Eagle Materials Inc. (NYSE:EXP) Short Interest Up 8.0% in October

Eagle Materials Inc. (NYSE:EXP - Get Free Report) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totalling 1,210,000 shares, a growth of 8.0% from the September 30th total of 1,120,000 shares. Currently, 3.6% of the shares of the stock are short sold. Based on an average daily volume of 299,100 shares, the short-interest ratio is currently 4.0 days.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Eagle Materials from $270.00 to $290.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. Jefferies Financial Group upped their price objective on shares of Eagle Materials from $309.00 to $330.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. The Goldman Sachs Group raised their target price on shares of Eagle Materials from $277.00 to $317.00 and gave the stock a "buy" rating in a research note on Wednesday. Stephens upped their price target on Eagle Materials from $280.00 to $315.00 and gave the company an "overweight" rating in a research report on Thursday, August 1st. Finally, Citigroup increased their price target on Eagle Materials from $252.00 to $311.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $302.67.

Insider Transactions at Eagle Materials

In related news, Director George John Damiris sold 1,000 shares of the firm's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $277.62, for a total value of $277,620.00. Following the transaction, the director now directly owns 7,943 shares of the company's stock, valued at approximately $2,205,135.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Eagle Materials

Several large investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new stake in Eagle Materials in the third quarter valued at approximately $64,000. Financial Strategies Group Inc. grew its stake in shares of Eagle Materials by 4.4% in the third quarter. Financial Strategies Group Inc. now owns 1,022 shares of the construction company's stock valued at $304,000 after buying an additional 43 shares in the last quarter. Lifestyle Asset Management Inc. grew its stake in shares of Eagle Materials by 12.6% in the third quarter. Lifestyle Asset Management Inc. now owns 4,084 shares of the construction company's stock valued at $1,175,000 after buying an additional 457 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in shares of Eagle Materials in the 3rd quarter valued at $235,000. Finally, Mariner Investment Group LLC acquired a new position in Eagle Materials during the 3rd quarter worth about $288,000. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Eagle Materials Trading Up 0.7 %

EXP traded up $2.03 during trading hours on Friday, reaching $287.49. The company's stock had a trading volume of 223,511 shares, compared to its average volume of 307,477. The business's 50-day moving average is $277.89 and its 200-day moving average is $253.25. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.34 and a quick ratio of 1.17. The stock has a market cap of $9.64 billion, a PE ratio of 20.30 and a beta of 1.32. Eagle Materials has a fifty-two week low of $161.05 and a fifty-two week high of $306.36.

Eagle Materials (NYSE:EXP - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $4.31 EPS for the quarter, missing the consensus estimate of $4.75 by ($0.44). The business had revenue of $623.62 million during the quarter, compared to analyst estimates of $651.46 million. Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. The business's revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the company earned $4.28 EPS. As a group, equities research analysts predict that Eagle Materials will post 15.45 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Tuesday, September 17th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Tuesday, September 17th. Eagle Materials's dividend payout ratio (DPR) is 7.06%.

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.