Eagle Materials, Inc. (NYSE:EXP) Short Interest Update

Eagle Materials, Inc. (NYSE:EXP) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 3,328,600 shares, an increase of 13.6% from the May 15th total of 2,929,800 shares. Currently, 7.3% of the shares of the company are sold short. Based on an average trading volume of 574,000 shares, the days-to-cover ratio is presently 5.8 days.

Institutional investors have recently modified their holdings of the company. Amalgamated Bank boosted its position in shares of Eagle Materials by 49.0% in the fourth quarter. Amalgamated Bank now owns 10,704 shares of the construction company’s stock worth $653,000 after buying an additional 3,519 shares during the period. Advisory Services Network LLC boosted its position in Eagle Materials by 18.3% during the first quarter. Advisory Services Network LLC now owns 2,851 shares of the construction company’s stock valued at $240,000 after purchasing an additional 441 shares during the last quarter. Janus Henderson Group PLC boosted its position in Eagle Materials by 21.8% during the first quarter. Janus Henderson Group PLC now owns 6,535 shares of the construction company’s stock valued at $551,000 after purchasing an additional 1,168 shares during the last quarter. Broad Bay Capital Management LP acquired a new stake in Eagle Materials during the fourth quarter valued at $18,816,000. Finally, Weitz Investment Management Inc. acquired a new stake in Eagle Materials during the first quarter valued at $6,618,000. 95.66% of the stock is owned by institutional investors and hedge funds.

Several analysts recently commented on EXP shares. ValuEngine upgraded Zumiez from a “sell” rating to a “hold” rating in a research report on Saturday, March 30th. Berenberg Bank restated a “buy” rating and issued a GBX 3,620 ($47.30) target price on shares of Bellway in a research report on Wednesday, April 3rd. DA Davidson upgraded Urban Outfitters from a “neutral” rating to a “buy” rating and raised their target price for the company from $30.00 to $36.00 in a research report on Tuesday, April 2nd. Jefferies Financial Group cut Alcoa from a “buy” rating to a “hold” rating and lowered their price target for the company from $29.00 to $23.00 in a research report on Thursday. Finally, Macquarie reiterated a “buy” rating on shares of easyJet in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. Eagle Materials has a consensus rating of “Hold” and a consensus target price of $95.23.

Shares of EXP traded up $0.49 during trading hours on Friday, hitting $86.01. 383,774 shares of the company were exchanged, compared to its average volume of 529,967. The company has a market capitalization of $3.69 billion, a P/E ratio of 17.03, a PEG ratio of 1.52 and a beta of 1.29. The business’s fifty day moving average is $88.00. The company has a quick ratio of 0.85, a current ratio of 2.38 and a debt-to-equity ratio of 0.54. Eagle Materials has a one year low of $57.00 and a one year high of $111.42.

Eagle Materials (NYSE:EXP) last issued its earnings results on Thursday, May 16th. The construction company reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.08. The business had revenue of $284.70 million during the quarter, compared to analysts’ expectations of $278.70 million. Eagle Materials had a return on equity of 17.82% and a net margin of 4.94%. Eagle Materials’s revenue was up .0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.76 earnings per share. Equities analysts anticipate that Eagle Materials will post 5.61 earnings per share for the current fiscal year.

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

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.

Read More: P/E Growth (PEG)

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