Eagle Materials (NYSE:EXP) Price Target Raised to $273.00

Eagle Materials (NYSE:EXP) had its price objective hoisted by The Goldman Sachs Group from $238.00 to $273.00 in a report issued on Tuesday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the construction company’s stock.

A number of other research firms have also recently commented on EXP. Stifel Nicolaus lifted their price target on Eagle Materials from $250.00 to $300.00 and gave the stock a buy rating in a report on Monday, April 15th. JPMorgan Chase & Co. boosted their price objective on Eagle Materials from $200.00 to $265.00 and gave the stock a neutral rating in a report on Friday, March 22nd. Loop Capital upgraded Eagle Materials from a hold rating to a buy rating and boosted their price objective for the stock from $170.00 to $240.00 in a report on Monday, January 8th. Truist Financial boosted their price objective on Eagle Materials from $290.00 to $320.00 and gave the stock a buy rating in a report on Tuesday, April 2nd. Finally, Citigroup boosted their price objective on Eagle Materials from $244.00 to $311.00 and gave the stock a buy rating in a report on Friday, April 5th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $257.00.

Eagle Materials Trading Down 1.7 %

Eagle Materials stock opened at $238.19 on Tuesday. Eagle Materials has a 52 week low of $143.44 and a 52 week high of $272.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 2.61. The stock has a market capitalization of $8.21 billion, a P/E ratio of 16.81 and a beta of 1.34. The stock has a 50-day simple moving average of $255.04 and a 200 day simple moving average of $211.59.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Thursday, January 25th. The construction company reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.56 by $0.16. Eagle Materials had a return on equity of 40.05% and a net margin of 22.24%. The business had revenue of $558.83 million during the quarter, compared to analysts’ expectations of $537.23 million. Analysts expect that Eagle Materials will post 14.23 earnings per share for the current year.

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Thursday, March 14th. Eagle Materials’s dividend payout ratio (DPR) is currently 7.06%.

Insider Activity at Eagle Materials

In related news, CFO Dale Craig Kesler sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $215.60, for a total value of $1,078,000.00. Following the completion of the sale, the chief financial officer now directly owns 62,610 shares in the company, valued at $13,498,716. The sale was disclosed in a filing with the SEC, which is available at this link. In other Eagle Materials news, Director David B. Powers sold 3,347 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $240.52, for a total transaction of $805,020.44. Following the completion of the transaction, the director now directly owns 655 shares in the company, valued at $157,540.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Dale Craig Kesler sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $215.60, for a total transaction of $1,078,000.00. Following the transaction, the chief financial officer now owns 62,610 shares of the company’s stock, valued at $13,498,716. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,444 shares of company stock worth $4,414,889. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Mad River Investors acquired a new position in Eagle Materials during the first quarter valued at approximately $1,552,000. Lifestyle Asset Management Inc. acquired a new position in Eagle Materials during the first quarter valued at approximately $1,025,000. State of Michigan Retirement System raised its position in Eagle Materials by 1.2% during the first quarter. State of Michigan Retirement System now owns 8,429 shares of the construction company’s stock valued at $2,291,000 after purchasing an additional 100 shares in the last quarter. Ausbil Investment Management Ltd raised its position in Eagle Materials by 23.9% during the first quarter. Ausbil Investment Management Ltd now owns 11,485 shares of the construction company’s stock valued at $3,099,000 after purchasing an additional 2,214 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC raised its position in Eagle Materials by 3.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 1,277 shares of the construction company’s stock valued at $347,000 after purchasing an additional 45 shares in 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; 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.