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


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Eagle Materials Inc. (NYSE:EXP) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 1,370,000 shares, a growth of 24.5% from the March 31st total of 1,100,000 shares. Approximately 3.3% of the shares of the company are short sold. Based on an average daily volume of 356,500 shares, the days-to-cover ratio is presently 3.8 days.

A number of analysts have recently weighed in on EXP shares. Raymond James increased their price objective on shares of Eagle Materials from $130.00 to $165.00 and gave the stock an “outperform” rating in a research note on Monday. Truist lifted their price objective on Eagle Materials from $135.00 to $160.00 in a research note on Wednesday, March 31st. JPMorgan Chase & Co. upped their target price on Eagle Materials from $115.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, January 22nd. TheStreet upgraded Eagle Materials from a “c+” rating to a “b” rating in a research report on Wednesday, January 6th. Finally, Zacks Investment Research lowered Eagle Materials from a “buy” rating to a “hold” rating in a research report on Wednesday, April 21st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $119.00.

In other news, Director David B. Powers sold 29,647 shares of the stock in a transaction dated Thursday, February 4th. The stock was sold at an average price of $117.11, for a total value of $3,471,960.17. Following the transaction, the director now directly owns 65,499 shares of the company’s stock, valued at $7,670,587.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Haack sold 9,907 shares of the firm’s stock in a transaction dated Tuesday, April 6th. The stock was sold at an average price of $137.78, for a total value of $1,364,986.46. Following the completion of the transaction, the chief executive officer now owns 57,141 shares of the company’s stock, valued at $7,872,886.98. The disclosure for this sale can be found here. Insiders have sold a total of 144,093 shares of company stock worth $17,242,848 in the last 90 days. 2.30% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Exane Derivatives grew its position in shares of Eagle Materials by 19.1% in the first quarter. Exane Derivatives now owns 585 shares of the construction company’s stock valued at $79,000 after purchasing an additional 94 shares during the period. Louisiana State Employees Retirement System increased its stake in Eagle Materials by 1.0% during the 4th quarter. Louisiana State Employees Retirement System now owns 10,500 shares of the construction company’s stock worth $1,064,000 after buying an additional 100 shares in the last quarter. Penserra Capital Management LLC raised its holdings in shares of Eagle Materials by 3.8% during the fourth quarter. Penserra Capital Management LLC now owns 3,150 shares of the construction company’s stock valued at $319,000 after acquiring an additional 114 shares during the last quarter. CENTRAL TRUST Co boosted its stake in shares of Eagle Materials by 67.4% in the first quarter. CENTRAL TRUST Co now owns 360 shares of the construction company’s stock worth $48,000 after acquiring an additional 145 shares during the last quarter. Finally, CWM LLC lifted its holdings in Eagle Materials by 192.5% in the 1st quarter. CWM LLC now owns 234 shares of the construction company’s stock valued at $31,000 after purchasing an additional 154 shares in the last quarter. 94.24% of the stock is owned by institutional investors.

Shares of Eagle Materials stock traded up $1.85 on Tuesday, reaching $142.09. The company’s stock had a trading volume of 393,555 shares, compared to its average volume of 356,453. The company has a quick ratio of 2.58, a current ratio of 3.98 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $5.97 billion, a P/E ratio of 39.58 and a beta of 1.30. The stock has a 50-day moving average price of $136.77 and a 200-day moving average price of $113.47. Eagle Materials has a 52-week low of $48.56 and a 52-week high of $145.00.

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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