Eagle Materials (NYSE:EXP) Reaches New 1-Year High – Here’s Why

Shares of Eagle Materials Inc (NYSE:EXP) reached a new 52-week high on Thursday . The stock traded as high as $245.53 and last traded at $243.1550, with a volume of 47034 shares. The stock had previously closed at $233.65.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of Eagle Materials from $208.00 to $219.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 20th. Jefferies Financial Group restated a “hold” rating and set a $200.00 target price on shares of Eagle Materials in a research report on Wednesday, May 20th. Zacks Research raised shares of Eagle Materials from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Wells Fargo & Company lifted their price target on shares of Eagle Materials from $240.00 to $246.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Finally, Stephens dropped their price objective on shares of Eagle Materials from $235.00 to $225.00 and set an “equal weight” rating for the company in a report on Wednesday, May 20th. One research analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $224.30.

Eagle Materials Stock Performance

The business’s fifty day moving average price is $210.21 and its two-hundred day moving average price is $211.55. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.09 and a current ratio of 3.66. The stock has a market capitalization of $7.37 billion, a P/E ratio of 18.19 and a beta of 1.37.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Tuesday, May 19th. The construction company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.32. The firm had revenue of $479.11 million during the quarter, compared to the consensus estimate of $451.99 million. Eagle Materials had a net margin of 18.36% and a return on equity of 28.27%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.00 EPS. As a group, sell-side analysts forecast that Eagle Materials Inc will post 13.02 earnings per share for the current year.

Eagle Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, June 15th will be given a $0.25 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.4%. Eagle Materials’s dividend payout ratio (DPR) is currently 7.62%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Focus Partners Wealth lifted its stake in Eagle Materials by 21.5% in the first quarter. Focus Partners Wealth now owns 2,019 shares of the construction company’s stock worth $448,000 after purchasing an additional 357 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Eagle Materials by 102.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company’s stock worth $35,000 after buying an additional 87 shares during the period. First Trust Advisors LP increased its stake in Eagle Materials by 5.8% in the 2nd quarter. First Trust Advisors LP now owns 101,969 shares of the construction company’s stock worth $20,609,000 after buying an additional 5,612 shares during the period. Baird Financial Group Inc. lifted its holdings in Eagle Materials by 8.0% during the 2nd quarter. Baird Financial Group Inc. now owns 1,364 shares of the construction company’s stock valued at $276,000 after buying an additional 101 shares in the last quarter. Finally, Jump Financial LLC boosted its position in Eagle Materials by 359.9% in the 2nd quarter. Jump Financial LLC now owns 12,510 shares of the construction company’s stock valued at $2,528,000 after buying an additional 9,790 shares during the period. Institutional investors own 96.07% of the company’s stock.

About Eagle Materials

Eagle Materials Inc (NYSE:EXP) is a Dallas, Texas–based manufacturer of building materials serving construction and heavy industry markets across the United States. The company’s primary products include portland and masonry cements, gypsum wallboard, lightweight aggregate, paperboard packaging, and roofing granules. These product lines support a wide range of end uses—from residential and commercial buildings to infrastructure projects and industrial applications.

Since its spin-off from a major homebuilding company in 2004, Eagle Materials has grown through targeted facility expansions and strategic acquisitions.