Eagle Materials (NYSE:EXP) Price Target Raised to $290.00

Eagle Materials (NYSE:EXP) had its target price increased by JPMorgan Chase & Co. from $270.00 to $290.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the construction company’s stock.

Other analysts also recently issued research reports about the stock. Jefferies Financial Group boosted their price objective on shares of Eagle Materials from $270.00 to $283.00 and gave the stock a buy rating in a research report on Wednesday, July 17th. Citigroup upped their price objective on shares of Eagle Materials from $252.00 to $311.00 and gave the company a buy rating in a research note on Thursday, August 1st. Stephens raised their price objective on Eagle Materials from $280.00 to $315.00 and gave the stock an overweight rating in a report on Thursday, August 1st. Finally, Raymond James downgraded Eagle Materials from a moderate buy rating to a hold rating in a report on Wednesday, July 17th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $297.78.

Eagle Materials Stock Up 0.9 %

Eagle Materials stock opened at $291.93 on Wednesday. The stock has a market cap of $9.88 billion, a PE ratio of 21.43 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 stock’s fifty day moving average is $264.53 and its two-hundred day moving average is $250.09. Eagle Materials has a 1-year low of $145.03 and a 1-year high of $295.34.

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

Eagle Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Tuesday, September 17th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.34%. The ex-dividend date is Tuesday, September 17th. Eagle Materials’s dividend payout ratio is presently 7.34%.

Insiders Place Their Bets

In other news, CFO Dale Craig Kesler sold 5,000 shares of the company’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 sale, the chief financial officer now owns 60,488 shares in the company, valued at $16,135,778.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Eric Cribbs sold 1,851 shares of Eagle Materials stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $277.06, for a total value of $512,838.06. Following the sale, the insider now owns 13,937 shares of the company’s stock, valued at $3,861,385.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dale Craig Kesler sold 5,000 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 60,488 shares in the company, valued at approximately $16,135,778.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,851 shares of company stock valued at $2,124,258. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Eagle Materials

A number of institutional investors have recently added to or reduced their stakes in the business. Eagle Bay Advisors LLC lifted its holdings in shares of Eagle Materials by 79.2% in the 1st quarter. Eagle Bay Advisors LLC now owns 95 shares of the construction company’s stock valued at $26,000 after buying an additional 42 shares during the period. Rise Advisors LLC purchased a new position in Eagle Materials in the first quarter worth $27,000. Tompkins Financial Corp acquired a new stake in Eagle Materials in the first quarter valued at $27,000. Bessemer Group Inc. boosted its position in shares of Eagle Materials by 132.7% during the 1st quarter. Bessemer Group Inc. now owns 114 shares of the construction company’s stock worth $31,000 after purchasing an additional 65 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Eagle Materials during the 1st quarter worth $42,000. Hedge funds and other 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.