Eagle Materials (NYSE:EXP) Stock Gets Price Target Cut from JPMorgan Chase & Co.

Eagle Materials (NYSE:EXP) had its price target cut by JPMorgan Chase & Co. from $225.00 to $200.00 in a report released on Tuesday,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

Other analysts also recently issued reports about the company. Truist Financial lowered their price target on Eagle Materials from $210.00 to $165.00 and set a “hold” rating for the company in a research report on Thursday, October 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eagle Materials in a research note on Friday, September 11th. Stephens lifted their price objective on shares of Eagle Materials from $225.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Royal Bank Of Canada cut their price objective on shares of Eagle Materials from $219.00 to $170.00 and set a “sector perform” rating on the stock in a research report on Friday, October 9th. Finally, Wells Fargo & Company reduced their target price on shares of Eagle Materials from $196.00 to $188.00 and set an “equal weight” rating on the stock in a research note on Monday, October 5th. Ten investment analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $199.56.

Eagle Materials Price Performance

NYSE:EXP opened at $170.61 on Tuesday. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 13.49 and a beta of 1.33. Eagle Materials has a 1 year low of $160.02 and a 1 year high of $245.53. The business has a 50 day simple moving average of $187.22 and a 200-day simple moving average of $201.36. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.23 and a quick ratio of 1.91.

Eagle Materials (NYSE:EXP) last announced its earnings results on Wednesday, July 29th. The construction company reported $3.29 EPS for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.08). The company had revenue of $650.97 million during the quarter, compared to analysts’ expectations of $620.35 million. Eagle Materials had a return on equity of 26.87% and a net margin of 17.32%. Eagle Materials’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.76 EPS. Equities analysts forecast that Eagle Materials will post 12.66 EPS for the current year.

Eagle Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 13th. Investors of record on Monday, September 14th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, September 14th. Eagle Materials’s payout ratio is presently 7.91%.

Insiders Place Their Bets

In other Eagle Materials news, SVP Tony Thompson sold 3,074 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $203.96, for a total transaction of $626,973.04. Following the transaction, the senior vice president directly owned 10,142 shares in the company, valued at $2,068,562.32. This represents a 23.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Eagle Materials

Several large investors have recently modified their holdings of the business. Squarepoint Ops LLC increased its holdings in Eagle Materials by 87.2% during the second quarter. Squarepoint Ops LLC now owns 15,356 shares of the construction company’s stock valued at $3,455,000 after buying an additional 7,155 shares during the period. Fifth Third Bancorp raised its stake in Eagle Materials by 5,116.3% in the first quarter. Fifth Third Bancorp now owns 25,612 shares of the construction company’s stock worth $4,852,000 after buying an additional 25,121 shares in the last quarter. Bank of America Corp DE bought a new position in Eagle Materials in the second quarter worth approximately $66,255,000. Legal & General Group Plc purchased a new stake in Eagle Materials during the second quarter worth $8,280,000. Finally, Hsbc Holdings PLC lifted its holdings in Eagle Materials by 109.9% during the second quarter. Hsbc Holdings PLC now owns 19,023 shares of the construction company’s stock worth $4,274,000 after buying an additional 9,960 shares during the period. Institutional investors own 96.07% of the company’s stock.

Eagle Materials Company Profile

Eagle Materials Inc (NYSE: EXP) is a Dallas-based manufacturer of basic building materials used in residential, commercial and infrastructure construction. Its primary products include Portland cement, ready-mixed concrete, aggregates, gypsum wallboard and gypsum paperboard.

The company operates through businesses focused on cement, concrete and aggregates, and gypsum wallboard and paperboard. Its materials are sold primarily in the United States, with production and distribution operations serving markets across several regions, including the central, southern and southwestern parts of the country.

Eagle Materials traces its origins to the construction-materials operations formerly associated with Centex Corporation and became an independent, publicly traded company in 1994.