Eagle Materials Inc. (NYSE:EXP) Receives $296.80 Consensus Target Price from Brokerages

Eagle Materials Inc. (NYSE:EXP) has been assigned a consensus recommendation of “Hold” from the ten analysts that are currently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $296.80.

Several brokerages have issued reports on EXP. The Goldman Sachs Group lifted their target price on shares of Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. DA Davidson lowered their price objective on shares of Eagle Materials from $265.00 to $260.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price objective on shares of Eagle Materials from $290.00 to $310.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Stephens restated an “overweight” rating and issued a $310.00 price objective on shares of Eagle Materials in a report on Thursday, January 30th. Finally, Truist Financial boosted their price objective on shares of Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, November 4th.

Eagle Materials Trading Up 0.8 %

Shares of Eagle Materials stock opened at $252.47 on Wednesday. Eagle Materials has a 1 year low of $211.44 and a 1 year high of $321.93. The firm has a market cap of $8.40 billion, a PE ratio of 18.03 and a beta of 1.37. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.76 and a quick ratio of 1.01. The company has a 50 day simple moving average of $254.52 and a two-hundred day simple moving average of $271.05.

Eagle Materials (NYSE:EXP) last announced its earnings results on Wednesday, January 29th. The construction company reported $3.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.97 by ($0.38). Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. Analysts expect that Eagle Materials will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 17th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.40%. Eagle Materials’s dividend payout ratio is currently 7.14%.

Insider Activity at Eagle Materials

In other Eagle Materials news, CEO Michael Haack sold 11,888 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $310.50, for a total transaction of $3,691,224.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Ross Stewart sold 3,577 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $300.30, for a total transaction of $1,074,173.10. Following the transaction, the director now directly owns 1,100 shares in the company, valued at approximately $330,330. The trade was a 76.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in EXP. FMR LLC grew its position in shares of Eagle Materials by 30.1% in the 3rd quarter. FMR LLC now owns 3,801,257 shares of the construction company’s stock worth $1,093,432,000 after buying an additional 878,400 shares during the period. JPMorgan Chase & Co. grew its position in shares of Eagle Materials by 60.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,735,133 shares of the construction company’s stock worth $499,111,000 after buying an additional 652,836 shares during the period. Norges Bank purchased a new stake in shares of Eagle Materials in the 4th quarter worth about $93,672,000. Baupost Group LLC MA grew its position in shares of Eagle Materials by 46.2% in the 3rd quarter. Baupost Group LLC MA now owns 500,273 shares of the construction company’s stock worth $143,904,000 after buying an additional 158,171 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Eagle Materials in the 4th quarter worth about $38,115,000. 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.