Traders Purchase Large Volume of Call Options on Eagle Materials (NYSE:EXP)

Eagle Materials (NYSE:EXP) saw unusually large options trading on Thursday. Stock traders bought 4,046 call options on the company. This represents an increase of 1,756% compared to the average volume of 218 call options.

A number of research firms have recently commented on EXP. Longbow Research upgraded Eagle Materials from a “neutral” rating to a “buy” rating in a report on Friday, March 23rd. Citigroup started coverage on Eagle Materials in a report on Tuesday, March 13th. They issued a “market perform” rating on the stock. They noted that the move was a valuation call. Zacks Investment Research upgraded Eagle Materials from a “sell” rating to a “hold” rating in a report on Monday, February 5th. Raymond James Financial started coverage on Eagle Materials in a report on Tuesday, March 13th. They set a “market perform” rating on the stock. Finally, Stifel Nicolaus dropped their target price on Eagle Materials from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $135.00.

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Shares of NYSE:EXP traded down $2.66 during mid-day trading on Friday, hitting $99.65. 494,737 shares of the company traded hands, compared to its average volume of 562,888. The company has a market cap of $4,979.31, a P/E ratio of 23.56, a PEG ratio of 1.96 and a beta of 1.19. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.06 and a current ratio of 2.44. Eagle Materials has a 52-week low of $86.51 and a 52-week high of $122.49.

Eagle Materials (NYSE:EXP) last announced its earnings results on Wednesday, January 31st. The construction company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.43 by $0.20. Eagle Materials had a return on equity of 18.66% and a net margin of 18.53%. The business had revenue of $359.40 million for the quarter, compared to the consensus estimate of $364.52 million. During the same period last year, the business posted $1.17 EPS. The company’s revenue was up 18.8% on a year-over-year basis. analysts predict that Eagle Materials will post 5.22 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 11th. Shareholders of record on Thursday, April 12th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, April 11th. This represents a $0.40 dividend on an annualized basis and a yield of 0.40%. Eagle Materials’s dividend payout ratio (DPR) is presently 9.46%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its stake in Eagle Materials by 4.8% during the 4th quarter. BlackRock Inc. now owns 4,247,685 shares of the construction company’s stock valued at $481,262,000 after purchasing an additional 193,260 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Eagle Materials by 19.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,822,368 shares of the construction company’s stock valued at $303,320,000 after purchasing an additional 464,534 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Eagle Materials by 77.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,851,844 shares of the construction company’s stock valued at $209,813,000 after purchasing an additional 805,668 shares in the last quarter. Wells Fargo & Company MN grew its stake in Eagle Materials by 5.1% during the 4th quarter. Wells Fargo & Company MN now owns 633,985 shares of the construction company’s stock valued at $71,831,000 after purchasing an additional 30,762 shares in the last quarter. Finally, Hermes Investment Management Ltd. grew its stake in Eagle Materials by 2.6% during the 4th quarter. Hermes Investment Management Ltd. now owns 590,404 shares of the construction company’s stock valued at $66,893,000 after purchasing an additional 14,788 shares in the last quarter. Hedge funds and other institutional investors own 96.04% of the company’s stock.

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Eagle Materials Company Profile

Eagle Materials Inc produces and sells construction products and building materials for use in residential, industrial, commercial, and infrastructure construction in the United States. It also produces materials used for oil and natural gas extraction. The company operates in five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants.

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