Citigroup Cuts Eagle Materials (NYSE:EXP) Price Target to $232.00

Eagle Materials (NYSE:EXP) had its price target lowered by Citigroup from $233.00 to $232.00 in a research note issued to investors on Thursday,Benzinga reports. Citigroup currently has a neutral rating on the construction company’s stock.

Several other analysts also recently issued reports on the company. Zacks Research raised Eagle Materials from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Wells Fargo & Company cut their target price on Eagle Materials from $261.00 to $251.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Jefferies Financial Group restated a “hold” rating and set a $226.00 price target on shares of Eagle Materials in a research report on Monday, November 3rd. Stifel Nicolaus set a $246.00 price objective on shares of Eagle Materials in a research report on Monday, October 27th. Finally, DA Davidson dropped their price target on shares of Eagle Materials from $245.00 to $225.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Eagle Materials presently has a consensus rating of “Hold” and an average target price of $236.20.

Eagle Materials Stock Performance

Eagle Materials stock opened at $235.12 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.72 and a quick ratio of 1.22. Eagle Materials has a 12 month low of $191.91 and a 12 month high of $265.42. The company has a fifty day moving average price of $214.35 and a two-hundred day moving average price of $222.70. The company has a market cap of $7.54 billion, a PE ratio of 17.35 and a beta of 1.36.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Thursday, October 30th. The construction company reported $4.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.12). The business had revenue of $638.91 million during the quarter, compared to the consensus estimate of $635.55 million. Eagle Materials had a return on equity of 30.13% and a net margin of 19.41%.The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.31 earnings per share. Research analysts expect that Eagle Materials will post 14.39 earnings per share for the current year.

Eagle Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Monday, December 15th will be issued a $0.25 dividend. The ex-dividend date is Monday, December 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.4%. Eagle Materials’s dividend payout ratio is 7.38%.

Insiders Place Their Bets

In other news, Director David E. Rush bought 1,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were purchased at an average cost of $208.08 per share, with a total value of $208,080.00. Following the completion of the acquisition, the director directly owned 4,173 shares in the company, valued at approximately $868,317.84. The trade was a 31.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eagle Materials

Several hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc grew its position in Eagle Materials by 130.9% in the third quarter. Versant Capital Management Inc now owns 127 shares of the construction company’s stock worth $30,000 after buying an additional 72 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Eagle Materials during the 3rd quarter worth $30,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Eagle Materials in the 3rd quarter worth $34,000. Hantz Financial Services Inc. raised its position in shares of Eagle Materials by 7,750.0% during the second quarter. Hantz Financial Services Inc. now owns 157 shares of the construction company’s stock worth $32,000 after purchasing an additional 155 shares during the period. Finally, MAI Capital Management lifted its holdings in shares of Eagle Materials by 3,060.0% during the second quarter. MAI Capital Management now owns 158 shares of the construction company’s stock valued at $32,000 after purchasing an additional 153 shares during the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

Eagle Materials Company Profile

Eagle Materials Inc (NYSE:EXP) is a Dallas, Texas–based manufacturer of building materials serving construction and heavy industry markets across the United States. The company’s primary products include portland and masonry cements, gypsum wallboard, lightweight aggregate, paperboard packaging, and roofing granules. These product lines support a wide range of end uses—from residential and commercial buildings to infrastructure projects and industrial applications.

Since its spin-off from a major homebuilding company in 2004, Eagle Materials has grown through targeted facility expansions and strategic acquisitions.