Eagle Materials Inc (NYSE:EXP) Releases Quarterly Earnings Results, Meets Estimates
Eagle Materials Inc (NYSE:EXP) issued its quarterly earnings data on Thursday. The construction company reported $1.17 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.17, MarketWatch Earnings reports. The company had revenue of $366.10 million for the quarter, compared to analyst estimates of $369.68 million. Eagle Materials had a net margin of 16.36% and a return on equity of 18.07%. The company’s revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.93 earnings per share.
Eagle Materials (EXP) traded up 3.21% during trading on Thursday, reaching $94.92. 608,567 shares of the company were exchanged. The firm’s 50 day moving average price is $93.23 and its 200-day moving average price is $98.14. Eagle Materials has a one year low of $73.27 and a one year high of $110.64. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 23.15 and a beta of 1.23.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Wednesday, June 21st were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Monday, June 19th. Eagle Materials’s dividend payout ratio is 9.76%.
In other Eagle Materials news, CEO David B. Powers sold 11,000 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $99.03, for a total transaction of $1,089,330.00. Following the sale, the chief executive officer now directly owns 73,400 shares of the company’s stock, valued at $7,268,802. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP James H. Graass sold 10,000 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $101.00, for a total transaction of $1,010,000.00. Following the sale, the executive vice president now directly owns 69,653 shares in the company, valued at $7,034,953. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Boston Advisors LLC increased its stake in Eagle Materials by 37.8% in the first quarter. Boston Advisors LLC now owns 167,455 shares of the construction company’s stock valued at $16,267,000 after buying an additional 45,950 shares during the period. Acadian Asset Management LLC increased its stake in Eagle Materials by 16.3% in the first quarter. Acadian Asset Management LLC now owns 4,537 shares of the construction company’s stock valued at $441,000 after buying an additional 636 shares during the period. Vanguard Group Inc. increased its stake in Eagle Materials by 5.0% in the first quarter. Vanguard Group Inc. now owns 3,742,598 shares of the construction company’s stock valued at $363,557,000 after buying an additional 179,308 shares during the period. 1st Global Advisors Inc. increased its stake in Eagle Materials by 2.1% in the first quarter. 1st Global Advisors Inc. now owns 3,607 shares of the construction company’s stock valued at $350,000 after buying an additional 73 shares during the period. Finally, KCG Holdings Inc. bought a new stake in shares of Eagle Materials during the first quarter valued at $2,040,000. 92.66% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on EXP shares. Zacks Investment Research raised shares of Eagle Materials from a “hold” rating to a “buy” rating and set a $111.00 price objective on the stock in a research report on Wednesday, May 24th. Stephens raised shares of Eagle Materials from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, May 30th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $102.00.
Eagle Materials Company Profile
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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