Eagle Materials Inc. (EXP) Stock Rating Lowered by CL King
Eagle Materials Inc. (NYSE:EXP) was downgraded by CL King from a “strong-buy” rating to a “neutral” rating in a research note issued to investors on Tuesday.
A number of other research firms also recently issued reports on EXP. BB&T Corp. upgraded shares of Eagle Materials from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Monday, March 28th. Zacks Investment Research downgraded shares of Eagle Materials from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Standpoint Research assumed coverage on shares of Eagle Materials in a research report on Monday, March 28th. They issued an “accumulate” rating and a $91.00 price target on the stock. Sterne Agee CRT restated a “buy” rating on shares of Eagle Materials in a research report on Monday, May 16th. Finally, Goldman Sachs Group Inc. raised their price target on shares of Eagle Materials from $55.00 to $65.00 in a research report on Monday, March 28th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Eagle Materials currently has a consensus rating of “Buy” and an average target price of $84.13.
Shares of Eagle Materials (NYSE:EXP) traded down 2.68% on Tuesday, hitting $77.84. 983,069 shares of the stock were exchanged. The firm’s 50 day moving average price is $78.55 and its 200 day moving average price is $77.45. Eagle Materials has a one year low of $45.03 and a one year high of $87.57. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 24.12 and a beta of 1.47.
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Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Monday, July 25th. The company reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.07. Eagle Materials had a net margin of 13.85% and a return on equity of 17.68%. The firm had revenue of $297 million for the quarter, compared to the consensus estimate of $295.49 million. During the same period in the prior year, the firm posted $0.75 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. Equities analysts anticipate that Eagle Materials will post $4.34 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, October 7th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.40 annualized dividend and a yield of 0.51%. Eagle Materials’s payout ratio is 12.35%.
In other Eagle Materials news, EVP Robert S. Stewart sold 12,098 shares of the firm’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $85.08, for a total transaction of $1,029,297.84. Following the transaction, the executive vice president now owns 66,779 shares of the company’s stock, valued at approximately $5,681,557.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director F William Barnett sold 16,221 shares of the firm’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $85.77, for a total transaction of $1,391,275.17. Following the transaction, the director now directly owns 7,519 shares in the company, valued at approximately $644,904.63. The disclosure for this sale can be found here. Company insiders own 5.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its position in Eagle Materials by 746.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,675 shares of the company’s stock valued at $129,000 after buying an additional 1,477 shares during the last quarter. M&T Bank Corp bought a new position in Eagle Materials during the second quarter valued at approximately $201,000. Independent Portfolio Consultants Inc. bought a new position in Eagle Materials during the third quarter valued at approximately $204,000. PNC Financial Services Group Inc. boosted its position in Eagle Materials by 181.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,739 shares of the company’s stock valued at $212,000 after buying an additional 1,765 shares during the last quarter. Finally, Advisor Group Inc. bought a new position in Eagle Materials during the second quarter valued at approximately $216,000. 91.67% of the stock is currently owned by hedge funds and other 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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