Eagle Materials (NYSE:EXP) Given New $250.00 Price Target at JPMorgan Chase & Co.

Eagle Materials (NYSE:EXP) had its price target reduced by JPMorgan Chase & Co. from $310.00 to $250.00 in a research note released on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the construction company’s stock.

EXP has been the topic of several other reports. Citigroup downgraded shares of Eagle Materials from a “buy” rating to a “neutral” rating and cut their price objective for the company from $334.00 to $280.00 in a research report on Monday, January 6th. DA Davidson reduced their price target on shares of Eagle Materials from $265.00 to $260.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Stifel Nicolaus began coverage on Eagle Materials in a research report on Tuesday, March 4th. They issued a “hold” rating and a $242.00 price objective on the stock. Stephens reissued an “overweight” rating and issued a $310.00 target price on shares of Eagle Materials in a report on Thursday, January 30th. Finally, Loop Capital downgraded Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price target on the stock. in a report on Monday, November 25th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Eagle Materials currently has a consensus rating of “Hold” and a consensus target price of $286.40.

Eagle Materials Price Performance

Shares of NYSE EXP opened at $218.39 on Wednesday. The company has a 50 day simple moving average of $239.45 and a two-hundred day simple moving average of $266.45. Eagle Materials has a fifty-two week low of $205.44 and a fifty-two week high of $321.93. The company has a market capitalization of $7.27 billion, a price-to-earnings ratio of 15.60 and a beta of 1.37. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 2.76.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Wednesday, January 29th. The construction company reported $3.59 earnings per share for the quarter, missing analysts’ consensus estimates of $3.97 by ($0.38). Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. Analysts expect that Eagle Materials will post 14.39 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 17th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 0.46%. Eagle Materials’s payout ratio is 7.14%.

Insider Activity

In other Eagle Materials news, Director Michael R. Nicolais acquired 310 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was purchased at an average price of $257.36 per share, with a total value of $79,781.60. Following the transaction, the director now directly owns 3,655 shares in the company, valued at approximately $940,650.80. The trade was a 9.27 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Eagle Materials

Several institutional investors and hedge funds have recently bought and sold shares of EXP. KBC Group NV raised its stake in shares of Eagle Materials by 18.6% in the third quarter. KBC Group NV now owns 965 shares of the construction company’s stock worth $278,000 after buying an additional 151 shares during the period. CIBC Asset Management Inc increased its holdings in Eagle Materials by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 1,032 shares of the construction company’s stock worth $297,000 after acquiring an additional 37 shares in the last quarter. Empowered Funds LLC raised its stake in Eagle Materials by 11.4% during the 3rd quarter. Empowered Funds LLC now owns 2,275 shares of the construction company’s stock worth $654,000 after acquiring an additional 233 shares during the period. Natixis Advisors LLC lifted its holdings in Eagle Materials by 11.8% during the third quarter. Natixis Advisors LLC now owns 27,265 shares of the construction company’s stock valued at $7,843,000 after purchasing an additional 2,871 shares in the last quarter. Finally, Caprock Group LLC bought a new position in shares of Eagle Materials in the third quarter worth approximately $208,000. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

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.