Stock Traders Purchase High Volume of Eagle Materials Put Options (NYSE:EXP)

Eagle Materials, Inc. (NYSE:EXP) saw unusually large options trading activity on Wednesday. Stock investors acquired 1,694 put options on the stock. This is an increase of approximately 2,723% compared to the average daily volume of 60 put options.

Shares of NYSE EXP opened at $85.68 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.85 and a current ratio of 2.38. The stock has a market cap of $3.86 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 1.54 and a beta of 1.31. Eagle Materials has a 12-month low of $57.00 and a 12-month high of $115.75.

Eagle Materials (NYSE:EXP) last announced its earnings results on Thursday, May 16th. The construction company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.08. The firm had revenue of $284.70 million for the quarter, compared to analysts’ expectations of $278.70 million. Eagle Materials had a net margin of 4.94% and a return on equity of 17.82%. The business’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 EPS. As a group, sell-side analysts expect that Eagle Materials will post 5.66 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, June 21st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Thursday, June 20th. Eagle Materials’s dividend payout ratio is 7.92%.

Several research analysts recently weighed in on EXP shares. Zacks Investment Research raised shares of Eagle Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 5th. ValuEngine upgraded shares of Eagle Materials from a “sell” rating to a “hold” rating in a research note on Saturday, March 9th. Jefferies Financial Group upgraded shares of Eagle Materials from an “underweight” rating to a “market weight” rating in a research note on Monday, March 11th. Longbow Research cut shares of Eagle Materials from a “buy” rating to a “neutral” rating in a research note on Thursday, March 14th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Eagle Materials in a research note on Thursday, March 21st. They issued a “neutral” rating and a $85.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $102.68.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Penserra Capital Management LLC purchased a new position in shares of Eagle Materials during the first quarter worth $31,000. Cresset Asset Management LLC purchased a new position in shares of Eagle Materials during the first quarter worth $48,000. Quadrant Capital Group LLC raised its holdings in shares of Eagle Materials by 294.6% during the first quarter. Quadrant Capital Group LLC now owns 1,180 shares of the construction company’s stock worth $97,000 after purchasing an additional 881 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Eagle Materials during the fourth quarter worth $95,000. Finally, Coldstream Capital Management Inc. purchased a new position in shares of Eagle Materials during the first quarter worth $207,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

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About Eagle Materials

Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials, light building materials, and materials used for oil and natural gas extraction in the United States. It operates in five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants.

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