Stephens Raises Eagle Materials (NYSE:EXP) Price Target to $295.00

Eagle Materials (NYSE:EXP) had its target price lifted by Stephens from $250.00 to $295.00 in a research report sent to investors on Wednesday, Benzinga reports. Stephens currently has an overweight rating on the construction company’s stock.

A number of other research analysts have also recently issued reports on the company. Truist Financial lifted their price objective on Eagle Materials from $290.00 to $320.00 and gave the company a buy rating in a report on Tuesday, April 2nd. StockNews.com cut Eagle Materials from a buy rating to a hold rating in a report on Wednesday, April 10th. Loop Capital raised Eagle Materials from a hold rating to a buy rating and lifted their price objective for the company from $170.00 to $240.00 in a report on Monday, January 8th. The Goldman Sachs Group lifted their price objective on Eagle Materials from $238.00 to $273.00 and gave the company a buy rating in a report on Tuesday, April 16th. Finally, Stifel Nicolaus lifted their price objective on Eagle Materials from $250.00 to $300.00 and gave the company a buy rating in a report on Monday, April 15th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Eagle Materials has an average rating of Moderate Buy and a consensus price target of $263.50.

Eagle Materials Stock Up 1.1 %

Shares of EXP stock opened at $256.70 on Wednesday. The stock has a market cap of $8.84 billion, a P/E ratio of 18.12 and a beta of 1.34. Eagle Materials has a one year low of $143.95 and a one year high of $272.72. The stock has a fifty day moving average price of $255.73 and a 200 day moving average price of $214.56. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.61 and a quick ratio of 1.13.

Eagle Materials (NYSE:EXP) last issued its earnings results on Thursday, January 25th. The construction company reported $3.72 EPS for the quarter, topping the consensus estimate of $3.56 by $0.16. The firm had revenue of $558.83 million during 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%. Analysts predict that Eagle Materials will post 14.23 earnings per share for the current year.

Eagle Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 15th were paid a $0.25 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.39%. Eagle Materials’s dividend payout ratio (DPR) is presently 7.06%.

Insider Activity

In other news, EVP Matt Newby sold 3,165 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $223.76, for a total value of $708,200.40. Following the completion of the sale, the executive vice president now directly owns 21,819 shares in the company, valued at $4,882,219.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director David B. Powers sold 3,347 shares of Eagle Materials stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $240.52, for a total value of $805,020.44. Following the completion of the sale, the director now directly owns 655 shares in the company, valued at $157,540.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Matt Newby sold 3,165 shares of Eagle Materials stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $223.76, for a total value of $708,200.40. Following the completion of the sale, the executive vice president now owns 21,819 shares of the company’s stock, valued at $4,882,219.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,090 shares of company stock worth $2,401,577. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eagle Materials

Several institutional investors have recently modified their holdings of EXP. FMR LLC grew its position in shares of Eagle Materials by 41.0% during the 3rd quarter. FMR LLC now owns 2,510,906 shares of the construction company’s stock worth $418,116,000 after buying an additional 730,454 shares during the period. TD Asset Management Inc grew its position in shares of Eagle Materials by 261.8% during the 4th quarter. TD Asset Management Inc now owns 871,970 shares of the construction company’s stock worth $176,870,000 after buying an additional 630,964 shares during the period. William Blair Investment Management LLC grew its position in shares of Eagle Materials by 271.7% during the 3rd quarter. William Blair Investment Management LLC now owns 666,874 shares of the construction company’s stock worth $111,048,000 after buying an additional 487,454 shares during the period. Norges Bank acquired a new position in shares of Eagle Materials during the 4th quarter worth about $88,925,000. Finally, Epoch Investment Partners Inc. grew its position in shares of Eagle Materials by 133.0% during the 4th quarter. Epoch Investment Partners Inc. now owns 662,628 shares of the construction company’s stock worth $134,407,000 after buying an additional 378,296 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

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; 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.