Eagle Materials (NYSE:EXP) Given New $310.00 Price Target at Stephens

Eagle Materials (NYSE:EXP) had its price objective trimmed by Stephens from $325.00 to $310.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an overweight rating on the construction company’s stock.

A number of other research firms have also recently issued reports on EXP. Citigroup cut Eagle Materials from a “buy” rating to a “neutral” rating and cut their price target for the stock from $334.00 to $280.00 in a report on Monday, January 6th. The Goldman Sachs Group increased their price target on Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Truist Financial increased their price target on Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Loop Capital cut Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price target on the stock. in a report on Monday, November 25th. Finally, Jefferies Financial Group cut Eagle Materials from a “buy” rating to a “hold” rating and cut their price target for the stock from $330.00 to $310.00 in a report on Monday, December 16th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $300.89.

Eagle Materials Stock Performance

Shares of EXP stock opened at $262.28 on Wednesday. The business’s 50 day simple moving average is $269.51 and its 200 day simple moving average is $268.67. Eagle Materials has a one year low of $204.27 and a one year high of $321.93. The stock has a market capitalization of $8.80 billion, a PE ratio of 18.52 and a beta of 1.37. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.34 and a quick ratio of 1.14.

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

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 16th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Monday, December 16th. Eagle Materials’s payout ratio is currently 7.06%.

Insider Activity at Eagle Materials

In related news, CEO Michael Haack sold 11,888 shares of the 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 sale, the chief executive officer now directly owns 85,811 shares of the company’s stock, valued at approximately $26,644,315.50. This represents a 12.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Tony Thompson sold 1,401 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $314.00, for a total value of $439,914.00. Following the completion of the sale, the senior vice president now directly owns 13,212 shares of the company’s stock, valued at $4,148,568. The trade was a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 16,866 shares of company stock valued at $5,205,311. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Eagle Materials

Several large investors have recently made changes to their positions in EXP. CIBC Asset Management Inc boosted its stake in Eagle Materials by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 1,032 shares of the construction company’s stock worth $297,000 after purchasing an additional 37 shares during the period. Coldstream Capital Management Inc. boosted its stake in Eagle Materials by 1.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,981 shares of the construction company’s stock worth $858,000 after purchasing an additional 41 shares during the period. Financial Strategies Group Inc. boosted its stake in Eagle Materials by 4.4% in the 3rd quarter. Financial Strategies Group Inc. now owns 1,022 shares of the construction company’s stock worth $304,000 after purchasing an additional 43 shares during the period. National Bank of Canada FI boosted its stake in Eagle Materials by 1.5% in the 3rd quarter. National Bank of Canada FI now owns 3,872 shares of the construction company’s stock worth $1,114,000 after purchasing an additional 57 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Eagle Materials by 10.6% in the 4th quarter. GAMMA Investing LLC now owns 676 shares of the construction company’s stock worth $167,000 after purchasing an additional 65 shares during the period. 96.07% of the stock is owned by hedge funds and other institutional investors.

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.