Eagle Materials (NYSE:EXP) Rating Increased to Hold at DA Davidson

DA Davidson upgraded shares of Eagle Materials (NYSE:EXP) to a hold rating in a research report released on Monday,Zacks.com reports.

A number of other brokerages have also issued reports on EXP. Jefferies Financial Group reaffirmed a “hold” rating and issued a $200.00 target price on shares of Eagle Materials in a research report on Wednesday, May 20th. Zacks Research downgraded shares of Eagle Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Stephens boosted their target price on shares of Eagle Materials from $225.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Citigroup reduced their price target on shares of Eagle Materials from $240.00 to $232.00 and set a “neutral” rating on the stock in a research report on Monday, August 10th. Finally, Royal Bank Of Canada boosted their price objective on Eagle Materials from $208.00 to $219.00 and gave the company a “sector perform” rating in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $223.67.

Eagle Materials Stock Down 2.3%

Shares of Eagle Materials stock opened at $199.56 on Monday. The business has a 50-day moving average of $213.07 and a 200-day moving average of $208.83. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.23 and a quick ratio of 1.91. The company has a market capitalization of $6.12 billion, a PE ratio of 15.78 and a beta of 1.38. Eagle Materials has a 1-year low of $171.99 and a 1-year high of $245.53.

Eagle Materials (NYSE:EXP) last announced its earnings results on Wednesday, July 29th. The construction company reported $3.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.08). The business had revenue of $650.97 million for the quarter, compared to analysts’ expectations of $620.35 million. Eagle Materials had a return on equity of 26.87% and a net margin of 17.32%.The firm’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.76 earnings per share. As a group, equities analysts forecast that Eagle Materials will post 12.66 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Monday, September 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Eagle Materials’s dividend payout ratio is 7.91%.

Institutional Trading of Eagle Materials

Large investors have recently added to or reduced their stakes in the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Eagle Materials in the second quarter worth about $788,000. California State Teachers Retirement System boosted its holdings in shares of Eagle Materials by 21,446.1% in the second quarter. California State Teachers Retirement System now owns 8,172,000 shares of the construction company’s stock valued at $1,838,700,000 after acquiring an additional 8,134,072 shares in the last quarter. HB Wealth Management LLC increased its stake in shares of Eagle Materials by 46.0% during the second quarter. HB Wealth Management LLC now owns 2,731 shares of the construction company’s stock valued at $614,000 after acquiring an additional 860 shares during the period. AlphaGrep UK Ltd bought a new stake in Eagle Materials during the second quarter worth approximately $207,000. Finally, AXQ Capital LP acquired a new stake in Eagle Materials in the second quarter worth approximately $367,000. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Eagle Materials Company Profile

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.