Loop Capital Downgrades Eagle Materials (NYSE:EXP) to Hold

Loop Capital downgraded shares of Eagle Materials (NYSE:EXP) from a buy rating to a hold rating in a research report released on Monday, Marketbeat Ratings reports. The firm currently has $315.00 price objective on the construction company’s stock.

Several other research firms have also recently weighed in on EXP. Jefferies Financial Group upped their price target on shares of Eagle Materials from $309.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on Eagle Materials from $270.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Truist Financial boosted their price target on Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, November 4th. Citigroup lifted their target price on Eagle Materials from $252.00 to $311.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Stephens upped their price target on Eagle Materials from $280.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Eagle Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.11.

Eagle Materials Stock Performance

Shares of Eagle Materials stock opened at $305.93 on Monday. Eagle Materials has a 52 week low of $177.67 and a 52 week high of $321.93. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 2.34. The stock has a market capitalization of $10.26 billion, a price-to-earnings ratio of 21.57 and a beta of 1.32. The firm has a fifty day moving average of $295.08 and a two-hundred day moving average of $259.32.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings data 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). The firm had revenue of $623.62 million for the quarter, compared to analyst estimates of $651.46 million. Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.28 EPS. As a group, equities research analysts predict that Eagle Materials will post 15.24 EPS for the current year.

Eagle Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.33%. The ex-dividend date is Monday, December 16th. Eagle Materials’s dividend payout ratio (DPR) is currently 7.06%.

Insider Buying and Selling at Eagle Materials

In other Eagle Materials news, CEO Michael Haack sold 11,888 shares of Eagle Materials stock in a transaction on Friday, November 22nd. The shares were 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. The trade was a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Tony Thompson sold 1,401 shares of the business’s stock in a transaction dated 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 quarter, insiders have sold 17,866 shares of company stock worth $5,482,931. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Eagle Materials

Several large investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. increased its stake in Eagle Materials by 132.7% in the 1st quarter. Bessemer Group Inc. now owns 114 shares of the construction company’s stock valued at $31,000 after buying an additional 65 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Eagle Materials during the first quarter valued at approximately $42,000. McClarren Financial Advisors Inc. lifted its holdings in Eagle Materials by 10,750.0% during the second quarter. McClarren Financial Advisors Inc. now owns 217 shares of the construction company’s stock worth $47,000 after acquiring an additional 215 shares during the period. EntryPoint Capital LLC boosted its position in Eagle Materials by 1,760.0% in the first quarter. EntryPoint Capital LLC now owns 186 shares of the construction company’s stock worth $51,000 after purchasing an additional 176 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in Eagle Materials in the 3rd quarter valued at $64,000. 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.