Eagle Materials Inc (EXP) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Eagle Materials Inc (NYSE:EXP) from a buy rating to a hold rating in a research report sent to investors on Friday, June 9th.

According to Zacks, “Eagle Materials Inc. is a Dallas-based company that manufactures and distributes Cement, Gypsum Wallboard, Recycled Paperboard and Concrete and Aggregates. “

Separately, Stephens raised Eagle Materials from an equal weight rating to an overweight rating in a research report on Tuesday, May 30th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $102.50.

Shares of Eagle Materials (NYSE EXP) traded down 0.01% during midday trading on Friday, hitting $93.65. The stock had a trading volume of 588,611 shares. The stock has a market cap of $4.55 billion, a P/E ratio of 22.84 and a beta of 1.29. The stock has a 50-day moving average price of $97.38 and a 200-day moving average price of $99.54. Eagle Materials has a 12-month low of $71.24 and a 12-month high of $110.64.

Eagle Materials (NYSE:EXP) last issued its earnings results on Thursday, May 18th. The construction company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.03. The business had revenue of $278.60 million for the quarter, compared to analyst estimates of $271.18 million. Eagle Materials had a return on equity of 18.07% and a net margin of 16.36%. The business’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period last year, the company posted $0.80 EPS. Equities analysts forecast that Eagle Materials will post $5.40 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 21st. Shareholders of record on Wednesday, June 21st will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, June 19th. Eagle Materials’s dividend payout ratio (DPR) is presently 9.76%.

In other Eagle Materials news, EVP James H. Graass sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $101.00, for a total value of $1,010,000.00. Following the transaction, the executive vice president now directly owns 69,653 shares of the company’s stock, valued at $7,034,953. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David B. Powers sold 11,000 shares of the firm’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $99.03, for a total value of $1,089,330.00. Following the completion of the transaction, the chief executive officer now directly owns 73,400 shares in the company, valued at $7,268,802. The disclosure for this sale can be found here. Company insiders own 5.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EXP. BlackRock Inc. increased its stake in shares of Eagle Materials by 16,628.1% in the first quarter. BlackRock Inc. now owns 3,951,353 shares of the construction company’s stock valued at $383,836,000 after buying an additional 3,927,732 shares in the last quarter. FMR LLC increased its stake in shares of Eagle Materials by 43.0% in the fourth quarter. FMR LLC now owns 4,717,092 shares of the construction company’s stock valued at $464,775,000 after buying an additional 1,418,693 shares in the last quarter. Westwood Holdings Group Inc. acquired a new stake in shares of Eagle Materials during the fourth quarter valued at $49,063,000. Norges Bank acquired a new stake in shares of Eagle Materials during the fourth quarter valued at $36,379,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Eagle Materials by 41.4% in the first quarter. Bank of New York Mellon Corp now owns 1,151,504 shares of the construction company’s stock valued at $111,857,000 after buying an additional 337,102 shares in the last quarter. 93.76% of the stock is currently owned by institutional investors.

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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