Eagle Materials (NYSE:EXP) Sets New 12-Month Low – Here’s What Happened

Eagle Materials Inc (NYSE:EXP) reached a new 52-week low during trading on Wednesday . The stock traded as low as $184.05 and last traded at $184.5640, with a volume of 256150 shares traded. The stock had previously closed at $188.50.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Royal Bank Of Canada set a $208.00 target price on shares of Eagle Materials in a research note on Tuesday, February 24th. Truist Financial reiterated a “hold” rating and set a $210.00 price objective (down from $280.00) on shares of Eagle Materials in a report on Friday, December 19th. Wells Fargo & Company lowered their price objective on Eagle Materials from $251.00 to $241.00 and set an “overweight” rating for the company in a research report on Thursday, January 29th. Zacks Research downgraded Eagle Materials from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd. Finally, Citigroup reduced their target price on Eagle Materials from $232.00 to $224.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 3rd. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $228.36.

Eagle Materials Price Performance

The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.68 and a current ratio of 4.27. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 13.26 and a beta of 1.35. The stock’s 50 day simple moving average is $218.23 and its 200-day simple moving average is $221.20.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Thursday, January 29th. The construction company reported $3.22 EPS for the quarter, missing the consensus estimate of $3.32 by ($0.10). Eagle Materials had a return on equity of 28.96% and a net margin of 18.70%.The company had revenue of $555.96 million for the quarter, compared to analyst estimates of $556.41 million. During the same quarter in the previous year, the firm posted $3.59 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. Equities research analysts anticipate that Eagle Materials Inc will post 14.39 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Monday, March 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, March 16th. Eagle Materials’s payout ratio is presently 7.57%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Baupost Group LLC MA increased its holdings in Eagle Materials by 26.1% in the 4th quarter. Baupost Group LLC MA now owns 1,185,248 shares of the construction company’s stock worth $244,967,000 after buying an additional 245,588 shares during the period. Frontier Capital Management Co. LLC lifted its stake in Eagle Materials by 36.0% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 830,284 shares of the construction company’s stock valued at $167,809,000 after acquiring an additional 219,627 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of Eagle Materials by 0.6% in the 3rd quarter. William Blair Investment Management LLC now owns 615,250 shares of the construction company’s stock valued at $143,378,000 after acquiring an additional 3,505 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Eagle Materials by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 610,645 shares of the construction company’s stock valued at $126,217,000 after acquiring an additional 7,749 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Eagle Materials by 2.5% in the third quarter. American Century Companies Inc. now owns 534,380 shares of the construction company’s stock worth $124,532,000 after acquiring an additional 13,104 shares during the period. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

About Eagle Materials

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.