Eagle Materials (NYSE:EXP) Lowered to Hold Rating by Loop Capital

Loop Capital downgraded shares of Eagle Materials (NYSE:EXP) from a buy rating to a hold rating in a research report report published on Monday, Marketbeat Ratings reports. They currently have $315.00 target price on the construction company’s stock.

Other analysts also recently issued research reports about the stock. Truist Financial upped their price target on shares of Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Stephens lifted their target price on Eagle Materials from $280.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. increased their price target on Eagle Materials from $270.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Jefferies Financial Group upped their price objective on shares of Eagle Materials from $309.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group boosted their price target on shares of Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $304.89.

Eagle Materials Stock Up 0.4 %

EXP stock opened at $315.50 on Monday. The company’s 50 day moving average is $294.49 and its two-hundred day moving average is $259.03. Eagle Materials has a twelve month low of $177.67 and a twelve month high of $321.93. The company has a current ratio of 2.34, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. The stock has a market cap of $10.58 billion, a P/E ratio of 22.28 and a beta of 1.32.

Eagle Materials (NYSE:EXP) last released its quarterly earnings data on Tuesday, October 29th. The construction company reported $4.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.75 by ($0.44). The company had revenue of $623.62 million during the quarter, compared to analyst estimates of $651.46 million. Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.28 EPS. Research analysts expect that Eagle Materials will post 15.24 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Monday, December 16th. Eagle Materials’s dividend payout ratio (DPR) is presently 7.06%.

Insider Transactions at Eagle Materials

In other news, CEO Michael Haack sold 11,888 shares of Eagle Materials stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $310.50, for a total transaction of $3,691,224.00. Following the completion of the sale, the chief executive officer now directly owns 85,811 shares in the company, valued at $26,644,315.50. The trade was a 12.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard Ross Stewart sold 3,577 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $300.30, for a total transaction of $1,074,173.10. Following the transaction, the director now directly owns 1,100 shares in the company, valued at $330,330. The trade was a 76.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,866 shares of company stock valued at $5,482,931 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Eagle Materials

Several large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new position in Eagle Materials during the first quarter worth approximately $42,000. Bessemer Group Inc. raised its holdings in Eagle Materials by 132.7% in 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. EntryPoint Capital LLC lifted its position in Eagle Materials by 1,760.0% during the first quarter. EntryPoint Capital LLC now owns 186 shares of the construction company’s stock valued at $51,000 after buying an additional 176 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Eagle Materials by 1.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 351,258 shares of the construction company’s stock worth $95,455,000 after acquiring an additional 3,897 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in shares of Eagle Materials by 10.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,464 shares of the construction company’s stock valued at $670,000 after acquiring an additional 240 shares in the last quarter. 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, 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.