Eagle Materials Inc (NYSE:EXP) Short Interest Up 31.2% in December
by Michael Walen · The Markets DailyEagle Materials Inc (NYSE:EXP – Get Free Report) was the target of a large increase in short interest in December. As of December 15th, there was short interest totaling 1,589,269 shares, an increase of 31.2% from the November 30th total of 1,211,708 shares. Based on an average trading volume of 354,236 shares, the days-to-cover ratio is presently 4.5 days. Currently, 5.0% of the company’s stock are short sold. Currently, 5.0% of the company’s stock are short sold. Based on an average trading volume of 354,236 shares, the days-to-cover ratio is presently 4.5 days.
Analyst Upgrades and Downgrades
EXP has been the subject of a number of research reports. Stifel Nicolaus set a $246.00 target price on shares of Eagle Materials in a research report on Monday, October 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of Eagle Materials in a report on Monday. Truist Financial restated a “hold” rating and issued a $210.00 target price (down from $280.00) on shares of Eagle Materials in a research note on Friday, December 19th. Zacks Research cut Eagle Materials from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 22nd. Finally, Citigroup decreased their price objective on Eagle Materials from $255.00 to $233.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Eagle Materials has an average rating of “Hold” and a consensus target price of $236.30.
Get Our Latest Stock Report on EXP
Insider Buying and Selling
In related news, Director David E. Rush bought 1,000 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were bought at an average price of $208.08 per share, for a total transaction of $208,080.00. Following the completion of the acquisition, the director directly owned 4,173 shares of the company’s stock, valued at $868,317.84. This trade represents a 31.52% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.50% of the company’s stock.
Hedge Funds Weigh In On Eagle Materials
Large investors have recently bought and sold shares of the stock. Versant Capital Management Inc boosted its holdings in shares of Eagle Materials by 130.9% during the third quarter. Versant Capital Management Inc now owns 127 shares of the construction company’s stock worth $30,000 after purchasing an additional 72 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in shares of Eagle Materials in the 3rd quarter worth approximately $30,000. Hantz Financial Services Inc. increased its stake in shares of Eagle Materials by 7,750.0% during the second quarter. Hantz Financial Services Inc. now owns 157 shares of the construction company’s stock valued at $32,000 after buying an additional 155 shares during the period. MAI Capital Management increased its stake in shares of Eagle Materials by 3,060.0% during the second quarter. MAI Capital Management now owns 158 shares of the construction company’s stock valued at $32,000 after buying an additional 153 shares during the period. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Eagle Materials during the third quarter valued at approximately $34,000. 96.07% of the stock is owned by hedge funds and other institutional investors.
Eagle Materials Price Performance
Shares of Eagle Materials stock traded down $3.53 during trading on Thursday, hitting $206.64. The stock had a trading volume of 232,083 shares, compared to its average volume of 426,267. The company has a current ratio of 2.72, a quick ratio of 1.22 and a debt-to-equity ratio of 0.83. Eagle Materials has a 12 month low of $191.91 and a 12 month high of $265.42. The firm has a market cap of $6.62 billion, a price-to-earnings ratio of 15.25 and a beta of 1.37. The business’s 50-day moving average is $215.84 and its 200 day moving average is $221.79.
Eagle Materials (NYSE:EXP – Get Free Report) last posted its earnings results on Thursday, October 30th. The construction company reported $4.23 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.12). Eagle Materials had a return on equity of 30.13% and a net margin of 19.41%.The business had revenue of $638.91 million for the quarter, compared to analysts’ expectations of $635.55 million. During the same quarter in the previous year, the firm earned $4.31 earnings per share. Eagle Materials’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Eagle Materials will post 14.39 earnings per share for the current year.
Eagle Materials Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 12th. Shareholders of record on Monday, December 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.00 annualized dividend and a yield of 0.5%. Eagle Materials’s payout ratio is currently 7.38%.
Eagle Materials Company Profile
Eagle Materials Inc (NYSE:EXP) is a Dallas, Texas–based manufacturer of building materials serving construction and heavy industry markets across the United States. The company’s primary products include portland and masonry cements, gypsum wallboard, lightweight aggregate, paperboard packaging, and roofing granules. These product lines support a wide range of end uses—from residential and commercial buildings to infrastructure projects and industrial applications.
Since its spin-off from a major homebuilding company in 2004, Eagle Materials has grown through targeted facility expansions and strategic acquisitions.