Eagle Materials Inc. (NYSE:EXP) Short Interest Up 43.0% in March

Eagle Materials Inc. (NYSE:EXP) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 1,390,000 shares, an increase of 43.0% from the February 28th total of 971,700 shares. Based on an average daily trading volume, of 354,800 shares, the days-to-cover ratio is currently 3.9 days. Currently, 4.2% of the shares of the stock are sold short.

Eagle Materials Stock Performance

Shares of Eagle Materials stock traded up $0.92 during trading on Monday, hitting $221.89. 472,333 shares of the stock were exchanged, compared to its average volume of 318,533. Eagle Materials has a 1-year low of $205.44 and a 1-year high of $321.93. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 15.85 and a beta of 1.37. The company has a fifty day moving average price of $235.73 and a 200-day moving average price of $265.19. The company has a current ratio of 2.76, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66.

Eagle Materials (NYSE:EXP) last released its quarterly earnings data on Wednesday, January 29th. The construction company reported $3.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.97 by ($0.38). Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. As a group, equities analysts predict that Eagle Materials will post 14.39 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, March 17th. Eagle Materials’s dividend payout ratio is presently 7.14%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on EXP shares. Stephens reissued an “overweight” rating and set a $310.00 price objective on shares of Eagle Materials in a report on Thursday, January 30th. Jefferies Financial Group cut Eagle Materials from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $330.00 to $310.00 in a research note on Monday, December 16th. DA Davidson lowered their target price on shares of Eagle Materials from $265.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. JPMorgan Chase & Co. dropped their price target on Eagle Materials from $310.00 to $250.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Finally, Citigroup cut shares of Eagle Materials from a “buy” rating to a “neutral” rating and cut their price objective for the company from $334.00 to $280.00 in a research report on Monday, January 6th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $286.40.

Insider Activity

In other news, Director Michael R. Nicolais purchased 310 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average cost of $257.36 per share, with a total value of $79,781.60. Following the acquisition, the director now directly owns 3,655 shares of the company’s stock, valued at approximately $940,650.80. This trade represents a 9.27 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC grew its position in shares of Eagle Materials by 21.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,523 shares of the construction company’s stock valued at $376,000 after purchasing an additional 266 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Eagle Materials by 10.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,903 shares of the construction company’s stock valued at $25,886,000 after buying an additional 9,723 shares in the last quarter. Twinbeech Capital LP bought a new position in Eagle Materials during the 4th quarter worth $6,226,000. Two Sigma Advisers LP lifted its holdings in shares of Eagle Materials by 8.7% during the fourth quarter. Two Sigma Advisers LP now owns 22,400 shares of the construction company’s stock worth $5,527,000 after buying an additional 1,800 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of Eagle Materials by 329.5% in the fourth quarter. Two Sigma Investments LP now owns 24,296 shares of the construction company’s stock valued at $5,995,000 after acquiring an additional 18,639 shares during the period. 96.07% of the stock is owned by institutional investors.

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.