Stephens Cuts Eagle Materials (NYSE:EXP) Price Target to $310.00

Eagle Materials (NYSE:EXP) had its target price lowered by Stephens from $325.00 to $310.00 in a research note published on Wednesday morning,Benzinga reports. Stephens currently has an overweight rating on the construction company’s stock.

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

Eagle Materials Trading Up 0.0 %

EXP stock opened at $257.96 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 2.34 and a debt-to-equity ratio of 0.74. Eagle Materials has a twelve month low of $203.98 and a twelve month high of $321.93. The company has a market cap of $8.65 billion, a P/E ratio of 18.22 and a beta of 1.37. The business has a fifty day moving average of $271.19 and a 200-day moving average of $268.38.

Eagle Materials (NYSE:EXP) last released its earnings results on Tuesday, October 29th. The construction company reported $4.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 in the previous year, the company posted $4.28 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities research analysts expect that Eagle Materials will post 15.11 EPS for the current year.

Eagle Materials Dividend Announcement

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

Insider Activity

In related news, CEO Michael Haack sold 11,888 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $310.50, for a total transaction of $3,691,224.00. Following the completion of the transaction, the chief executive officer now directly owns 85,811 shares in the company, valued at approximately $26,644,315.50. This trade represents a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Tony Thompson sold 1,401 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 13,212 shares of the company’s stock, valued at $4,148,568. This represents a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,866 shares of company stock worth $5,205,311 over the last quarter. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Eagle Materials

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC grew its holdings in shares of Eagle Materials by 78.1% in the 3rd quarter. Barclays PLC now owns 37,948 shares of the construction company’s stock valued at $10,915,000 after acquiring an additional 16,645 shares in the last quarter. Ausbil Investment Management Ltd grew its stake in Eagle Materials by 400.3% in the third quarter. Ausbil Investment Management Ltd now owns 12,978 shares of the construction company’s stock valued at $3,733,000 after purchasing an additional 10,384 shares in the last quarter. Baupost Group LLC MA grew its stake in 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 purchasing an additional 158,171 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of Eagle Materials during the 3rd quarter worth approximately $920,000. Finally, Natixis Advisors LLC boosted its holdings in shares of Eagle Materials by 11.8% in the 3rd quarter. Natixis Advisors LLC now owns 27,265 shares of the construction company’s stock valued at $7,843,000 after buying an additional 2,871 shares during the last quarter. 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.