Investors Buy Eagle Materials (EXP) on Weakness

Traders purchased shares of Eagle Materials Inc (NYSE:EXP) on weakness during trading hours on Wednesday. $25.81 million flowed into the stock on the tick-up and $13.73 million flowed out of the stock on the tick-down, for a money net flow of $12.08 million into the stock. Of all equities tracked, Eagle Materials had the 32nd highest net in-flow for the day. Eagle Materials traded down ($0.97) for the day and closed at $116.86

EXP has been the topic of several research analyst reports. Zacks Investment Research raised Eagle Materials from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Standpoint Research cut Eagle Materials from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. They noted that the move was a valuation call. Finally, Stifel Nicolaus boosted their price objective on Eagle Materials from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $122.50.

The company has a current ratio of 2.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $5,680.00, a PE ratio of 26.86, a P/E/G ratio of 3.02 and a beta of 1.29.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.22). Eagle Materials had a net margin of 15.93% and a return on equity of 17.75%. The firm had revenue of $376.30 million for the quarter, compared to analysts’ expectations of $412.84 million. During the same period in the prior year, the company earned $1.25 EPS. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. equities analysts forecast that Eagle Materials Inc will post 4.97 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, December 22nd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.34%. Eagle Materials’s dividend payout ratio is presently 9.20%.

In other news, COO Michael Haack sold 6,731 shares of the company’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $115.00, for a total transaction of $774,065.00. Following the transaction, the chief operating officer now owns 28,136 shares of the company’s stock, valued at approximately $3,235,640. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gerald J. Essl sold 8,161 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $105.00, for a total value of $856,905.00. Following the transaction, the insider now directly owns 42,541 shares in the company, valued at approximately $4,466,805. The disclosure for this sale can be found here. Insiders have sold a total of 85,165 shares of company stock worth $9,438,175 in the last ninety days. Insiders own 4.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC lifted its position in shares of Eagle Materials by 9.1% during the 2nd quarter. FMR LLC now owns 4,407,131 shares of the construction company’s stock valued at $407,307,000 after buying an additional 367,661 shares during the last quarter. BlackRock Inc. raised its stake in shares of Eagle Materials by 3.8% during the 2nd quarter. BlackRock Inc. now owns 4,101,930 shares of the construction company’s stock valued at $379,100,000 after purchasing an additional 150,577 shares during the period. Vanguard Group Inc. raised its stake in shares of Eagle Materials by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,784,382 shares of the construction company’s stock valued at $349,753,000 after purchasing an additional 41,784 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Eagle Materials by 19.7% during 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 during the period. Finally, State Street Corp raised its stake in shares of Eagle Materials by 3.0% during 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 during the period. 91.56% of the stock is currently owned by hedge funds and other institutional investors.

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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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