Eagle Materials Inc (NYSE:EXP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday.

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

Several other analysts also recently issued reports on the stock. Standpoint Research raised shares of Eagle Materials from a “hold” rating to a “buy” rating in a report on Monday, July 31st. BidaskClub raised shares of Eagle Materials from a “strong sell” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Citigroup Inc. raised shares of Eagle Materials from a “neutral” rating to a “buy” rating and reduced their price target for the company from $115.00 to $110.00 in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $110.00.

Eagle Materials (NYSE:EXP) traded up 2.19% during mid-day trading on Tuesday, reaching $110.77. 853,472 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $105.55 and its 200 day moving average is $97.16. Eagle Materials has a 1-year low of $78.71 and a 1-year high of $110.98. The stock has a market capitalization of $5.37 billion, a PE ratio of 25.75 and a beta of 1.17.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Thursday, July 27th. The construction company reported $1.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.17. Eagle Materials had a net margin of 16.23% and a return on equity of 18.29%. The company had revenue of $366.10 million for the quarter, compared to the consensus estimate of $369.68 million. During the same quarter in the prior year, the firm earned $0.93 earnings per share. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. Analysts forecast that Eagle Materials will post $5.42 earnings per share for the current fiscal year.

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In other Eagle Materials news, CFO Dale Craig Kesler sold 5,000 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $101.40, for a total value of $507,000.00. Following the sale, the chief financial officer now owns 61,778 shares of the company’s stock, valued at $6,264,289.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David B. Powers sold 11,317 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $93.57, for a total transaction of $1,058,931.69. Following the completion of the sale, the chief executive officer now directly owns 106,580 shares in the company, valued at approximately $9,972,690.60. The disclosure for this sale can be found here. Insiders sold 69,774 shares of company stock worth $6,798,741 in the last ninety days. Insiders own 4.10% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. UBS Asset Management Americas Inc. lifted its stake in shares of Eagle Materials by 5.4% during the first quarter. UBS Asset Management Americas Inc. now owns 69,613 shares of the construction company’s stock valued at $6,762,000 after buying an additional 3,596 shares during the period. Wellington Management Group LLP lifted its stake in shares of Eagle Materials by 372.7% during the first quarter. Wellington Management Group LLP now owns 11,624 shares of the construction company’s stock valued at $1,129,000 after buying an additional 9,165 shares during the period. Teachers Advisors LLC lifted its stake in shares of Eagle Materials by 5.9% during the first quarter. Teachers Advisors LLC now owns 303,326 shares of the construction company’s stock valued at $29,465,000 after buying an additional 16,775 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Eagle Materials by 25.6% during the first quarter. PNC Financial Services Group Inc. now owns 7,428 shares of the construction company’s stock valued at $722,000 after buying an additional 1,516 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Eagle Materials by 69.2% during the first quarter. Legal & General Group Plc now owns 42,899 shares of the construction company’s stock valued at $4,168,000 after buying an additional 17,547 shares during the period. 91.12% of the stock is currently owned by institutional investors.

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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