Zacks Investment Research upgraded shares of Eagle Materials (NYSE:EXP) from a sell rating to a hold rating in a research report sent to investors on Monday, February 5th.
According to Zacks, “Eagle Materials Inc. manufactures and distributes Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants from more than 75 facilities across the US. The Company’s Cement and Concrete and Aggregates segments participate in the construction products sector; Gypsum Wallboard and Recycled Paperboard segments participate in the building materials sector; and Oil and Gas Proppants segment participates in the oil and gas exploration sector. Eagle Materials manufactures and distributes concrete and aggregates products that are used in highway construction and maintenance and to construct residential and commercial buildings. Eagle operates aggregates quarries and concrete plants in central Texas, northern California, Kansas and Missouri. Eagle Materials is committed to building a low delivered-cost Northern white sand supply system for the energy sector. “
A number of other equities analysts also recently commented on the stock. Stifel Nicolaus reduced their target price on shares of Eagle Materials from $135.00 to $130.00 and set a buy rating on the stock in a research note on Thursday, February 1st. Citigroup boosted their price target on shares of Eagle Materials from $121.00 to $140.00 and gave the company a buy rating in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $135.00.
Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Wednesday, January 31st. The construction company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. Eagle Materials had a net margin of 18.53% and a return on equity of 18.66%. The firm had revenue of $359.40 million for the quarter, compared to analyst estimates of $364.52 million. During the same period in the previous year, the business posted $1.17 earnings per share. Eagle Materials’s quarterly revenue was up 18.8% on a year-over-year basis. sell-side analysts forecast that Eagle Materials will post 5.27 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 11th. Shareholders of record on Thursday, April 12th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.38%. The ex-dividend date is Wednesday, April 11th. Eagle Materials’s dividend payout ratio (DPR) is presently 7.59%.
In related news, CFO Dale Craig Kesler sold 5,000 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $111.64, for a total value of $558,200.00. Following the completion of the sale, the chief financial officer now owns 56,778 shares in the company, valued at approximately $6,338,695.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Gerald J. Essl sold 10,000 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $113.77, for a total transaction of $1,137,700.00. Following the completion of the sale, the insider now owns 24,380 shares of the company’s stock, valued at approximately $2,773,712.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,623 shares of company stock valued at $6,930,994. Company insiders own 4.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in shares of Eagle Materials by 4.8% in the 4th quarter. BlackRock Inc. now owns 4,247,685 shares of the construction company’s stock valued at $481,262,000 after purchasing an additional 193,260 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Eagle Materials by 19.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,822,368 shares of the construction company’s stock valued at $303,320,000 after purchasing an additional 464,534 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Eagle Materials by 77.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,851,844 shares of the construction company’s stock valued at $209,813,000 after purchasing an additional 805,668 shares in the last quarter. State Street Corp increased its holdings in shares of Eagle Materials by 3.0% in the 2nd quarter. State Street Corp now owns 1,347,008 shares of the construction company’s stock valued at $124,488,000 after purchasing an additional 39,708 shares in the last quarter. Finally, Frontier Capital Management Co. LLC increased its holdings in shares of Eagle Materials by 0.8% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,260,759 shares of the construction company’s stock valued at $134,523,000 after purchasing an additional 9,512 shares in the last quarter. Institutional investors own 91.37% of the company’s stock.
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About Eagle Materials
Eagle Materials Inc is a supplier of construction products, building materials and materials used for oil and natural gas extraction. The Company operates through five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants. The Company’s construction products are used in residential, industrial, commercial and infrastructure construction, and include cement, slag, concrete and aggregates.
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