Eagle Materials (NYSE:EXP) Hits New 1-Year High at $279.71

Eagle Materials Inc. (NYSE:EXP) reached a new 52-week high on Monday . The stock traded as high as $279.71 and last traded at $278.79, with a volume of 256032 shares trading hands. The stock had previously closed at $270.68.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Stephens raised their target price on Eagle Materials from $280.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Citigroup raised their price target on Eagle Materials from $252.00 to $311.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. StockNews.com downgraded Eagle Materials from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Stifel Nicolaus lowered their price target on Eagle Materials from $300.00 to $286.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Finally, Jefferies Financial Group raised their price target on Eagle Materials from $270.00 to $283.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $289.78.

Eagle Materials Trading Up 2.9 %

The stock has a market cap of $9.43 billion, a P/E ratio of 20.03 and a beta of 1.32. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.45 and a quick ratio of 1.17. The business’s 50 day simple moving average is $245.27 and its 200 day simple moving average is $246.00.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $3.94 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.37. The firm had revenue of $608.69 million during the quarter, compared to analysts’ expectations of $622.06 million. Eagle Materials had a net margin of 21.65% and a return on equity of 37.10%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $3.55 earnings per share. On average, analysts expect that Eagle Materials Inc. will post 15.9 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Tuesday, September 17th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend is Tuesday, September 17th. Eagle Materials’s dividend payout ratio (DPR) is currently 7.34%.

Insider Activity

In other news, insider Eric Cribbs sold 1,851 shares of Eagle Materials stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $277.06, for a total value of $512,838.06. Following the completion of the transaction, the insider now owns 13,937 shares in the company, valued at $3,861,385.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Eric Cribbs sold 1,851 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $277.06, for a total value of $512,838.06. Following the completion of the transaction, the insider now owns 13,937 shares in the company, valued at approximately $3,861,385.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dale Craig Kesler sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $266.76, for a total transaction of $1,333,800.00. Following the completion of the transaction, the chief financial officer now owns 60,488 shares of the company’s stock, valued at approximately $16,135,778.88. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC bought a new position in Eagle Materials in the 2nd quarter worth approximately $523,000. Dana Investment Advisors Inc. grew its holdings in Eagle Materials by 5.6% during the 2nd quarter. Dana Investment Advisors Inc. now owns 5,931 shares of the construction company’s stock worth $1,290,000 after acquiring an additional 315 shares during the period. Delphi Management Inc. MA grew its holdings in Eagle Materials by 6.9% during the 2nd quarter. Delphi Management Inc. MA now owns 7,808 shares of the construction company’s stock worth $1,698,000 after acquiring an additional 503 shares during the period. Millennium Management LLC grew its holdings in Eagle Materials by 1,433.5% during the 2nd quarter. Millennium Management LLC now owns 15,320 shares of the construction company’s stock worth $3,331,000 after acquiring an additional 14,321 shares during the period. Finally, Alpha DNA Investment Management LLC grew its holdings in Eagle Materials by 22.4% during the 2nd quarter. Alpha DNA Investment Management LLC now owns 1,724 shares of the construction company’s stock worth $375,000 after acquiring an additional 316 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.