Eagle Materials (NYSE:EXP) Price Target Cut to $260.00 by Analysts at DA Davidson

Eagle Materials (NYSE:EXP) had its price objective decreased by DA Davidson from $265.00 to $260.00 in a research note published on Thursday morning,Benzinga reports. DA Davidson currently has a neutral rating on the construction company’s stock.

A number of other brokerages also recently issued reports on EXP. Truist Financial upped their price target on Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, November 4th. Citigroup lowered shares of Eagle Materials from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $334.00 to $280.00 in a research note on Monday, January 6th. Jefferies Financial Group downgraded shares of Eagle Materials from a “buy” rating to a “hold” rating and lowered their price objective for the company from $330.00 to $310.00 in a research report on Monday, December 16th. Loop Capital downgraded shares of Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 target price for the company. in a research report on Monday, November 25th. Finally, Stephens reissued an “overweight” rating and set a $310.00 price target on shares of Eagle Materials in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $296.80.

Eagle Materials Stock Up 2.3 %

Shares of Eagle Materials stock opened at $259.48 on Thursday. Eagle Materials has a 1 year low of $211.44 and a 1 year high of $321.93. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of 18.53 and a beta of 1.37. The company has a 50-day moving average of $265.95 and a 200 day moving average of $269.68. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.34 and a quick ratio of 1.14.

Eagle Materials (NYSE:EXP) last released its earnings results on Wednesday, January 29th. The construction company reported $3.59 EPS for the quarter, missing analysts’ consensus estimates of $3.97 by ($0.38). Eagle Materials had a return on equity of 34.97% and a net margin of 20.91%. As a group, sell-side analysts anticipate that Eagle Materials will post 15.11 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 16th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. The ex-dividend date was Monday, December 16th. Eagle Materials’s dividend payout ratio is currently 7.14%.

Insiders Place Their Bets

In other news, CEO Michael Haack sold 11,888 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $310.50, for a total transaction of $3,691,224.00. Following the completion of the transaction, the chief executive officer now owns 85,811 shares in the company, valued at $26,644,315.50. This trade represents a 12.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard Ross Stewart sold 3,577 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $300.30, for a total value of $1,074,173.10. Following the completion of the sale, the director now owns 1,100 shares in the company, valued at $330,330. This represents a 76.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,866 shares of company stock worth $5,205,311 in the last three months. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eagle Materials

Several institutional investors have recently bought and sold shares of EXP. Barclays PLC raised its position in shares of Eagle Materials by 78.1% during the 3rd quarter. Barclays PLC now owns 37,948 shares of the construction company’s stock valued at $10,915,000 after buying an additional 16,645 shares in the last quarter. Ausbil Investment Management Ltd lifted its stake in shares of Eagle Materials by 400.3% in the 3rd quarter. Ausbil Investment Management Ltd now owns 12,978 shares of the construction company’s stock valued at $3,733,000 after purchasing an additional 10,384 shares during the last quarter. Baupost Group LLC MA boosted its holdings in shares of Eagle Materials by 46.2% in the 3rd quarter. Baupost Group LLC MA now owns 500,273 shares of the construction company’s stock worth $143,904,000 after purchasing an additional 158,171 shares during the period. Entropy Technologies LP bought a new position in shares of Eagle Materials during the 3rd quarter valued at approximately $920,000. Finally, Natixis Advisors LLC raised its holdings in Eagle Materials by 11.8% during the 3rd quarter. Natixis Advisors LLC now owns 27,265 shares of the construction company’s stock valued at $7,843,000 after buying an additional 2,871 shares during the period. Institutional investors own 96.07% of the company’s stock.

Eagle Materials Company Profile

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.