Stock Traders Purchase High Volume of Eagle Materials Put Options (NYSE:EXP)

Eagle Materials, Inc. (NYSE:EXP) was the recipient of unusually large options trading activity on Wednesday. Traders acquired 1,694 put options on the company. This represents an increase of 2,723% compared to the average volume of 60 put options.

Shares of EXP stock opened at $85.68 on Thursday. The company has a current ratio of 2.38, a quick ratio of 0.85 and a debt-to-equity ratio of 0.54. Eagle Materials has a 12 month low of $57.00 and a 12 month high of $115.75. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 1.54 and a beta of 1.31.

Eagle Materials (NYSE:EXP) last released its quarterly earnings results on Thursday, May 16th. The construction company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. The business had revenue of $284.70 million for the quarter, compared to the consensus estimate of $278.70 million. Eagle Materials had a net margin of 4.94% and a return on equity of 17.82%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 EPS. On average, research analysts anticipate that Eagle Materials will post 5.66 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, June 21st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Thursday, June 20th. Eagle Materials’s dividend payout ratio (DPR) is 7.92%.

Several institutional investors have recently added to or reduced their stakes in EXP. Penserra Capital Management LLC purchased a new stake in shares of Eagle Materials in the 1st quarter valued at approximately $31,000. Cresset Asset Management LLC acquired a new position in shares of Eagle Materials in the first quarter valued at approximately $48,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Eagle Materials in the fourth quarter valued at approximately $95,000. Quadrant Capital Group LLC grew its holdings in shares of Eagle Materials by 294.6% in the first quarter. Quadrant Capital Group LLC now owns 1,180 shares of the construction company’s stock valued at $97,000 after purchasing an additional 881 shares in the last quarter. Finally, Sun Life Financial INC acquired a new position in shares of Eagle Materials in the fourth quarter valued at approximately $151,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently weighed in on EXP. Berenberg Bank began coverage on shares of Eagle Materials in a research report on Wednesday, April 3rd. They set a “buy” rating and a $103.00 price target on the stock. Citigroup lifted their target price on shares of Eagle Materials from $84.00 to $87.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. TheStreet downgraded shares of Eagle Materials from a “b” rating to a “c+” rating in a research note on Friday, May 17th. Zacks Investment Research raised shares of Eagle Materials from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Macquarie set a $100.00 target price on shares of Eagle Materials and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $102.68.

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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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