Eagle Materials Inc. (NYSE:EXP) Short Interest Down 6.7% in September

Eagle Materials Inc. (NYSE:EXP) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 1,120,000 shares, a decrease of 6.7% from the September 15th total of 1,200,000 shares. Approximately 3.4% of the company’s stock are short sold. Based on an average daily volume of 324,000 shares, the days-to-cover ratio is currently 3.5 days.

Eagle Materials Price Performance

Shares of NYSE:EXP traded up $2.95 during trading on Thursday, hitting $303.58. 105,784 shares of the company were exchanged, compared to its average volume of 307,685. The company has a quick ratio of 1.17, a current ratio of 2.45 and a debt-to-equity ratio of 0.81. Eagle Materials has a 1-year low of $145.03 and a 1-year high of $304.98. The company has a market capitalization of $10.28 billion, a P/E ratio of 22.08 and a beta of 1.32. The business’s 50 day moving average is $267.87 and its 200-day moving average is $250.65.

Eagle Materials (NYSE:EXP) last posted its earnings results on Tuesday, July 30th. The construction company reported $3.94 EPS for the quarter, beating the consensus estimate of $3.57 by $0.37. Eagle Materials had a return on equity of 37.10% and a net margin of 21.65%. The firm had revenue of $608.69 million during the quarter, compared to the consensus estimate of $622.06 million. During the same period last year, the company earned $3.55 earnings per share. The business’s quarterly revenue was up 1.2% on a year-over-year basis. Equities analysts forecast that Eagle Materials will post 15.9 earnings per share for the current year.

Eagle Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Tuesday, September 17th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.33%. The ex-dividend date is Tuesday, September 17th. Eagle Materials’s dividend payout ratio is currently 7.34%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Jefferies Financial Group upped their price target on shares of Eagle Materials from $309.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised their target price on shares of Eagle Materials from $270.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Citigroup boosted their price target on Eagle Materials from $252.00 to $311.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Stephens raised their price objective on Eagle Materials from $280.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Raymond James cut Eagle Materials from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $297.78.

Insider Buying and Selling

In related news, CFO Dale Craig Kesler sold 5,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $266.76, for a total transaction of $1,333,800.00. Following the transaction, the chief financial officer now directly owns 60,488 shares in the company, valued at approximately $16,135,778.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Eric Cribbs sold 1,851 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $277.06, for a total value of $512,838.06. Following the transaction, the insider now owns 13,937 shares in the company, valued at approximately $3,861,385.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dale Craig Kesler sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $266.76, for a total transaction of $1,333,800.00. Following the sale, the chief financial officer now owns 60,488 shares of the company’s stock, valued at $16,135,778.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,851 shares of company stock worth $2,124,258. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EXP. Eagle Bay Advisors LLC raised its position in shares of Eagle Materials by 79.2% during the first quarter. Eagle Bay Advisors LLC now owns 95 shares of the construction company’s stock worth $26,000 after acquiring an additional 42 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of Eagle Materials in the 1st quarter worth approximately $27,000. Tompkins Financial Corp bought a new stake in shares of Eagle Materials in the 1st quarter valued at $27,000. Bessemer Group Inc. raised its stake in Eagle Materials by 132.7% during the first quarter. Bessemer Group Inc. now owns 114 shares of the construction company’s stock worth $31,000 after buying an additional 65 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Eagle Materials during the 1st quarter worth about $42,000. 96.07% of the stock is owned by institutional investors and hedge funds.

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.