Short Interest in Eagle Materials Inc. (NYSE:EXP) Grows By 8.0%

Eagle Materials Inc. (NYSE:EXP) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totalling 1,210,000 shares, an increase of 8.0% from the September 30th total of 1,120,000 shares. Approximately 3.6% of the company’s shares are sold short. Based on an average daily trading volume, of 299,100 shares, the short-interest ratio is presently 4.0 days.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on EXP shares. Raymond James lowered shares of Eagle Materials from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Citigroup lifted their price target on shares of Eagle Materials from $252.00 to $311.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group lifted their price target on shares of Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Eagle Materials from $270.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Stephens lifted their price target on shares of Eagle Materials from $280.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Eagle Materials presently has a consensus rating of “Moderate Buy” and an average target price of $302.67.

Eagle Materials Price Performance

Shares of NYSE EXP opened at $285.46 on Friday. Eagle Materials has a twelve month low of $152.59 and a twelve month high of $306.36. The company has a current ratio of 2.34, a quick ratio of 1.17 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $9.57 billion, a price-to-earnings ratio of 20.16 and a beta of 1.32. The firm has a 50-day moving average of $277.46 and a two-hundred day moving average of $252.99.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Tuesday, October 29th. The construction company reported $4.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.75 by ($0.44). The company had revenue of $623.62 million for the quarter, compared to analyst estimates of $651.46 million. Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. Eagle Materials’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.28 EPS. As a group, analysts expect that Eagle Materials will post 15.45 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Tuesday, September 17th were issued a $0.25 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.35%. Eagle Materials’s dividend payout ratio is 7.06%.

Insider Buying and Selling at Eagle Materials

In other news, Director George John Damiris sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $277.62, for a total transaction of $277,620.00. Following the transaction, the director now directly owns 7,943 shares of the company’s stock, valued at approximately $2,205,135.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eagle Materials

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EXP. State of Michigan Retirement System raised its position in Eagle Materials by 1.2% during the first quarter. State of Michigan Retirement System now owns 8,429 shares of the construction company’s stock valued at $2,291,000 after acquiring an additional 100 shares in the last quarter. Mad River Investors acquired a new position in Eagle Materials during the first quarter valued at approximately $1,552,000. Van ECK Associates Corp grew its holdings in Eagle Materials by 36.5% during the first quarter. Van ECK Associates Corp now owns 14,385 shares of the construction company’s stock valued at $3,909,000 after purchasing an additional 3,848 shares during the last quarter. Quent Capital LLC grew its holdings in Eagle Materials by 163.0% during the first quarter. Quent Capital LLC now owns 426 shares of the construction company’s stock valued at $116,000 after purchasing an additional 264 shares during the last quarter. Finally, Whittier Trust Co. grew its holdings in Eagle Materials by 4.0% during the first quarter. Whittier Trust Co. now owns 57,259 shares of the construction company’s stock valued at $15,560,000 after purchasing an additional 2,213 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.

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.