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

Eagle Materials Inc. (NYSE:EXPGet Rating) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,090,000 shares, an increase of 7.9% from the August 15th total of 1,010,000 shares. Approximately 2.9% of the shares of the company are sold short. Based on an average trading volume of 323,100 shares, the short-interest ratio is presently 3.4 days.

Eagle Materials Trading Up 3.3 %

Eagle Materials stock opened at $115.16 on Tuesday. The stock has a market cap of $4.34 billion, a PE ratio of 11.95 and a beta of 1.29. The stock has a 50-day moving average price of $122.86 and a 200 day moving average price of $123.60. Eagle Materials has a 52 week low of $105.34 and a 52 week high of $169.15. The company has a current ratio of 2.39, a quick ratio of 1.37 and a debt-to-equity ratio of 1.00.

Eagle Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Thursday, September 15th. Eagle Materials’s dividend payout ratio is presently 10.37%.

Institutional Trading of Eagle Materials

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EXP. Fifth Third Bancorp grew its holdings in Eagle Materials by 45.7% in the 2nd quarter. Fifth Third Bancorp now owns 325 shares of the construction company’s stock valued at $36,000 after buying an additional 102 shares during the period. Prospera Financial Services Inc purchased a new stake in Eagle Materials in the 1st quarter valued at about $42,000. Meeder Asset Management Inc. grew its holdings in Eagle Materials by 90.9% in the 1st quarter. Meeder Asset Management Inc. now owns 462 shares of the construction company’s stock valued at $60,000 after buying an additional 220 shares during the period. Van ECK Associates Corp purchased a new stake in Eagle Materials in the 2nd quarter valued at about $113,000. Finally, Odey Asset Management Group Ltd purchased a new stake in Eagle Materials in the 4th quarter valued at about $117,000. Hedge funds and other institutional investors own 93.41% of the company’s stock.

Analysts Set New Price Targets

EXP has been the topic of a number of research reports. StockNews.com upgraded shares of Eagle Materials from a “hold” rating to a “buy” rating in a research report on Friday, July 29th. Citigroup raised their target price on shares of Eagle Materials to $146.00 in a research report on Tuesday, August 9th. Truist Financial decreased their price target on Eagle Materials from $172.00 to $155.00 and set a “buy” rating for the company in a report on Monday, May 23rd. Stephens decreased their price target on Eagle Materials to $170.00 in a report on Tuesday, July 26th. Finally, JPMorgan Chase & Co. downgraded Eagle Materials from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $165.00 to $130.00 in a report on Wednesday, July 20th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $159.09.

About Eagle Materials

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Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials and light building materials in the United States. It operates through Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard segments. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland 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.

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