Eagle Materials Inc (NYSE:EXP) Receives Consensus Rating of “Hold” from Brokerages

Shares of Eagle Materials Inc (NYSE:EXP) have been assigned a consensus rating of “Hold” from the twelve brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $236.30.

Several research analysts have recently commented on EXP shares. Truist Financial reissued a “hold” rating and set a $210.00 price objective (down previously from $280.00) on shares of Eagle Materials in a report on Friday, December 19th. DA Davidson cut their price target on shares of Eagle Materials from $245.00 to $225.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Zacks Research lowered shares of Eagle Materials from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Wells Fargo & Company dropped their price objective on shares of Eagle Materials from $261.00 to $251.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Finally, Citigroup cut their target price on shares of Eagle Materials from $255.00 to $233.00 and set a “neutral” rating for the company in a research report on Friday, October 31st.

Eagle Materials Trading Up 2.3%

Eagle Materials stock opened at $211.40 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.22 and a current ratio of 2.72. Eagle Materials has a fifty-two week low of $191.91 and a fifty-two week high of $265.42. The stock has a market cap of $6.78 billion, a P/E ratio of 15.60 and a beta of 1.36. The firm’s fifty day moving average price is $214.87 and its 200-day moving average price is $221.79.

Eagle Materials (NYSE:EXP) last posted its earnings results on Thursday, October 30th. The construction company reported $4.23 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.12). The business had revenue of $638.91 million for the quarter, compared to analysts’ expectations of $635.55 million. Eagle Materials had a return on equity of 30.13% and a net margin of 19.41%.Eagle Materials’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.31 earnings per share. Equities research analysts forecast that Eagle Materials will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Monday, December 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, December 15th. Eagle Materials’s dividend payout ratio is presently 7.38%.

Insider Buying and Selling at Eagle Materials

In other news, Director David E. Rush acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were bought at an average cost of $208.08 per share, with a total value of $208,080.00. Following the acquisition, the director owned 4,173 shares in the company, valued at approximately $868,317.84. This represents a 31.52% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Eagle Materials

Institutional investors have recently bought and sold shares of the stock. Hudson Bay Capital Management LP increased its stake in Eagle Materials by 22.6% in the 3rd quarter. Hudson Bay Capital Management LP now owns 25,641 shares of the construction company’s stock worth $5,975,000 after purchasing an additional 4,728 shares during the period. Swiss Life Asset Management Ltd bought a new position in shares of Eagle Materials in the third quarter worth approximately $357,000. Centaurus Financial Inc. increased its stake in shares of Eagle Materials by 7.1% in the third quarter. Centaurus Financial Inc. now owns 2,503 shares of the construction company’s stock worth $583,000 after buying an additional 165 shares during the period. Danske Bank A S purchased a new position in shares of Eagle Materials in the third quarter worth $70,000. Finally, Morningstar Investment Management LLC bought a new stake in Eagle Materials during the 3rd quarter valued at $426,000. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

About Eagle Materials

Eagle Materials Inc (NYSE:EXP) is a Dallas, Texas–based manufacturer of building materials serving construction and heavy industry markets across the United States. The company’s primary products include portland and masonry cements, gypsum wallboard, lightweight aggregate, paperboard packaging, and roofing granules. These product lines support a wide range of end uses—from residential and commercial buildings to infrastructure projects and industrial applications.

Since its spin-off from a major homebuilding company in 2004, Eagle Materials has grown through targeted facility expansions and strategic acquisitions.