JPMorgan Chase & Co. Issues Pessimistic Forecast for Eagle Materials (NYSE:EXP) Stock Price

Eagle Materials (NYSE:EXP) had its target price trimmed by JPMorgan Chase & Co. from $310.00 to $250.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the construction company’s stock.

Other research analysts have also issued research reports about the company. Stephens restated an “overweight” rating and set a $310.00 price objective on shares of Eagle Materials in a research report on Thursday, January 30th. Loop Capital cut Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price target for the company. in a report on Monday, November 25th. Stifel Nicolaus initiated coverage on Eagle Materials in a research note on Tuesday, March 4th. They issued a “hold” rating and a $242.00 price objective on the stock. Citigroup downgraded shares of Eagle Materials from a “buy” rating to a “neutral” rating and decreased their price target for the company from $334.00 to $280.00 in a research note on Monday, January 6th. Finally, Jefferies Financial Group cut shares of Eagle Materials from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $330.00 to $310.00 in a research note on Monday, December 16th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $286.40.

Eagle Materials Stock Up 1.5 %

Shares of EXP opened at $218.39 on Wednesday. The business’s 50 day moving average is $239.45 and its 200 day moving average is $266.45. The company has a current ratio of 2.76, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. Eagle Materials has a 12-month low of $205.44 and a 12-month high of $321.93. The company has a market capitalization of $7.27 billion, a PE ratio of 15.60 and a beta of 1.37.

Eagle Materials (NYSE:EXP) last released its quarterly earnings data on Wednesday, January 29th. The construction company reported $3.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.97 by ($0.38). Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. Research analysts expect that Eagle Materials will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 17th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. Eagle Materials’s dividend payout ratio is presently 7.14%.

Insider Activity at Eagle Materials

In other Eagle Materials news, Director Michael R. Nicolais bought 310 shares of the company’s stock in a transaction on Monday, February 10th. The stock was acquired at an average price of $257.36 per share, for a total transaction of $79,781.60. Following the completion of the transaction, the director now directly owns 3,655 shares of the company’s stock, valued at approximately $940,650.80. This represents a 9.27 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eagle Materials

Hedge funds and other institutional investors have recently modified their holdings of the business. CIBC Asset Management Inc boosted its holdings in Eagle Materials by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 1,032 shares of the construction company’s stock valued at $297,000 after acquiring an additional 37 shares during the period. Coldstream Capital Management Inc. lifted its position in shares of Eagle Materials by 1.4% during the third quarter. Coldstream Capital Management Inc. now owns 2,981 shares of the construction company’s stock worth $858,000 after purchasing an additional 41 shares during the last quarter. Sprott Inc. boosted its stake in shares of Eagle Materials by 3.0% during the fourth quarter. Sprott Inc. now owns 1,695 shares of the construction company’s stock valued at $418,000 after purchasing an additional 50 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Eagle Materials by 6.0% in the fourth quarter. Hsbc Holdings PLC now owns 973 shares of the construction company’s stock worth $240,000 after purchasing an additional 55 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in Eagle Materials by 10.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 569 shares of the construction company’s stock worth $140,000 after buying an additional 56 shares during the period. 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.