Eagle Materials (NYSE:EXP) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Eagle Materials (NYSE:EXP) from a hold rating to a buy rating in a report published on Tuesday.

A number of other research analysts have also recently issued reports on EXP. Stephens boosted their price objective on shares of Eagle Materials from $250.00 to $295.00 and gave the company an overweight rating in a report on Wednesday, April 24th. The Goldman Sachs Group boosted their price objective on shares of Eagle Materials from $238.00 to $273.00 and gave the company a buy rating in a report on Tuesday, April 16th. Stifel Nicolaus boosted their price objective on shares of Eagle Materials from $250.00 to $300.00 and gave the company a buy rating in a report on Monday, April 15th. JPMorgan Chase & Co. boosted their price objective on shares of Eagle Materials from $200.00 to $265.00 and gave the company a neutral rating in a report on Friday, March 22nd. Finally, Truist Financial boosted their price objective on shares of Eagle Materials from $290.00 to $320.00 and gave the company a buy rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $279.67.

Eagle Materials Trading Up 1.1 %

EXP opened at $238.16 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.62 and a quick ratio of 1.13. The company has a market cap of $8.20 billion, a price-to-earnings ratio of 17.49 and a beta of 1.35. The firm has a 50 day simple moving average of $258.13 and a 200 day simple moving average of $228.18. Eagle Materials has a fifty-two week low of $145.03 and a fifty-two week high of $276.61.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Tuesday, May 21st. The construction company reported $2.24 earnings per share for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.48). The business had revenue of $476.70 million for the quarter, compared to the consensus estimate of $480.20 million. Eagle Materials had a return on equity of 37.31% and a net margin of 21.14%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the firm earned $2.79 earnings per share. On average, sell-side analysts anticipate that Eagle Materials will post 16.01 earnings per share for the current year.

Eagle Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.42%. The ex-dividend date is Monday, June 17th. Eagle Materials’s payout ratio is 7.34%.

Insider Buying and Selling

In related news, EVP Matt Newby sold 2,940 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $251.15, for a total transaction of $738,381.00. Following the completion of the transaction, the executive vice president now owns 21,819 shares in the company, valued at $5,479,841.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. acquired a new position in Eagle Materials during the fourth quarter worth $1,085,000. NewEdge Wealth LLC raised its position in Eagle Materials by 13.4% during the fourth quarter. NewEdge Wealth LLC now owns 89,090 shares of the construction company’s stock worth $18,071,000 after acquiring an additional 10,514 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Eagle Materials during the fourth quarter worth $1,988,000. Van ECK Associates Corp raised its position in Eagle Materials by 39.7% during the fourth quarter. Van ECK Associates Corp now owns 10,537 shares of the construction company’s stock worth $2,137,000 after acquiring an additional 2,993 shares in the last quarter. Finally, Mariner LLC raised its position in Eagle Materials by 4.1% during the third quarter. Mariner LLC now owns 9,081 shares of the construction company’s stock worth $1,512,000 after acquiring an additional 357 shares in the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

About Eagle Materials

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.