Short Interest in Eagle Materials Inc. (NYSE:EXP) Increases By 43.0%

Eagle Materials Inc. (NYSE:EXP) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,390,000 shares, a growth of 43.0% from the February 28th total of 971,700 shares. Approximately 4.2% of the company’s shares are sold short. Based on an average trading volume of 354,800 shares, the short-interest ratio is currently 3.9 days.

Eagle Materials Stock Performance

Shares of NYSE EXP traded up $0.92 during trading on Monday, reaching $221.89. The stock had a trading volume of 472,333 shares, compared to its average volume of 318,533. Eagle Materials has a one year low of $205.44 and a one year high of $321.93. The firm’s 50 day moving average price is $235.73 and its two-hundred day moving average price is $265.19. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 2.76. The stock has a market cap of $7.39 billion, a PE ratio of 15.85 and a beta of 1.37.

Eagle Materials (NYSE:EXP) last released its quarterly earnings data on Wednesday, January 29th. The construction company reported $3.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.97 by ($0.38). Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. On average, research analysts forecast that Eagle Materials will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, March 17th. Eagle Materials’s dividend payout ratio (DPR) is 7.14%.

Insider Buying and Selling at Eagle Materials

In related news, Director Michael R. Nicolais acquired 310 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was bought at an average price of $257.36 per share, with a total value of $79,781.60. Following the purchase, the director now directly owns 3,655 shares in the company, valued at $940,650.80. The trade was a 9.27 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Eagle Materials

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Trust Co. NA raised its position in Eagle Materials by 53.0% in the fourth quarter. Private Trust Co. NA now owns 205 shares of the construction company’s stock worth $51,000 after acquiring an additional 71 shares in the last quarter. Huntington National Bank increased its position in Eagle Materials by 154.8% in the 4th quarter. Huntington National Bank now owns 237 shares of the construction company’s stock worth $58,000 after purchasing an additional 144 shares during the last quarter. R Squared Ltd bought a new position in shares of Eagle Materials during the 4th quarter valued at $81,000. LGT Financial Advisors LLC lifted its position in shares of Eagle Materials by 233.1% in the fourth quarter. LGT Financial Advisors LLC now owns 443 shares of the construction company’s stock worth $109,000 after buying an additional 310 shares during the last quarter. Finally, Transce3nd LLC bought a new stake in shares of Eagle Materials during the 4th quarter worth $125,000. 96.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EXP has been the topic of a number of research analyst reports. DA Davidson reduced their target price on Eagle Materials from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. JPMorgan Chase & Co. decreased their price objective on shares of Eagle Materials from $310.00 to $250.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Jefferies Financial Group lowered shares of Eagle Materials from a “buy” rating to a “hold” rating and reduced their target price for the company from $330.00 to $310.00 in a report on Monday, December 16th. Stephens reiterated an “overweight” rating and issued a $310.00 price target on shares of Eagle Materials in a report on Thursday, January 30th. Finally, Stifel Nicolaus assumed coverage on Eagle Materials in a research note on Tuesday, March 4th. They set a “hold” rating and a $242.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Eagle Materials currently has an average rating of “Hold” and an average price target of $286.40.

About Eagle Materials

Eagle Materials Inc, through its subsidiaries, manufactures and sells heavy construction materials and light building materials in the United States. It operates in four segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland cement, including Portland limestone cement; grinding and sale of slag; and mining of gypsum for the manufacture and sale of gypsum wallboards used to finish the interior walls and ceilings in residential, commercial, and industrial structures, as well as well as containerboard and lightweight packaging grades; manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and mining and sale of aggregates, such as crushed stone, sand, and gravel.