Eagle Materials Inc. shares (NYSE: EXP – Get a rating) received an average recommendation of “moderate buy” from the thirteen research companies that currently cover the stock, reports Marketbeat Ratings. Four investment analysts rated the stock with a hold recommendation and six gave the company a buy recommendation. The 12-month average target price among brokerages that have reported on the stock over the past year is $159.09.
Several research companies have commented on EXP. Goldman Sachs Group lowered its price target on Eagle Materials shares from $190.00 to $162.00 and set a “buy” rating for the company in a research note on Friday, May 20. DA Davidson lowered its price target on Eagle Materials shares from $160.00 to $145.00 and set a “neutral” rating for the company in a Friday, May 20 research note. StockNews.com moved Eagle Materials shares from a “hold” rating to a “buy” rating in a Friday, July 29 research note. JPMorgan Chase & Co. downgraded shares of Eagle Materials from an “overweight” rating to a “neutral” rating and lowered its price target for the stock from $165.00 to $130.00 in a note research on Wednesday, July 20. Finally, Truist Financial lowered its price target on Eagle Materials shares from $172.00 to $155.00 and set a “buy” rating for the company in a Monday, May 23 research note.
Eagle Materials is trading down 4.5%
EXP stock opened at $122.42 on Friday. The company has a fifty-day moving average price of $120.58 and a 200-day moving average price of $126.09. Eagle Materials has a fifty-two week low of $105.34 and a fifty-two week high of $169.15. The company has a debt ratio of 1.00, a quick ratio of 1.37 and a current ratio of 2.39. The company has a market capitalization of $4.61 billion, a PE ratio of 12.70 and a beta of 1.29.
Eagle Materials Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14. Shareholders of record on Friday, September 16 will receive a dividend of $0.25 per share. This represents a dividend of $1.00 on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Thursday, September 15. Eagle Materials’ dividend payout ratio is currently 10.37%.
In other news, EVP James H. Graass sold 2,856 shares of the company in a trade on Wednesday, June 1. The shares were sold at an average price of $131.02, for a total transaction of $374,193.12. Following the completion of the sale, the executive vice president now directly owns 14,294 shares of the company, valued at $1,872,799.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. In related news, director Ed H. Bowman, Jr. sold 1,828 shares of Eagle Materials in a trade dated Friday, June 17. The stock was sold at an average price of $110.15, for a total value of $201,354.20. Following the completion of the sale, the administrator now directly owns 10,485 shares of the company, valued at $1,154,922.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, Executive Vice President James H. Graass sold 2,856 shares of Eagle Materials in a trade dated Wednesday, June 1. The shares were sold at an average price of $131.02, for a total value of $374,193.12. Following the completion of the sale, the executive vice president now owns 14,294 shares of the company, valued at $1,872,799.88. Disclosure of this sale can be found here. Insiders hold 1.60% of the shares of the company.
Eagle Institutional Materials Trading
Several institutional investors and hedge funds have recently changed their positions in the company. JPMorgan Chase & Co. increased its stake in Eagle Materials by 453.5% in the fourth quarter. JPMorgan Chase & Co. now owns 540,436 shares of the construction company worth $89,961,000 after buying an additional 442,802 shares last quarter. Prudential Financial Inc. increased its stake in Eagle Materials by 180.3% in the first quarter. Prudential Financial Inc. now owns 470,479 shares of the construction company worth $60,390,000 after buying an additional 302,625 shares last quarter. Victory Capital Management Inc. increased its stake in Eagle Materials by 40.0% in the second quarter. Victory Capital Management Inc. now owns 875,680 shares of the construction company worth $96,273,000 after purchasing an additional 250,400 shares last quarter. Los Angeles Capital Management LLC increased its stake in Eagle Materials by 1,300.6% in the second quarter. Los Angeles Capital Management LLC now owns 241,319 shares of the construction company worth $26,531,000 after buying an additional 224,089 shares last quarter. Finally, Reinhart Partners Inc. bought a new position in Eagle Materials in the second quarter worth approximately $14,750,000. 96.87% of the shares are currently held by institutional investors.
Eagle Materials Company Profile
Eagle Materials Inc, through its subsidiaries, produces and supplies heavy building materials and light building materials in the United States. It operates through the cement, concrete and aggregates, gypsum board and recycled paperboard segments. The company is engaged in the extraction of limestone for the manufacture, production, distribution and sale of Portland cement; crushing and sale of slag; and the extraction of gypsum for the manufacture and sale of plasterboard used for finishing interior walls and ceilings in residential, commercial and industrial structures.
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