Brokerages Set Eagle Materials Inc. (NYSE:EXP) Price Target at $232.50

Shares of Eagle Materials Inc. (NYSE:EXP) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $232.50.

EXP has been the subject of several recent research reports. JPMorgan Chase & Co. boosted 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. Truist Financial boosted their price target on Eagle Materials from $250.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Loop Capital upgraded Eagle Materials from a “hold” rating to a “buy” rating and upped their target price for the company from $170.00 to $240.00 in a research report on Monday, January 8th. Raymond James upped their target price on Eagle Materials from $170.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Finally, The Goldman Sachs Group upped their target price on Eagle Materials from $215.00 to $238.00 and gave the company a “buy” rating in a research report on Friday, January 26th.

Insider Buying and Selling

In other Eagle Materials news, SVP Tony Thompson sold 638 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $235.07, for a total value of $149,974.66. Following the completion of the transaction, the senior vice president now owns 14,393 shares of the company’s stock, valued at approximately $3,383,362.51. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Eagle Materials news, insider Eric Cribbs sold 2,000 shares of the company’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $214.66, for a total value of $429,320.00. Following the completion of the transaction, the insider now owns 15,654 shares of the company’s stock, valued at approximately $3,360,287.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Tony Thompson sold 638 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $235.07, for a total value of $149,974.66. Following the completion of the sale, the senior vice president now directly owns 14,393 shares of the company’s stock, valued at approximately $3,383,362.51. The disclosure for this sale can be found here. Insiders 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 insiders.

Institutional Investors Weigh In On Eagle Materials

Several institutional investors and hedge funds have recently made changes to their positions in EXP. FMR LLC grew its stake in Eagle Materials by 41.0% during the third quarter. FMR LLC now owns 2,510,906 shares of the construction company’s stock worth $418,116,000 after purchasing an additional 730,454 shares during the period. TD Asset Management Inc grew its stake in Eagle Materials by 261.8% during the fourth quarter. TD Asset Management Inc now owns 871,970 shares of the construction company’s stock worth $176,870,000 after purchasing an additional 630,964 shares during the period. William Blair Investment Management LLC grew its stake in Eagle Materials by 271.7% during the third quarter. William Blair Investment Management LLC now owns 666,874 shares of the construction company’s stock worth $111,048,000 after purchasing an additional 487,454 shares during the period. Norges Bank acquired a new stake in Eagle Materials during the fourth quarter worth approximately $60,428,000. Finally, Epoch Investment Partners Inc. grew its stake in Eagle Materials by 133.0% during the fourth quarter. Epoch Investment Partners Inc. now owns 662,628 shares of the construction company’s stock worth $134,407,000 after purchasing an additional 378,296 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Eagle Materials Trading Up 1.0 %

Shares of EXP stock opened at $271.75 on Friday. Eagle Materials has a 12-month low of $135.17 and a 12-month high of $272.72. The firm has a 50 day moving average price of $244.84 and a two-hundred day moving average price of $201.99. The company has a quick ratio of 1.13, a current ratio of 2.61 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $9.36 billion, a PE ratio of 19.18 and a beta of 1.34.

Eagle Materials (NYSE:EXP) last released its quarterly earnings results on Thursday, January 25th. The construction company reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.56 by $0.16. The business had revenue of $558.83 million during the quarter, compared to analysts’ expectations of $537.23 million. Eagle Materials had a return on equity of 40.05% and a net margin of 22.24%. As a group, analysts predict that Eagle Materials will post 14.26 earnings per share for the current year.

Eagle Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 15th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.37%. Eagle Materials’s dividend payout ratio is currently 7.06%.

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; 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.