Eagle Materials (NYSE:EXP) Hits New 12-Month Low - Here's Why

Shares of Eagle Materials Inc (NYSE:EXP - Get Free Report) reached a new 52-week low on Wednesday . The company traded as low as $193.25 and last traded at $193.45, with a volume of 320524 shares changing hands. The stock had previously closed at $197.27.

Analyst Ratings Changes

Several research firms have recently commented on EXP. DA Davidson decreased their price objective on Eagle Materials from $260.00 to $245.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Stifel Nicolaus set a $241.00 price target on Eagle Materials and gave the company a "hold" rating in a report on Wednesday, May 21st. JPMorgan Chase & Co. cut their price target on Eagle Materials from $310.00 to $250.00 and set a "neutral" rating for the company in a report on Wednesday, March 19th. The Goldman Sachs Group set a $242.00 target price on Eagle Materials and gave the stock a "buy" rating in a report on Wednesday, May 21st. Finally, Truist Financial dropped their price objective on Eagle Materials from $330.00 to $280.00 and set a "buy" rating for the company in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $254.44.

Eagle Materials Trading Up 0.5%

The company has a current ratio of 2.73, a quick ratio of 1.03 and a debt-to-equity ratio of 0.84. The stock has a 50-day simple moving average of $215.62 and a two-hundred day simple moving average of $232.28. The firm has a market capitalization of $6.43 billion, a P/E ratio of 14.29 and a beta of 1.28.

Eagle Materials (NYSE:EXP - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The construction company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.26). The company had revenue of $470.18 million during the quarter, compared to the consensus estimate of $483.14 million. Eagle Materials had a return on equity of 32.71% and a net margin of 20.50%. The company's revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.24 earnings per share. On average, equities research analysts anticipate that Eagle Materials Inc will post 14.39 earnings per share for the current year.

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Monday, June 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Monday, June 16th. Eagle Materials's payout ratio is 7.27%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Strs Ohio acquired a new position in Eagle Materials during the 1st quarter valued at about $1,071,000. Focus Partners Wealth increased its position in Eagle Materials by 21.5% during the 1st quarter. Focus Partners Wealth now owns 2,019 shares of the construction company's stock valued at $448,000 after buying an additional 357 shares in the last quarter. United Services Automobile Association acquired a new position in Eagle Materials during the 1st quarter valued at about $481,000. Arete Wealth Advisors LLC acquired a new position in Eagle Materials during the 1st quarter valued at about $492,000. Finally, First Dallas Securities Inc. increased its position in Eagle Materials by 1.7% during the 1st quarter. First Dallas Securities Inc. now owns 15,451 shares of the construction company's stock valued at $3,429,000 after buying an additional 251 shares in the last quarter. 96.07% of the stock is 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, 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.