Eagle Materials (NYSE:EXP) Hits New 1-Year High – Here’s Why

Shares of Eagle Materials Inc. (NYSE:EXP) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $320.00 and last traded at $319.30, with a volume of 123345 shares trading hands. The stock had previously closed at $314.35.

Analysts Set New Price Targets

Several equities analysts recently weighed in on EXP shares. Truist Financial boosted their price objective on Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Citigroup upped their price target on Eagle Materials from $252.00 to $311.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. raised their price objective on shares of Eagle Materials from $290.00 to $310.00 and gave the stock a “neutral” rating in a research note on Wednesday. The Goldman Sachs Group upped their target price on shares of Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Loop Capital downgraded shares of 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. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Eagle Materials has a consensus rating of “Moderate Buy” and an average price target of $307.11.

Eagle Materials Stock Down 1.3 %

The company has a current ratio of 2.34, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. The business’s fifty day moving average price is $295.08 and its 200 day moving average price is $259.32. The company has a market capitalization of $10.26 billion, a P/E ratio of 21.57 and a beta of 1.32.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $4.31 EPS for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.44). Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. The business had revenue of $623.62 million for the quarter, compared to the consensus estimate of $651.46 million. During the same quarter in the prior year, the business earned $4.28 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities research analysts predict that Eagle Materials Inc. will post 15.24 earnings per share 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. Shareholders of record on Monday, December 16th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Monday, December 16th. Eagle Materials’s dividend payout ratio (DPR) is 7.06%.

Insiders Place Their Bets

In other Eagle Materials news, SVP Tony Thompson sold 1,401 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $314.00, for a total transaction of $439,914.00. Following the sale, the senior vice president now directly owns 13,212 shares of the company’s stock, valued at approximately $4,148,568. This represents a 9.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George John Damiris sold 1,000 shares of Eagle Materials stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $277.62, for a total transaction of $277,620.00. Following the completion of the transaction, the director now owns 7,943 shares of the company’s stock, valued at $2,205,135.66. This trade represents a 11.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,866 shares of company stock worth $5,482,931 over the last three months. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eagle Materials

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC raised its holdings in shares of Eagle Materials by 30.1% in the third quarter. FMR LLC now owns 3,801,257 shares of the construction company’s stock valued at $1,093,432,000 after buying an additional 878,400 shares during the last quarter. Epoch Investment Partners Inc. raised its stake in shares of Eagle Materials by 25.2% in the second quarter. Epoch Investment Partners Inc. now owns 805,257 shares of the construction company’s stock worth $175,111,000 after acquiring an additional 162,049 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Eagle Materials by 3.5% during the third quarter. Geode Capital Management LLC now owns 707,607 shares of the construction company’s stock worth $203,585,000 after purchasing an additional 23,911 shares in the last quarter. William Blair Investment Management LLC grew its stake in shares of Eagle Materials by 4.9% during the second quarter. William Blair Investment Management LLC now owns 595,276 shares of the construction company’s stock valued at $129,449,000 after purchasing an additional 28,003 shares during the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of Eagle Materials by 33.4% in the second quarter. Federated Hermes Inc. now owns 529,701 shares of the construction company’s stock valued at $115,189,000 after purchasing an additional 132,677 shares in the last quarter. 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.