Eagle Materials Inc. (NYSE:EXP) Sees Significant Growth in Short Interest

Eagle Materials Inc. (NYSE:EXP) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 1,390,000 shares, an increase of 43.0% from the February 28th total of 971,700 shares. Based on an average trading volume of 354,800 shares, the days-to-cover ratio is presently 3.9 days. Currently, 4.2% of the company’s shares are short sold.

Insider Activity

In related news, Director Michael R. Nicolais bought 310 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were acquired at an average cost of $257.36 per share, with a total value of $79,781.60. Following the completion of the transaction, the director now owns 3,655 shares of the company’s stock, valued at approximately $940,650.80. The trade was a 9.27 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Eagle Materials

A number of institutional investors have recently made changes to their positions in the business. Private Trust Co. NA increased its stake in shares of Eagle Materials by 53.0% in the fourth quarter. Private Trust Co. NA now owns 205 shares of the construction company’s stock worth $51,000 after buying an additional 71 shares during the last quarter. Huntington National Bank increased its position in shares of Eagle Materials by 154.8% in the 4th quarter. Huntington National Bank now owns 237 shares of the construction company’s stock worth $58,000 after purchasing an additional 144 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Eagle Materials in the 4th quarter valued at about $81,000. LGT Financial Advisors LLC lifted its position in shares of Eagle Materials by 233.1% during the fourth quarter. LGT Financial Advisors LLC now owns 443 shares of the construction company’s stock worth $109,000 after purchasing an additional 310 shares during the last quarter. Finally, Transce3nd LLC bought a new position in shares of Eagle Materials during the fourth quarter worth about $125,000. 96.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EXP. Jefferies Financial Group cut shares of Eagle Materials from a “buy” rating to a “hold” rating and lowered their price objective for the company from $330.00 to $310.00 in a research note on Monday, December 16th. Loop Capital dropped their price target on Eagle Materials from $280.00 to $245.00 and set a “hold” rating for the company in a research note on Tuesday. Stephens reaffirmed an “overweight” rating and issued a $310.00 price objective on shares of Eagle Materials in a research note on Thursday, January 30th. Citigroup downgraded shares of Eagle Materials from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $334.00 to $280.00 in a research report on Monday, January 6th. Finally, DA Davidson cut their price target on shares of Eagle Materials from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $279.40.

Eagle Materials Stock Up 2.5 %

Shares of NYSE EXP traded up $5.49 during trading on Tuesday, reaching $227.42. 390,996 shares of the stock were exchanged, compared to its average volume of 319,174. The company has a market capitalization of $7.57 billion, a price-to-earnings ratio of 16.24 and a beta of 1.37. The business’s 50-day moving average price is $235.12 and its 200 day moving average price is $264.88. The company has a quick ratio of 1.01, a current ratio of 2.76 and a debt-to-equity ratio of 0.66. Eagle Materials has a twelve month low of $205.44 and a twelve month high of $321.93.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings data on Wednesday, January 29th. The construction company reported $3.59 EPS for the quarter, missing analysts’ consensus estimates of $3.97 by ($0.38). Eagle Materials had a return on equity of 34.14% and a net margin of 20.91%. As a group, equities analysts forecast that Eagle Materials will post 14.39 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Eagle Materials’s dividend payout ratio (DPR) is presently 7.14%.

Eagle Materials Company Profile

Eagle Materials Inc, through its subsidiaries, manufactures and sells heavy construction materials and light building materials in the United States. It operates in four segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland cement, including Portland limestone cement; grinding and sale of slag; and mining of gypsum for the manufacture and sale of gypsum wallboards used to finish the interior walls and ceilings in residential, commercial, and industrial structures, as well as well as containerboard and lightweight packaging grades; manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and mining and sale of aggregates, such as crushed stone, sand, and gravel.