Eagle Materials (NYSE:EXP) PT Raised to $330.00

Eagle Materials (NYSE:EXP) had its price target increased by Jefferies Financial Group from $309.00 to $330.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Other analysts have also issued research reports about the company. Citigroup upped their target price on Eagle Materials from $252.00 to $311.00 and gave the stock a buy rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. increased their target price on shares of Eagle Materials from $270.00 to $290.00 and gave the company a neutral rating in a report on Wednesday. Stephens upped their price target on shares of Eagle Materials from $280.00 to $315.00 and gave the company an overweight rating in a research report on Thursday, August 1st. Finally, Raymond James downgraded Eagle Materials from a moderate buy rating to a hold rating in a report on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Eagle Materials has an average rating of Moderate Buy and an average target price of $297.78.

Eagle Materials Stock Performance

Shares of EXP stock opened at $291.93 on Wednesday. The stock has a market capitalization of $9.88 billion, a P/E ratio of 21.43 and a beta of 1.32. The company has a current ratio of 2.45, a quick ratio of 1.17 and a debt-to-equity ratio of 0.81. The firm’s 50 day moving average is $264.53 and its 200 day moving average is $250.09. Eagle Materials has a 12 month low of $145.03 and a 12 month high of $295.34.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $3.94 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.37. The company had revenue of $608.69 million for the quarter, compared to analysts’ expectations of $622.06 million. Eagle Materials had a net margin of 21.65% and a return on equity of 37.10%. Eagle Materials’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.55 EPS. On average, sell-side analysts anticipate that Eagle Materials will post 15.9 earnings per share for the current year.

Eagle Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Tuesday, September 17th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.34%. Eagle Materials’s dividend payout ratio is presently 7.34%.

Insiders Place Their Bets

In other news, CFO Dale Craig Kesler sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $266.76, for a total transaction of $1,333,800.00. Following the transaction, the chief financial officer now directly owns 60,488 shares of the company’s stock, valued at approximately $16,135,778.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director George John Damiris sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $277.62, for a total value of $277,620.00. Following the completion of the sale, the director now owns 7,943 shares of the company’s stock, valued at $2,205,135.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Dale Craig Kesler sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $266.76, for a total value of $1,333,800.00. Following the completion of the sale, the chief financial officer now directly owns 60,488 shares of the company’s stock, valued at $16,135,778.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,851 shares of company stock worth $2,124,258. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of Eagle Materials

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EXP. Eagle Bay Advisors LLC lifted its stake in Eagle Materials by 79.2% in the first quarter. Eagle Bay Advisors LLC now owns 95 shares of the construction company’s stock worth $26,000 after acquiring an additional 42 shares during the period. Rise Advisors LLC purchased a new position in Eagle Materials during the first quarter valued at $27,000. Tompkins Financial Corp purchased a new position in Eagle Materials during the first quarter valued at $27,000. Bessemer Group Inc. lifted its position in Eagle Materials by 132.7% during the first quarter. Bessemer Group Inc. now owns 114 shares of the construction company’s stock valued at $31,000 after buying an additional 65 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in Eagle Materials during the first quarter valued at $42,000. Hedge funds and other institutional investors own 96.07% of the company’s stock.

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.