Eagle Materials Inc. (NYSE:EXP) Sees Large Drop in Short Interest

Eagle Materials Inc. (NYSE:EXP – Get Rating) saw a large drop in short interest in February. As of February 15th, there was short interest totalling 805,100 shares, a drop of 5.1% from the January 31st total of 848,600 shares. Approximately 2.3% of the shares of the stock are short sold. Based on an average trading volume of 250,300 shares, the days-to-cover ratio is currently 3.2 days.

Eagle Materials Stock Performance

Eagle Materials stock opened at $145.25 on Tuesday. The company has a current ratio of 2.36, a quick ratio of 1.17 and a debt-to-equity ratio of 0.90. The firm has a 50-day moving average of $141.94 and a 200-day moving average of $129.55. The firm has a market cap of $5.24 billion, a P/E ratio of 12.55 and a beta of 1.30. Eagle Materials has a 1-year low of $101.98 and a 1-year high of $152.15.

Eagle Materials (NYSE:EXP – Get Rating) last issued its quarterly earnings data on Thursday, January 26th. The construction company reported $3.20 EPS for the quarter, topping the consensus estimate of $3.19 by $0.01. Eagle Materials had a net margin of 20.83% and a return on equity of 38.27%. The business had revenue of $511.50 million during the quarter, compared to analyst estimates of $532.95 million. During the same period last year, the business posted $2.53 earnings per share. Eagle Materials’s quarterly revenue was up 10.5% compared to the same quarter last year. Sell-side analysts expect that Eagle Materials will post 12.17 EPS for the current year.

Eagle Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Friday, March 17th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Thursday, March 16th. Eagle Materials’s dividend payout ratio (DPR) is currently 8.64%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. The Goldman Sachs Group boosted their target price on Eagle Materials from $130.00 to $149.00 and gave the company a “buy” rating in a research report on Friday, January 27th. Loop Capital boosted their target price on Eagle Materials from $135.00 to $145.00 in a research note on Wednesday, January 11th. StockNews.com upgraded Eagle Materials from a “hold” rating to a “buy” rating in a research note on Tuesday, December 20th. Raymond James boosted their target price on Eagle Materials from $140.00 to $152.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 25th. Finally, Citigroup boosted their target price on Eagle Materials from $138.00 to $168.00 in a research note on Tuesday, January 10th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $151.13.

Insider Activity at Eagle Materials

In related news, CEO Michael Haack sold 18,608 shares of the firm’s stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $144.76, for a total transaction of $2,693,694.08. Following the sale, the chief executive officer now owns 89,542 shares of the company’s stock, valued at approximately $12,962,099.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Eagle Materials news, EVP Eric Cribbs sold 1,401 shares of Eagle Materials stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $145.39, for a total transaction of $203,691.39. Following the transaction, the executive vice president now directly owns 16,039 shares of the company’s stock, valued at approximately $2,331,910.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Haack sold 18,608 shares of Eagle Materials stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $144.76, for a total value of $2,693,694.08. Following the transaction, the chief executive officer now directly owns 89,542 shares in the company, valued at $12,962,099.92. The disclosure for this sale can be found here. Insiders have sold a total of 43,992 shares of company stock valued at $6,427,728 in the last 90 days. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Eagle Materials

Institutional investors and hedge funds have recently made changes to their positions in the company. Regal Investment Advisors LLC bought a new stake in Eagle Materials in the 4th quarter worth approximately $201,000. Truist Financial Corp boosted its stake in shares of Eagle Materials by 53.6% during the 4th quarter. Truist Financial Corp now owns 44,005 shares of the construction company’s stock worth $5,846,000 after acquiring an additional 15,356 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Eagle Materials by 31.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,100 shares of the construction company’s stock worth $279,000 after acquiring an additional 500 shares during the last quarter. Point72 Middle East FZE purchased a new position in shares of Eagle Materials during the 4th quarter valued at $31,000. Finally, Chartwell Investment Partners LLC lifted its stake in shares of Eagle Materials by 16.3% during the 4th quarter. Chartwell Investment Partners LLC now owns 104,191 shares of the construction company’s stock valued at $13,842,000 after buying an additional 14,609 shares in the last quarter. Institutional investors own 93.67% of the company’s stock.

Eagle Materials Company Profile

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Eagle Materials, Inc engages in the provision of heavy construction materials and light building materials. It operates through the following segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The Cement segment deals with the manufacture, production, distribution, and sale of Portland cement.