Eagle Materials (NYSE:EXP) Downgraded by JPMorgan Chase & Co. to Neutral

JPMorgan Chase & Co. downgraded shares of Eagle Materials (NYSE:EXPGet Rating) from an overweight rating to a neutral rating in a research note released on Wednesday, The Fly reports. The brokerage currently has $130.00 price target on the construction company’s stock, down from their previous price target of $165.00.

Several other analysts have also recently commented on the company. DA Davidson decreased their target price on Eagle Materials from $160.00 to $145.00 and set a neutral rating for the company in a research report on Friday, May 20th. Truist Financial decreased their target price on Eagle Materials from $172.00 to $155.00 and set a buy rating for the company in a research report on Monday, May 23rd. StockNews.com cut Eagle Materials from a buy rating to a hold rating in a research report on Friday, July 15th. Finally, The Goldman Sachs Group reduced their price objective on Eagle Materials from $190.00 to $162.00 and set a buy rating for the company in a research report on Friday, May 20th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Eagle Materials presently has an average rating of Moderate Buy and an average target price of $163.09.

Eagle Materials Price Performance

NYSE EXP opened at $121.56 on Wednesday. The business’s fifty day moving average is $119.69 and its two-hundred day moving average is $129.81. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.99 and a current ratio of 2.13. Eagle Materials has a 1 year low of $105.34 and a 1 year high of $169.15. The stock has a market capitalization of $4.63 billion, a P/E ratio of 13.30 and a beta of 1.27.

Eagle Materials (NYSE:EXPGet Rating) last issued its earnings results on Thursday, May 19th. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.74 by $0.16. The business had revenue of $413.10 million during the quarter, compared to analysts’ expectations of $400.68 million. Eagle Materials had a return on equity of 30.51% and a net margin of 20.10%. Eagle Materials’s revenue was up 20.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.56 earnings per share. On average, research analysts forecast that Eagle Materials will post 11.36 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 16th were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, June 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.82%. Eagle Materials’s dividend payout ratio is currently 10.94%.

Insider Transactions at Eagle Materials

In other news, EVP James H. Graass sold 9,092 shares of Eagle Materials stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $125.02, for a total value of $1,136,681.84. Following the transaction, the executive vice president now directly owns 20,090 shares in the company, valued at $2,511,651.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP James H. Graass sold 9,092 shares of the business’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $125.02, for a total transaction of $1,136,681.84. Following the transaction, the executive vice president now directly owns 20,090 shares in the company, valued at $2,511,651.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ed H. Bowman, Jr. sold 1,828 shares of the business’s stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $110.15, for a total value of $201,354.20. Following the transaction, the director now owns 10,485 shares in the company, valued at $1,154,922.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,776 shares of company stock worth $2,214,229. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Eagle Materials

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC acquired a new stake in Eagle Materials during the fourth quarter valued at approximately $26,000. CWM LLC acquired a new stake in Eagle Materials during the fourth quarter valued at approximately $34,000. Prospera Financial Services Inc acquired a new stake in Eagle Materials during the first quarter valued at approximately $42,000. Meeder Asset Management Inc. boosted its holdings in Eagle Materials by 90.9% during the first quarter. Meeder Asset Management Inc. now owns 462 shares of the construction company’s stock valued at $60,000 after purchasing an additional 220 shares in the last quarter. Finally, PFG Private Wealth Management LLC acquired a new position in shares of Eagle Materials in the 4th quarter worth approximately $95,000. 96.87% of the stock is currently owned by institutional investors.

Eagle Materials Company Profile

(Get Rating)

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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