Brokerages Set Eagle Materials Inc. (NYSE:EXP) Price Target at $301.44

Shares of Eagle Materials Inc. (NYSE:EXP) have earned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $300.89.

EXP has been the subject of several research reports. Citigroup cut shares of Eagle Materials from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $334.00 to $280.00 in a report on Monday, January 6th. JPMorgan Chase & Co. raised their price target 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. The Goldman Sachs Group raised their price target on shares of Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group cut shares of Eagle Materials from a “buy” rating to a “hold” rating and decreased their price target for the stock from $330.00 to $310.00 in a report on Monday, December 16th. Finally, Truist Financial lifted their target price on shares of Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, November 4th.

Insider Activity

In other news, Director Richard Ross Stewart sold 3,577 shares of Eagle Materials stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $300.30, for a total value of $1,074,173.10. Following the transaction, the director now owns 1,100 shares of the company’s stock, valued at $330,330. This trade represents a 76.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Haack sold 11,888 shares of Eagle Materials stock in a transaction that occurred 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 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 represents a 12.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,866 shares of company stock valued at $5,205,311 over the last 90 days. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eagle Materials

A number of institutional investors have recently modified their holdings of EXP. Capital Performance Advisors LLP bought a new position in Eagle Materials during the third quarter worth $64,000. Quent Capital LLC increased its position in Eagle Materials by 155.3% during the third quarter. Quent Capital LLC now owns 434 shares of the construction company’s stock worth $125,000 after acquiring an additional 264 shares during the period. GAMMA Investing LLC increased its position in Eagle Materials by 29.7% during the third quarter. GAMMA Investing LLC now owns 611 shares of the construction company’s stock worth $176,000 after acquiring an additional 140 shares during the period. Central Pacific Bank Trust Division increased its position in Eagle Materials by 23.5% during the third quarter. Central Pacific Bank Trust Division now owns 630 shares of the construction company’s stock worth $181,000 after acquiring an additional 120 shares during the period. Finally, Harvest Fund Management Co. Ltd increased its position in Eagle Materials by 789.9% during the third quarter. Harvest Fund Management Co. Ltd now owns 703 shares of the construction company’s stock worth $202,000 after acquiring an additional 624 shares during the period. Institutional investors own 96.07% of the company’s stock.

Eagle Materials Stock Performance

Eagle Materials stock opened at $257.96 on Friday. The firm’s 50 day simple moving average is $271.19 and its 200-day simple moving average is $268.38. The company has a market cap of $8.65 billion, a P/E ratio of 18.22 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 has a fifty-two week low of $203.98 and a fifty-two week high of $321.93.

Eagle Materials (NYSE:EXP) last posted its quarterly 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 for the quarter, compared to analyst estimates of $651.46 million. Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.28 earnings per share. As a group, equities research analysts predict that Eagle Materials will post 15.11 EPS for the current year.

Eagle Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 16th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend was Monday, December 16th. Eagle Materials’s dividend payout ratio is 7.06%.

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.