Stifel Nicolaus Trims Eagle Materials (NYSE:EXP) Target Price to $286.00

Eagle Materials (NYSE:EXP) had its target price lowered by Stifel Nicolaus from $300.00 to $286.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Other research analysts also recently issued research reports about the company. Raymond James boosted their target price on Eagle Materials from $170.00 to $230.00 and gave the company an outperform rating in a research note on Monday, January 29th. Truist Financial boosted their price target on Eagle Materials from $290.00 to $320.00 and gave the company a buy rating in a research note on Tuesday, April 2nd. Citigroup raised their price objective on shares of Eagle Materials from $244.00 to $311.00 and gave the company a buy rating in a research report on Friday, April 5th. Stephens boosted their target price on shares of Eagle Materials from $250.00 to $295.00 and gave the stock an overweight rating in a research report on Wednesday, April 24th. Finally, The Goldman Sachs Group raised their price target on shares of Eagle Materials from $238.00 to $273.00 and gave the company a buy rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Eagle Materials currently has an average rating of Moderate Buy and a consensus price target of $279.67.

Eagle Materials Price Performance

Shares of EXP opened at $238.16 on Wednesday. The business’s 50-day moving average is $258.13 and its 200-day moving average is $228.18. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.62 and a quick ratio of 1.13. The company has a market capitalization of $8.20 billion, a price-to-earnings ratio of 17.49 and a beta of 1.35. Eagle Materials has a fifty-two week low of $145.03 and a fifty-two week high of $276.61.

Eagle Materials (NYSE:EXP) last released its earnings results on Tuesday, May 21st. The construction company reported $2.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.48). Eagle Materials had a return on equity of 37.31% and a net margin of 21.14%. The company had revenue of $476.70 million during the quarter, compared to analysts’ expectations of $480.20 million. During the same quarter in the previous year, the company earned $2.79 EPS. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. Equities research analysts expect that Eagle Materials will post 16.01 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Monday, June 17th. Eagle Materials’s dividend payout ratio (DPR) is 7.34%.

Insider Transactions at Eagle Materials

In other Eagle Materials news, EVP Matt Newby sold 2,940 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $251.15, for a total value of $738,381.00. Following the sale, the executive vice president now owns 21,819 shares of the company’s stock, valued at approximately $5,479,841.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC increased its stake in Eagle Materials by 41.0% in the third quarter. FMR LLC now owns 2,510,906 shares of the construction company’s stock valued at $418,116,000 after acquiring an additional 730,454 shares during the period. TD Asset Management Inc increased its stake in Eagle Materials by 261.8% in the fourth quarter. TD Asset Management Inc now owns 871,970 shares of the construction company’s stock valued at $176,870,000 after acquiring an additional 630,964 shares during the period. William Blair Investment Management LLC increased its stake in Eagle Materials by 271.7% in the third quarter. William Blair Investment Management LLC now owns 666,874 shares of the construction company’s stock valued at $111,048,000 after acquiring an additional 487,454 shares during the period. Norges Bank bought a new stake in Eagle Materials in the fourth quarter valued at about $88,925,000. Finally, Epoch Investment Partners Inc. increased its stake in Eagle Materials by 133.0% in the fourth quarter. Epoch Investment Partners Inc. now owns 662,628 shares of the construction company’s stock valued at $134,407,000 after acquiring an additional 378,296 shares during the period. Institutional investors own 96.07% of the company’s stock.

About Eagle Materials

Eagle Materials Inc, through its subsidiaries, manufactures and sells heavy construction materials and light building materials in the United States. It operates in four segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland cement, including Portland limestone 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, as well as well as containerboard and lightweight packaging grades; manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and mining and sale of aggregates, such as crushed stone, sand, and gravel.