Stephens Raises Eagle Materials (NYSE:EXP) Price Target to $295.00

Eagle Materials (NYSE:EXP) had its price objective lifted by Stephens from $250.00 to $295.00 in a research report released on Wednesday, Benzinga reports. They currently have an overweight rating on the construction company’s stock.

EXP has been the subject of a number of other research reports. Loop Capital raised Eagle Materials from a hold rating to a buy rating and upped their price target for the stock from $170.00 to $240.00 in a research report on Monday, January 8th. Truist Financial upped their price objective on Eagle Materials from $290.00 to $320.00 and gave the stock a buy rating in a research note on Tuesday, April 2nd. StockNews.com cut Eagle Materials from a buy rating to a hold rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. upped their price objective on Eagle Materials from $200.00 to $265.00 and gave the stock a neutral rating in a research note on Friday, March 22nd. Finally, Stifel Nicolaus upped their price objective on Eagle Materials from $250.00 to $300.00 and gave the stock a buy rating in a research note on Monday, April 15th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Eagle Materials currently has an average rating of Moderate Buy and a consensus price target of $263.50.

Eagle Materials Trading Up 1.1 %

NYSE:EXP opened at $256.70 on Wednesday. Eagle Materials has a twelve month low of $143.95 and a twelve month high of $272.72. The company has a quick ratio of 1.13, a current ratio of 2.61 and a debt-to-equity ratio of 0.77. The business has a 50 day moving average price of $255.73 and a two-hundred day moving average price of $214.87. The company has a market cap of $8.84 billion, a P/E ratio of 18.12 and a beta of 1.34.

Eagle Materials (NYSE:EXP) last released its quarterly earnings results on Thursday, January 25th. The construction company reported $3.72 earnings per share 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 firm had revenue of $558.83 million during the quarter, compared to the consensus estimate of $537.23 million. As a group, analysts expect that Eagle Materials will post 14.23 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date was Thursday, March 14th. Eagle Materials’s dividend payout ratio (DPR) is presently 7.06%.

Insider Activity at Eagle Materials

In related news, SVP Tony Thompson sold 638 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $235.07, for a total value of $149,974.66. Following the sale, the senior vice president now owns 14,393 shares in the company, valued at approximately $3,383,362.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Eagle Materials news, EVP Matt Newby sold 3,165 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $223.76, for a total value of $708,200.40. Following the transaction, the executive vice president now directly owns 21,819 shares of the company’s stock, valued at approximately $4,882,219.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Tony Thompson sold 638 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $235.07, for a total value of $149,974.66. Following the completion of the transaction, the senior vice president now directly owns 14,393 shares in the company, valued at $3,383,362.51. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,090 shares of company stock worth $2,401,577. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EXP. FMR LLC grew its holdings in shares of Eagle Materials by 41.0% during the 3rd quarter. FMR LLC now owns 2,510,906 shares of the construction company’s stock worth $418,116,000 after purchasing an additional 730,454 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Eagle Materials by 261.8% during the 4th quarter. TD Asset Management Inc now owns 871,970 shares of the construction company’s stock worth $176,870,000 after purchasing an additional 630,964 shares in the last quarter. William Blair Investment Management LLC grew its holdings in shares of Eagle Materials by 271.7% during the 3rd quarter. William Blair Investment Management LLC now owns 666,874 shares of the construction company’s stock worth $111,048,000 after purchasing an additional 487,454 shares in the last quarter. Norges Bank acquired a new stake in shares of Eagle Materials during the 4th quarter worth $88,925,000. Finally, Epoch Investment Partners Inc. grew its holdings in shares of Eagle Materials by 133.0% during the 4th quarter. Epoch Investment Partners Inc. now owns 662,628 shares of the construction company’s stock worth $134,407,000 after purchasing an additional 378,296 shares in the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Eagle Materials Company Profile

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.