Shares of Eagle Materials Inc. (NYSE:EXP – Get Rating) have been assigned an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $159.09.
Several research firms have commented on EXP. The Goldman Sachs Group dropped their price objective on shares of Eagle Materials from $190.00 to $162.00 and set a “buy” rating for the company in a research note on Friday, May 20th. DA Davidson dropped their price objective on shares of Eagle Materials from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, May 20th. StockNews.com raised shares of Eagle Materials from a “hold” rating to a “buy” rating in a research note on Friday, July 29th. JPMorgan Chase & Co. lowered shares of Eagle Materials from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $165.00 to $130.00 in a research note on Wednesday, July 20th. Finally, Truist Financial dropped their price objective on shares of Eagle Materials from $172.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, May 23rd.
Eagle Materials Trading Down 4.5 %
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EXP stock opened at $122.42 on Friday. The firm has a fifty day moving average price of $120.58 and a 200 day moving average price of $126.09. Eagle Materials has a fifty-two week low of $105.34 and a fifty-two week high of $169.15. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.37 and a current ratio of 2.39. The firm has a market cap of $4.61 billion, a PE ratio of 12.70 and a beta of 1.29.
Eagle Materials Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 16th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Thursday, September 15th. Eagle Materials’s dividend payout ratio is currently 10.37%.
Insider Activity
In other news, EVP James H. Graass sold 2,856 shares of the business’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $131.02, for a total transaction of $374,193.12. Following the completion of the sale, the executive vice president now directly owns 14,294 shares of the company’s stock, valued at $1,872,799.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Ed H. Bowman, Jr. sold 1,828 shares of Eagle Materials stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $110.15, for a total value of $201,354.20. Following the completion of the sale, the director now directly owns 10,485 shares in the company, valued at $1,154,922.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James H. Graass sold 2,856 shares of Eagle Materials stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $131.02, for a total value of $374,193.12. Following the completion of the sale, the executive vice president now owns 14,294 shares of the company’s stock, valued at $1,872,799.88. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
Institutional Trading of Eagle Materials
Several institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in Eagle Materials by 453.5% in the fourth quarter. JPMorgan Chase & Co. now owns 540,436 shares of the construction company’s stock worth $89,961,000 after purchasing an additional 442,802 shares in the last quarter. Prudential Financial Inc. raised its holdings in Eagle Materials by 180.3% in the first quarter. Prudential Financial Inc. now owns 470,479 shares of the construction company’s stock worth $60,390,000 after purchasing an additional 302,625 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Eagle Materials by 40.0% in the second quarter. Victory Capital Management Inc. now owns 875,680 shares of the construction company’s stock worth $96,273,000 after purchasing an additional 250,400 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in Eagle Materials by 1,300.6% in the second quarter. Los Angeles Capital Management LLC now owns 241,319 shares of the construction company’s stock worth $26,531,000 after purchasing an additional 224,089 shares in the last quarter. Finally, Reinhart Partners Inc. bought a new position in Eagle Materials in the second quarter worth about $14,750,000. 96.87% of the stock is currently owned by institutional investors.
Eagle Materials Company Profile
Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials and light building materials in the United States. It operates through Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard segments. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland 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.
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