Eagle Materials (NYSE:EXP) Price Target Cut to $310.00 by Analysts at Stephens

Eagle Materials (NYSE:EXP) had its price objective cut by Stephens from $325.00 to $310.00 in a report released on Wednesday,Benzinga reports. They currently have an overweight rating on the construction company’s stock.

Other equities research analysts have also recently issued reports about the company. Loop Capital cut Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price objective for the company. in a research report on Monday, November 25th. Jefferies Financial Group lowered shares of Eagle Materials from a “buy” rating to a “hold” rating and decreased their price target for the stock from $330.00 to $310.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. upped their price objective on shares of Eagle Materials from $290.00 to $310.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Truist Financial lifted their target price on Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Citigroup cut Eagle Materials from a “buy” rating to a “neutral” rating and cut their price target for the company from $334.00 to $280.00 in a report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $300.89.

Eagle Materials Stock Performance

NYSE:EXP opened at $257.96 on Wednesday. The firm has a market capitalization of $8.65 billion, a PE ratio of 18.22 and a beta of 1.37. The company has a current ratio of 2.34, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. Eagle Materials has a 1 year low of $203.98 and a 1 year high of $321.93. The firm’s fifty day simple moving average is $271.19 and its 200 day simple moving average is $268.38.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Tuesday, October 29th. The construction company reported $4.31 EPS for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.44). Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. The business had revenue of $623.62 million during the quarter, compared to the consensus estimate of $651.46 million. During the same quarter in the previous year, the firm posted $4.28 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, sell-side analysts anticipate that Eagle Materials will post 15.11 EPS for the current year.

Eagle Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 16th were paid a $0.25 dividend. The ex-dividend date was Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. Eagle Materials’s dividend payout ratio is currently 7.06%.

Insider Buying and Selling

In other Eagle Materials news, SVP Tony Thompson sold 1,401 shares of Eagle Materials stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $314.00, for a total transaction of $439,914.00. Following the completion of the transaction, the senior vice president now directly owns 13,212 shares of the company’s stock, valued at approximately $4,148,568. This trade represents a 9.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Ross Stewart sold 3,577 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $300.30, for a total transaction of $1,074,173.10. Following the completion of the sale, the director now directly owns 1,100 shares in the company, valued at approximately $330,330. The trade was a 76.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,866 shares of company stock worth $5,205,311 in the last 90 days. 1.60% of the stock is owned by company insiders.

Institutional Trading of Eagle Materials

Hedge funds have recently modified their holdings of the company. FMR LLC boosted its holdings in shares of Eagle Materials by 30.1% in the 3rd quarter. FMR LLC now owns 3,801,257 shares of the construction company’s stock worth $1,093,432,000 after acquiring an additional 878,400 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Eagle Materials by 60.3% during the third quarter. JPMorgan Chase & Co. now owns 1,735,133 shares of the construction company’s stock worth $499,111,000 after purchasing an additional 652,836 shares during the last quarter. Baupost Group LLC MA increased its stake in shares of Eagle Materials by 46.2% in the third quarter. Baupost Group LLC MA now owns 500,273 shares of the construction company’s stock valued at $143,904,000 after buying an additional 158,171 shares in the last quarter. World Investment Advisors LLC bought a new position in shares of Eagle Materials in the third quarter valued at about $34,846,000. Finally, Merewether Investment Management LP acquired a new position in Eagle Materials during the 3rd quarter worth about $22,552,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

Eagle Materials Company Profile

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.