Eagle Materials (NYSE:EXP) Rating Lowered to “Hold” at Loop Capital

Loop Capital cut shares of Eagle Materials (NYSE:EXP) from a buy rating to a hold rating in a research report sent to investors on Monday, MarketBeat.com reports. Loop Capital currently has $315.00 target price on the construction company’s stock.

EXP has been the topic of several other reports. JPMorgan Chase & Co. upped their price objective on Eagle Materials from $270.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Citigroup increased their price objective on Eagle Materials from $252.00 to $311.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Truist Financial lifted their price objective on Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, November 4th. Jefferies Financial Group upped their target price on shares of Eagle Materials from $309.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Stephens increased their target price on shares of Eagle Materials from $280.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $307.11.

Eagle Materials Trading Down 1.3 %

Shares of Eagle Materials stock opened at $305.93 on Monday. Eagle Materials has a 52-week low of $177.67 and a 52-week high of $321.93. The firm has a market capitalization of $10.26 billion, a PE ratio of 21.61 and a beta of 1.32. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.34 and a quick ratio of 1.14. The company’s fifty day moving average price is $295.52 and its two-hundred day moving average price is $259.65.

Eagle Materials (NYSE:EXP) last issued its earnings results on Tuesday, October 29th. The construction company reported $4.31 earnings per share for the quarter, missing the consensus estimate of $4.75 by ($0.44). Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. The business had revenue of $623.62 million for the quarter, compared to analyst estimates of $651.46 million. During the same quarter last year, the firm posted $4.28 earnings per share. Eagle Materials’s revenue was up .2% on a year-over-year basis. On average, analysts expect that Eagle Materials will post 15.24 EPS for the current year.

Eagle Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.33%. Eagle Materials’s payout ratio is 7.06%.

Insiders Place Their Bets

In other Eagle Materials news, Director George John Damiris sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $277.62, for a total transaction of $277,620.00. Following the completion of the sale, the director now owns 7,943 shares in the company, valued at approximately $2,205,135.66. The trade was a 11.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Haack sold 11,888 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $310.50, for a total value of $3,691,224.00. Following the completion of the transaction, the chief executive officer now owns 85,811 shares in the company, valued at $26,644,315.50. This represents a 12.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 17,866 shares of company stock valued at $5,482,931. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Eagle Materials

A number of hedge funds have recently modified their holdings of the company. FMR LLC grew its holdings in Eagle Materials by 30.1% during the third quarter. FMR LLC now owns 3,801,257 shares of the construction company’s stock valued at $1,093,432,000 after purchasing an additional 878,400 shares during the period. Epoch Investment Partners Inc. increased its position in shares of Eagle Materials by 25.2% in the 2nd quarter. Epoch Investment Partners Inc. now owns 805,257 shares of the construction company’s stock valued at $175,111,000 after buying an additional 162,049 shares in the last quarter. Baupost Group LLC MA raised its stake in Eagle Materials by 46.2% during the 3rd quarter. Baupost Group LLC MA now owns 500,273 shares of the construction company’s stock worth $143,904,000 after buying an additional 158,171 shares during the period. Federated Hermes Inc. lifted its holdings in Eagle Materials by 33.4% during the second quarter. Federated Hermes Inc. now owns 529,701 shares of the construction company’s stock worth $115,189,000 after acquiring an additional 132,677 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new position in Eagle Materials in the third quarter valued at about $34,846,000. 96.07% of the stock is currently owned by institutional investors and hedge funds.

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.