Eagle Materials, Inc. (NYSE:EXP) Short Interest Up 13.5% in August

Eagle Materials, Inc. (NYSE:EXP) saw a large growth in short interest in August. As of August 31st, there was short interest totalling 2,732,300 shares, a growth of 13.5% from the July 31st total of 2,407,500 shares. Approximately 6.6% of the company’s stock are short sold. Based on an average daily volume of 520,700 shares, the days-to-cover ratio is currently 5.2 days.

NYSE EXP traded down $0.13 during trading hours on Friday, hitting $86.60. The company’s stock had a trading volume of 418,631 shares, compared to its average volume of 431,071. Eagle Materials has a 52 week low of $57.00 and a 52 week high of $93.18. The company has a market capitalization of $3.64 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 1.66 and a beta of 1.23. The company has a current ratio of 2.42, a quick ratio of 1.05 and a debt-to-equity ratio of 0.85. The company’s 50-day simple moving average is $83.91 and its two-hundred day simple moving average is $84.91.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $1.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by ($0.27). Eagle Materials had a net margin of 3.20% and a return on equity of 17.21%. The business had revenue of $370.60 million during the quarter, compared to the consensus estimate of $376.95 million. During the same period in the previous year, the business posted $1.38 EPS. Eagle Materials’s revenue was down 5.9% compared to the same quarter last year. Research analysts anticipate that Eagle Materials will post 5.23 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.46%. Eagle Materials’s dividend payout ratio is currently 7.92%.

EXP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Eagle Materials from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Zacks Investment Research cut shares of Eagle Materials from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. Jefferies Financial Group cut shares of Eagle Materials from a “buy” rating to a “hold” rating and dropped their price target for the company from $106.00 to $92.00 in a research report on Thursday, July 18th. Northcoast Research cut shares of Eagle Materials from a “neutral” rating to a “sell” rating and set a $76.00 price target on the stock. in a research report on Monday, July 1st. Finally, SunTrust Banks set a $95.00 price target on shares of Eagle Materials and gave the company a “buy” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $93.88.

In other news, insider Keith W. Metcalf sold 10,980 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $81.33, for a total transaction of $893,003.40. Following the transaction, the insider now owns 58,087 shares of the company’s stock, valued at approximately $4,724,215.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ed H. Bowman, Jr. sold 2,492 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $84.52, for a total transaction of $210,623.84. Following the transaction, the director now directly owns 16,386 shares in the company, valued at approximately $1,384,944.72. The disclosure for this sale can be found here. Insiders have sold a total of 44,452 shares of company stock worth $3,704,207 in the last three months. Insiders own 2.20% of the company’s stock.

Several institutional investors have recently bought and sold shares of the business. Advisory Services Network LLC lifted its position in shares of Eagle Materials by 5.2% during the 2nd quarter. Advisory Services Network LLC now owns 3,000 shares of the construction company’s stock worth $278,000 after buying an additional 149 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Eagle Materials by 4.0% during the 2nd quarter. AQR Capital Management LLC now owns 5,388 shares of the construction company’s stock worth $490,000 after buying an additional 205 shares in the last quarter. LPL Financial LLC lifted its position in shares of Eagle Materials by 14.0% during the 2nd quarter. LPL Financial LLC now owns 2,820 shares of the construction company’s stock worth $261,000 after buying an additional 346 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in shares of Eagle Materials during the 1st quarter worth approximately $31,000. Finally, Emerald Advisers LLC increased its stake in shares of Eagle Materials by 5.1% during the 2nd quarter. Emerald Advisers LLC now owns 8,802 shares of the construction company’s stock worth $816,000 after purchasing an additional 429 shares during the last quarter. 97.87% of the stock is currently owned by hedge funds and other institutional investors.

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.

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