UPDATE 1-Eagle Materials bows to pressure to spilt core businesses [Reuters]
Eagle Materials Inc (EXP)
Last eagle materials inc earnings: 2/4 06:30 am
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ir.eaglematerials.com/investor-relations
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Source: Reuters
Eagle Materials bows to pressure to spilt core businesses (Reuters) - Eagle Materials Inc said on Thursday its board had approved a plan to spin off its heavy materials and light materials businesses into two publicly traded entities, bowing to pressure from hedge fund Sachem Head Capital Management. The company’s shares rose 4 percent in early trading. Earlier this month, Sachem, which disclosed a 9% stake in Eagle Materials in March, urged the company to separate its cement and wallboard businesses and nominated two candidates to the company’s board. After the split, Eagle’s heavy materials business will operate as a cement company, and the light materials business will continue to make gypsum wallboard and recycled paperboard. Eagle also said it is actively pursuing alternatives for its oil and gas proppants business, after Sachem said the diversion of the company’s cash to fund its expansion into oil and gas proppants has resulted in “substantial underperformance” in its stock pri
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News
- Eagle Materials Schedules Fourth Quarter and Fiscal 2024 Earnings Release and Conference Call With Senior ManagementBusiness Wire
- How to Boost Your Portfolio with Top Construction Stocks Set to Beat Earnings [Yahoo! Finance]Yahoo! Finance
- Eagle Materials: Recovering New Home Sales And Insulation From Cement Imports Bolstering Outlook [Seeking Alpha]Seeking Alpha
- Eagle Materials Inc. (NYSE: EXP) had its price target raised by analysts at The Goldman Sachs Group, Inc. from $238.00 to $273.00. They now have a "buy" rating on the stock.MarketBeat
- Eagle Materials Inc. (NYSE: EXP) had its price target raised by analysts at Stifel Nicolaus from $250.00 to $300.00. They now have a "buy" rating on the stock.MarketBeat
EXP
Earnings
- 1/25/24 - Beat
EXP
Sec Filings
- 4/16/24 - Form 4
- 4/12/24 - Form 4
- 4/9/24 - Form 8-K
- EXP's page on the SEC website