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

Eagle Materials Inc. (NYSE:EXP - Get Free Report) was the target of a large growth in short interest in 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 stock are short sold. Based on an average daily volume of 354,800 shares, the short-interest ratio is presently 3.9 days.

Eagle Materials Stock Performance

Shares of NYSE:EXP traded up $5.49 during midday trading on Tuesday, reaching $227.42. 390,996 shares of the company traded hands, compared to its average volume of 318,820. Eagle Materials has a 12 month low of $205.44 and a 12 month high of $321.93. The firm's fifty day moving average price is $235.73 and its two-hundred day moving average price is $265.19. The company has a quick ratio of 1.01, a current ratio of 2.76 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 16.24 and a beta of 1.37.

Eagle Materials (NYSE:EXP - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The construction company reported $3.59 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, equities analysts expect that Eagle Materials will post 14.39 earnings per share for the current year.

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Eagle Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 17th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Eagle Materials's dividend payout ratio (DPR) is currently 7.14%.

Analysts Set New Price Targets

EXP has been the subject of several research reports. Stifel Nicolaus began coverage on shares of Eagle Materials in a research report on Tuesday, March 4th. They set a "hold" rating and a $242.00 price target for the company. Jefferies Financial Group downgraded 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 research report on Monday, December 16th. Citigroup cut shares of Eagle Materials from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $334.00 to $280.00 in a report on Monday, January 6th. DA Davidson reduced their price objective on Eagle Materials from $265.00 to $260.00 and set a "neutral" rating for the company in a report on Thursday, January 30th. Finally, Loop Capital decreased their target price on Eagle Materials from $280.00 to $245.00 and set a "hold" rating for the company in a research report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $279.40.

Insiders Place Their Bets

In other Eagle Materials news, Director Michael R. Nicolais acquired 310 shares of the business's stock in a transaction on Monday, February 10th. The shares were acquired at an average price of $257.36 per share, with a total value of $79,781.60. Following the completion of the transaction, the director now owns 3,655 shares in the company, valued at approximately $940,650.80. This trade represents a 9.27 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eagle Materials

Large investors have recently added to or reduced their stakes in the business. Private Trust Co. NA raised its holdings in shares of Eagle Materials by 53.0% in the 4th quarter. Private Trust Co. NA now owns 205 shares of the construction company's stock valued at $51,000 after acquiring an additional 71 shares in the last quarter. Huntington National Bank increased its position in shares of Eagle Materials by 154.8% in the fourth 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 purchased a new stake in Eagle Materials in the fourth quarter valued at approximately $81,000. LGT Financial Advisors LLC lifted its position in Eagle Materials by 233.1% during the fourth quarter. LGT Financial Advisors LLC now owns 443 shares of the construction company's stock valued at $109,000 after purchasing an additional 310 shares during the last quarter. Finally, Transce3nd LLC bought a new stake in Eagle Materials during the fourth quarter valued at approximately $125,000. Institutional investors own 96.07% of the company's stock.

Eagle Materials Company Profile

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.