Stifel Nicolaus Lowers Eagle Materials (NYSE:EXP) Price Target to $286.00

Eagle Materials (NYSE:EXP) had its target price lowered by Stifel Nicolaus from $300.00 to $286.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Other equities analysts also recently issued reports about the company. Raymond James increased their target price on Eagle Materials from $170.00 to $230.00 and gave the stock an outperform rating in a research report on Monday, January 29th. Citigroup upped their price target on Eagle Materials from $244.00 to $311.00 and gave the stock a buy rating in a research note on Friday, April 5th. Truist Financial upped their price target on Eagle Materials from $290.00 to $320.00 and gave the stock a buy rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. upped their price target 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, The Goldman Sachs Group upped their price target on Eagle Materials from $238.00 to $273.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $279.67.

Eagle Materials Stock Performance

NYSE EXP opened at $238.27 on Wednesday. The business’s 50-day moving average price is $258.13 and its 200 day moving average price is $228.63. Eagle Materials has a twelve month low of $145.03 and a twelve month high of $276.61. The company has a market capitalization of $8.08 billion, a PE ratio of 17.49 and a beta of 1.35. The company has a current ratio of 2.62, a quick ratio of 1.13 and a debt-to-equity ratio of 0.83.

Eagle Materials (NYSE:EXP) last released its earnings results on Tuesday, May 21st. The construction company reported $2.24 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.48). Eagle Materials had a return on equity of 37.31% and a net margin of 21.14%. The business had revenue of $476.70 million for the quarter, compared to analysts’ expectations of $480.20 million. During the same quarter last year, the company posted $2.79 earnings per share. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, research analysts predict that Eagle Materials will post 15.95 earnings per share for the current year.

Eagle Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. Eagle Materials’s payout ratio is currently 7.34%.

Insider Activity at Eagle Materials

In related news, EVP Matt Newby sold 2,940 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $251.15, for a total transaction of $738,381.00. Following the sale, the executive vice president now directly owns 21,819 shares in the company, valued at approximately $5,479,841.85. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Eagle Materials

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Cetera Advisors LLC purchased a new stake in Eagle Materials during the 1st quarter worth approximately $461,000. Cetera Investment Advisers increased its holdings in Eagle Materials by 294.1% during the 1st quarter. Cetera Investment Advisers now owns 7,070 shares of the construction company’s stock worth $1,921,000 after purchasing an additional 5,276 shares during the last quarter. Comerica Bank increased its holdings in Eagle Materials by 94.8% during the 1st quarter. Comerica Bank now owns 32,772 shares of the construction company’s stock worth $8,906,000 after purchasing an additional 15,949 shares during the last quarter. Hancock Whitney Corp purchased a new stake in Eagle Materials during the 1st quarter worth approximately $586,000. Finally, Castleark Management LLC grew its position in shares of Eagle Materials by 10.5% in the 1st quarter. Castleark Management LLC now owns 21,860 shares of the construction company’s stock worth $5,940,000 after acquiring an additional 2,080 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

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, 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.