Agee CRT reissued a “buy” rating on shares of Eagle Materials in a report on Monday, May 16th. Finally, Standpoint Research cut Eagle Materials from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Eagle Materials has an average rating of “Buy” and a consensus target price of $83.13.
The firm has a market capitalization of $4.13 billion and a price-to-earnings ratio of 28.02. The stock’s 50-day moving average price is $79.40 and its 200-day moving average price is $69.12.
Eagle Materials (NYSE:EXP) last issued its quarterly earnings data on Monday, July 25th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.07. During the same period in the prior year, the company earned $0.75 earnings per share. The firm earned $297 million during the quarter, compared to analyst estimates of $295.49 million. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities analysts predict that Eagle Materials Inc. will post $4.35 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 22nd. Shareholders of record on Monday, June 20th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Thursday, June 16th.
In other Eagle Materials news, CFO Dale Craig Kesler sold 32,184 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 95,620 shares of the company’s stock, valued at approximately $7,616,133. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard Ross Stewart sold 10,888 shares of the company’s stock in a transaction 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 transaction, 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.
A number of hedge funds and institutional investors have recently modified their holdings of EXP. Wells Fargo & Company MN raised its position in shares of Eagle Materials by 51.5% in the fourth quarter. Wells Fargo & Company MN now owns 1,453,575 shares of the company’s stock worth $87,839,000 after buying an additional 493,939 shares in the last quarter. Liberty Mutual Group Asset Management Inc. raised 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 in the last quarter. Russell Frank Co raised 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 in the last quarter. J. Goldman & Co LP purchased a new position in shares of Eagle Materials during the fourth quarter worth approximately $3,538,000. Finally, Employees Retirement System of Texas raised its position in shares of Eagle Materials by 45.9% in the fourth quarter. Employees Retirement System of Texas now owns 178,000 shares of the company’s stock worth $10,757,000 after buying an additional 56,000 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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