Eagle Materials, peers jump as Texas March cement shipments rise

|About: Eagle Materials Inc. (EXP)|By:, SA News Editor

Eagle Materials (EXP +2.4%), Vulcan Materials (VMC +2.2%) and Martin Marietta (MLM +1.4%) all enjoy sharp gains on news that Texas cement shipments rose 17% in March, breaking a four month streak of Y/Y declines.

After a stretch of wet weather, Texas precipitation in the month of March finally was average, according to Bloomberg First Word.

Texas is an important state for EXP, MLM and VMC, and the new industry numbers are helping to drive stock outperformance, says Thompson Research analyst Kathryn Thompson.