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

Eagle Materials (NYSE:EXP - Free Report) had its target price upped by Stephens from $250.00 to $295.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the construction company's stock.

Several other brokerages have also commented on EXP. JPMorgan Chase & Co. upped their price target on Eagle Materials from $200.00 to $265.00 and gave the company a neutral rating in a research note on Friday, March 22nd. Stifel Nicolaus upped their target price on shares of Eagle Materials from $250.00 to $300.00 and gave the company a buy rating in a research report on Monday, April 15th. The Goldman Sachs Group lifted their price target on shares of Eagle Materials from $238.00 to $273.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Citigroup boosted their price target on shares of Eagle Materials from $244.00 to $311.00 and gave the company a buy rating in a research note on Friday, April 5th. Finally, Truist Financial increased their price objective on shares of Eagle Materials from $290.00 to $320.00 and gave the stock a buy rating in a research report on Tuesday, April 2nd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $263.50.

Eagle Materials Price Performance

NYSE:EXP traded down $0.32 during trading hours on Wednesday, reaching $253.13. 262,045 shares of the company were exchanged, compared to its average volume of 298,496. The stock's 50-day moving average is $255.27 and its 200-day moving average is $213.39. Eagle Materials has a twelve month low of $143.44 and a twelve month high of $272.72. The firm has a market cap of $8.72 billion, a PE ratio of 17.75 and a beta of 1.34. The company has a current ratio of 2.61, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

Eagle Materials (NYSE:EXP - Get Free Report) last announced its earnings results on Thursday, January 25th. The construction company reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.56 by $0.16. The company had revenue of $558.83 million for the quarter, compared to analysts' expectations of $537.23 million. Eagle Materials had a net margin of 22.24% and a return on equity of 40.05%. On average, sell-side analysts anticipate that Eagle Materials will post 14.23 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.40%. The ex-dividend date was Thursday, March 14th. Eagle Materials's payout ratio is currently 7.06%.

Insiders Place Their Bets

In related news, EVP Matt Newby sold 2,940 shares of Eagle Materials stock in a transaction on Monday, February 26th. The stock was sold at an average price of $251.15, for a total value of $738,381.00. Following the completion of the transaction, the executive vice president now directly owns 21,819 shares in the company, valued at $5,479,841.85. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Eagle Materials news, Director David B. Powers sold 3,347 shares of the company's stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $240.52, for a total value of $805,020.44. Following the completion of the transaction, the director now owns 655 shares in the company, valued at $157,540.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Matt Newby sold 2,940 shares of the firm's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $251.15, for a total value of $738,381.00. Following the transaction, the executive vice president now owns 21,819 shares in the company, valued at approximately $5,479,841.85. The disclosure for this sale can be found here. Insiders have sold a total of 19,444 shares of company stock worth $4,414,889 in the last ninety days. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eagle Materials

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC raised its holdings in Eagle Materials by 41.0% in the 3rd quarter. FMR LLC now owns 2,510,906 shares of the construction company's stock valued at $418,116,000 after acquiring an additional 730,454 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Eagle Materials by 22.8% during the third quarter. Invesco Ltd. now owns 1,097,542 shares of the construction company's stock worth $182,763,000 after purchasing an additional 203,862 shares in the last quarter. Frontier Capital Management Co. LLC boosted its holdings in Eagle Materials by 7.1% in the 4th quarter. Frontier Capital Management Co. LLC now owns 957,818 shares of the construction company's stock worth $194,284,000 after acquiring an additional 63,636 shares during the period. TD Asset Management Inc increased its stake in 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. Finally, Dimensional Fund Advisors LP increased its holdings in Eagle Materials by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 716,585 shares of the construction company's stock worth $145,356,000 after purchasing an additional 14,416 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

About Eagle Materials

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.