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

Eagle Materials Inc (NYSE:EXP) shares reached a new 52-week low during trading on Wednesday. The company traded as low as $166.00 and last traded at $166.0360, with a volume of 26384 shares changing hands. The stock had previously closed at $171.54.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on EXP shares. Truist Financial cut their target price on shares of Eagle Materials from $210.00 to $165.00 and set a “hold” rating for the company in a research note on Thursday. DA Davidson cut their price objective on shares of Eagle Materials from $220.00 to $207.00 and set a “neutral” rating for the company in a research report on Monday, September 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Eagle Materials in a research note on Friday, September 11th. Zacks Research lowered shares of Eagle Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Citigroup lowered their target price on shares of Eagle Materials from $232.00 to $190.00 and set a “neutral” rating for the company in a research note on Friday, October 2nd. Ten equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $207.78.

Eagle Materials Stock Down 0.3%

The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.91 and a current ratio of 3.23. The company has a market cap of $5.12 billion, a PE ratio of 13.20 and a beta of 1.33. The firm has a fifty day simple moving average of $192.01 and a 200 day simple moving average of $202.01.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.29 earnings per share for the quarter, missing the consensus estimate of $3.37 by ($0.08). Eagle Materials had a return on equity of 26.87% and a net margin of 17.32%.The company had revenue of $650.97 million for the quarter, compared to analysts’ expectations of $620.35 million. During the same quarter in the previous year, the company earned $3.76 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. Equities research analysts predict that Eagle Materials Inc will post 12.66 EPS for the current year.

Eagle Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Monday, September 14th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. Eagle Materials’s dividend payout ratio (DPR) is currently 7.91%.

Insiders Place Their Bets

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

Institutional Trading of Eagle Materials

A number of institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Eagle Materials in the second quarter valued at $688,486,000. Baupost Group LLC MA increased its stake in Eagle Materials by 26.1% during the fourth quarter. Baupost Group LLC MA now owns 1,185,248 shares of the construction company’s stock worth $244,967,000 after acquiring an additional 245,588 shares during the last quarter. W1M Asset Management Ltd acquired a new stake in Eagle Materials during the second quarter worth about $155,199,000. Dimensional Fund Advisors LP raised its holdings in shares of Eagle Materials by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 627,427 shares of the construction company’s stock worth $118,846,000 after purchasing an additional 16,782 shares during the period. Finally, William Blair Investment Management LLC purchased a new position in shares of Eagle Materials in the 2nd quarter worth about $129,760,000. 96.07% of the stock is currently owned by institutional investors and hedge funds.

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.