Eagle Materials (NYSE:EXP) Price Target Raised to $273.00 at The Goldman Sachs Group

Eagle Materials (NYSE:EXP) had its price objective upped by The Goldman Sachs Group from $238.00 to $273.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

A number of other research firms have also recently commented on EXP. Stifel Nicolaus increased their target price on Eagle Materials from $250.00 to $300.00 and gave the company a buy rating in a research note on Monday. Truist Financial raised their price objective on Eagle Materials from $290.00 to $320.00 and gave the company a buy rating in a research note on Tuesday, April 2nd. Citigroup raised their price objective on Eagle Materials from $244.00 to $311.00 and gave the company a buy rating in a research note on Friday, April 5th. JPMorgan Chase & Co. raised their price objective on Eagle Materials from $200.00 to $265.00 and gave the company a neutral rating in a research note on Friday, March 22nd. Finally, StockNews.com cut Eagle Materials from a buy rating to a hold rating in a research note on Wednesday, April 10th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $257.00.

Eagle Materials Stock Down 0.4 %

EXP opened at $248.89 on Tuesday. The stock has a market cap of $8.57 billion, a PE ratio of 17.56 and a beta of 1.34. The company has a quick ratio of 1.13, a current ratio of 2.61 and a debt-to-equity ratio of 0.77. Eagle Materials has a 52 week low of $142.12 and a 52 week high of $272.72. The business’s fifty day simple moving average is $255.08 and its 200 day simple moving average is $210.62.

Eagle Materials (NYSE:EXP) last released its earnings results on Thursday, January 25th. The construction company reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.56 by $0.16. The business had revenue of $558.83 million for the quarter, compared to analysts’ expectations of $537.23 million. Eagle Materials had a return on equity of 40.05% and a net margin of 22.24%. As a group, research analysts expect that Eagle Materials will post 14.29 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 15th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.40%. Eagle Materials’s dividend payout ratio is currently 7.06%.

Insider Transactions at Eagle Materials

In other news, EVP Matt Newby sold 2,940 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $251.15, for a total transaction of $738,381.00. Following the completion of the sale, the executive vice president now directly owns 21,819 shares in the company, valued at $5,479,841.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Matt Newby sold 2,940 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $251.15, for a total transaction of $738,381.00. Following the completion of the sale, the executive vice president now directly owns 21,819 shares in the company, valued at $5,479,841.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Dale Craig Kesler sold 5,000 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $215.60, for a total transaction of $1,078,000.00. Following the sale, the chief financial officer now owns 62,610 shares of the company’s stock, valued at $13,498,716. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,444 shares of company stock worth $4,414,889. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Eagle Materials

Several institutional investors and hedge funds have recently bought and sold shares of EXP. Larson Financial Group LLC purchased a new stake in Eagle Materials in the third quarter worth about $25,000. Dark Forest Capital Management LP purchased a new stake in Eagle Materials in the first quarter worth about $26,000. Tompkins Financial Corp purchased a new stake in Eagle Materials in the first quarter worth about $27,000. Rise Advisors LLC purchased a new stake in Eagle Materials in the first quarter worth about $27,000. Finally, Global Wealth Management Investment Advisory Inc. purchased a new stake in Eagle Materials in the fourth quarter worth about $30,000. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

About Eagle Materials

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; 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.