Jefferies Financial Group Downgrades Eagle Materials (NYSE:EXP) to Hold

Jefferies Financial Group lowered shares of Eagle Materials (NYSE:EXP) from a buy rating to a hold rating in a research note published on Monday morning, Marketbeat Ratings reports. They currently have $310.00 price objective on the construction company’s stock, down from their prior price objective of $330.00.

Other equities research analysts also recently issued reports about the company. The Goldman Sachs Group increased their price target on Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Truist Financial upped their price target on Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. raised their target price on shares of Eagle Materials from $290.00 to $310.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Finally, Loop Capital cut Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price target for the company. in a report on Monday, November 25th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Eagle Materials presently has a consensus rating of “Moderate Buy” and an average target price of $304.89.

Eagle Materials Stock Performance

Shares of Eagle Materials stock opened at $257.10 on Monday. The company has a quick ratio of 1.14, a current ratio of 2.34 and a debt-to-equity ratio of 0.74. The firm’s 50 day moving average is $295.70 and its two-hundred day moving average is $263.85. The firm has a market capitalization of $8.62 billion, a P/E ratio of 18.16 and a beta of 1.33. Eagle Materials has a 52 week low of $195.93 and a 52 week high of $321.93.

Eagle Materials (NYSE:EXP) last released its quarterly earnings results on Tuesday, October 29th. The construction company reported $4.31 EPS for the quarter, missing the consensus estimate of $4.75 by ($0.44). The firm had revenue of $623.62 million for the quarter, compared to analyst estimates of $651.46 million. Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm earned $4.28 EPS. Research analysts forecast that Eagle Materials will post 15.24 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 16th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Monday, December 16th. Eagle Materials’s dividend payout ratio is currently 7.06%.

Insiders Place Their Bets

In related news, SVP Tony Thompson sold 1,401 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $314.00, for a total value of $439,914.00. Following the completion of the sale, the senior vice president now owns 13,212 shares in the company, valued at approximately $4,148,568. This represents a 9.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Haack sold 11,888 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $310.50, for a total value of $3,691,224.00. Following the completion of the sale, the chief executive officer now directly owns 85,811 shares of the company’s stock, valued at approximately $26,644,315.50. This trade represents a 12.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,866 shares of company stock worth $5,205,311 over the last ninety days. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Eagle Materials

A number of large investors have recently made changes to their positions in EXP. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Eagle Materials by 481.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,315 shares of the construction company’s stock valued at $1,808,000 after buying an additional 6,885 shares during the period. Blue Trust Inc. lifted its holdings in shares of Eagle Materials by 22.5% during the second quarter. Blue Trust Inc. now owns 680 shares of the construction company’s stock worth $148,000 after buying an additional 125 shares during the last quarter. Raymond James & Associates boosted its holdings in Eagle Materials by 2.7% in the 2nd quarter. Raymond James & Associates now owns 70,692 shares of the construction company’s stock valued at $15,373,000 after purchasing an additional 1,885 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Eagle Materials by 54.5% in the second quarter. Nisa Investment Advisors LLC now owns 26,456 shares of the construction company’s stock valued at $5,761,000 after buying an additional 9,328 shares during the period. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of Eagle Materials during the 2nd quarter worth approximately $235,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

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.