Eagle Materials (NYSE:EXP) Price Target Raised to $140.00 at JPMorgan Chase & Co.

Eagle Materials (NYSE:EXPGet Rating) had its target price raised by JPMorgan Chase & Co. from $130.00 to $140.00 in a report released on Thursday morning, The Fly reports.

EXP has been the topic of a number of other reports. StockNews.com upgraded shares of Eagle Materials from a hold rating to a buy rating in a report on Friday, July 29th. Stephens decreased their price objective on shares of Eagle Materials to $170.00 in a report on Tuesday, July 26th. Finally, Citigroup upped their price objective on shares of Eagle Materials to $146.00 in a report on Tuesday, August 9th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eagle Materials presently has a consensus rating of Moderate Buy and an average target price of $160.00.

Eagle Materials Stock Down 1.5 %

Shares of NYSE EXP opened at $108.51 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.37 and a current ratio of 2.39. Eagle Materials has a 52-week low of $105.34 and a 52-week high of $169.15. The firm has a 50 day moving average price of $122.67 and a 200 day moving average price of $123.30. The stock has a market cap of $4.09 billion, a P/E ratio of 11.26 and a beta of 1.29.

Eagle Materials (NYSE:EXPGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The construction company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.73 by $0.09. Eagle Materials had a net margin of 19.72% and a return on equity of 33.25%. The firm had revenue of $561.39 million for the quarter, compared to analyst estimates of $561.82 million. Analysts expect that Eagle Materials will post 11.45 EPS for the current year.

Eagle Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Thursday, September 15th. Eagle Materials’s dividend payout ratio is presently 10.37%.

Institutional Trading of Eagle Materials

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. increased its position in Eagle Materials by 5.1% during the 4th quarter. Invesco Ltd. now owns 1,343,963 shares of the construction company’s stock valued at $223,714,000 after purchasing an additional 65,753 shares during the period. State Street Corp grew its position in shares of Eagle Materials by 0.3% during the 1st quarter. State Street Corp now owns 1,056,912 shares of the construction company’s stock worth $135,929,000 after buying an additional 3,684 shares during the period. Victory Capital Management Inc. grew its position in shares of Eagle Materials by 40.0% during the 2nd quarter. Victory Capital Management Inc. now owns 875,680 shares of the construction company’s stock worth $96,273,000 after buying an additional 250,400 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Eagle Materials by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 597,838 shares of the construction company’s stock worth $76,744,000 after buying an additional 16,295 shares during the period. Finally, Zurich Insurance Group Ltd FI grew its position in shares of Eagle Materials by 5.6% during the 4th quarter. Zurich Insurance Group Ltd FI now owns 583,869 shares of the construction company’s stock worth $97,191,000 after buying an additional 30,935 shares during the period. Institutional investors and hedge funds own 93.41% of the company’s stock.

Eagle Materials Company Profile

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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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