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

Eagle Materials Inc. (NYSE:EXP) hit a new 52-week high during trading on Wednesday . The company traded as high as $293.08 and last traded at $292.85, with a volume of 19368 shares changing hands. The stock had previously closed at $288.52.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EXP. Citigroup raised their price target on shares of Eagle Materials from $252.00 to $311.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Jefferies Financial Group boosted their target price on Eagle Materials from $270.00 to $283.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Stephens increased their price target on Eagle Materials from $280.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Raymond James downgraded Eagle Materials from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $289.78.

Eagle Materials Stock Up 0.9 %

The firm has a 50-day moving average of $262.80 and a two-hundred day moving average of $249.48. The company has a quick ratio of 1.17, a current ratio of 2.45 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $9.86 billion, a PE ratio of 21.19 and a beta of 1.32.

Eagle Materials (NYSE:EXP) last released its quarterly earnings results on Tuesday, July 30th. The construction company reported $3.94 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.37. The business had revenue of $608.69 million during the quarter, compared to analysts’ expectations of $622.06 million. Eagle Materials had a return on equity of 37.10% and a net margin of 21.65%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.55 EPS. Equities research analysts predict that Eagle Materials Inc. will post 15.9 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Tuesday, September 17th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Tuesday, September 17th. Eagle Materials’s payout ratio is 7.34%.

Insiders Place Their Bets

In other Eagle Materials news, Director George John Damiris sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $277.62, for a total transaction of $277,620.00. Following the sale, the director now directly owns 7,943 shares in the company, valued at $2,205,135.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Eric Cribbs sold 1,851 shares of Eagle Materials stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $277.06, for a total value of $512,838.06. Following the completion of the transaction, the insider now directly owns 13,937 shares in the company, valued at approximately $3,861,385.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director George John Damiris sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $277.62, for a total value of $277,620.00. Following the sale, the director now owns 7,943 shares in the company, valued at approximately $2,205,135.66. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,851 shares of company stock worth $2,124,258 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Eagle Materials

Large investors have recently made changes to their positions in the company. Eagle Bay Advisors LLC increased its position in shares of Eagle Materials by 79.2% in the 1st quarter. Eagle Bay Advisors LLC now owns 95 shares of the construction company’s stock valued at $26,000 after purchasing an additional 42 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of Eagle Materials during the first quarter worth $27,000. YHB Investment Advisors Inc. purchased a new position in Eagle Materials in the first quarter valued at $27,000. Tompkins Financial Corp acquired a new stake in Eagle Materials in the first quarter valued at $27,000. Finally, Bessemer Group Inc. lifted its holdings in Eagle Materials by 132.7% during the 1st quarter. Bessemer Group Inc. now owns 114 shares of the construction company’s stock worth $31,000 after buying an additional 65 shares during the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

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.