Published On: Thu, Sep 15th, 2016

Eagle Materials Inc. (EXP) Downgraded by Zacks Investment Research to Hold

Eagle Materials Inc. (NYSE:EXP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Eagle Materials Inc. is a Dallas-based company that manufactures and distributes Cement, Gypsum Wallboard, Recycled Paperboard and Concrete and Aggregates. “
EXP has been the subject of several other reports. DA Davidson reduced their price target on Eagle Materials from $100.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, July 26th. Standpoint Research cut Eagle Materials from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Finally, CL King cut Eagle Materials from a “strong-buy” rating to a “neutral” rating in a research report on Tuesday, July 26th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $84.13.

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Shares of Eagle Materials (NYSE:EXP) traded down 1.00% during midday trading on Wednesday, hitting $75.39. The stock had a trading volume of 580,714 shares. The firm’s 50-day moving average price is $81.53 and its 200-day moving average price is $76.00. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of 23.36 and a beta of 1.53. Eagle Materials has a 1-year low of $45.03 and a 1-year high of $87.57.
Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Monday, July 25th. The company reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.07. The company earned $297 million during the quarter, compared to analysts’ expectations of $295.49 million. Eagle Materials had a return on equity of 17.68% and a net margin of 13.85%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 earnings per share. Analysts forecast that Eagle Materials will post $4.36 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Wednesday, October 5th. Eagle Materials’s dividend payout ratio (DPR) is presently 12.35%.
In other news, EVP Robert S. Stewart sold 12,098 shares of the business’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $85.08, for a total value of $1,029,297.84. Following the completion of the sale, 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 is available at this hyperlink. Also, Director F William Barnett sold 16,221 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $85.77, for a total value of $1,391,275.17. Following the completion of the sale, the director now directly owns 7,519 shares of the company’s stock, valued at approximately $644,904.63. The disclosure for this sale can be found here. 5.50% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in EXP. Mason Street Advisors LLC bought a new stake in Eagle Materials during the second quarter worth $1,699,000. Public Employees Retirement System of Ohio raised its stake in Eagle Materials by 235.9% in the second quarter. Public Employees Retirement System of Ohio now owns 59,448 shares of the company’s stock worth $4,586,000 after buying an additional 41,748 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Eagle Materials by 6.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 165,970 shares of the company’s stock worth $12,805,000 after buying an additional 9,906 shares during the period. Hillsdale Investment Management Inc. bought a new stake in Eagle Materials during the second quarter worth $348,000. Finally, Amalgamated Bank raised its stake in Eagle Materials by 32.9% in the second quarter. Amalgamated Bank now owns 8,198 shares of the company’s stock worth $673,000 after buying an additional 2,031 shares during the period. 91.69% of the stock is 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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