Eagle Materials (NYSE:EXP) Given New $245.00 Price Target at Loop Capital

Eagle Materials (NYSE:EXP) had its price objective cut by Loop Capital from $280.00 to $245.00 in a report released on Tuesday morning,Benzinga reports. They currently have a hold rating on the construction company’s stock.

Other research analysts also recently issued research reports about the stock. Citigroup downgraded shares of Eagle Materials from a “buy” rating to a “neutral” rating and cut their target price for the company from $334.00 to $280.00 in a research note on Monday, January 6th. Stifel Nicolaus initiated coverage on shares of Eagle Materials in a research report on Tuesday, March 4th. They issued a “hold” rating and a $242.00 price objective for the company. DA Davidson decreased their target price on shares of Eagle Materials from $265.00 to $260.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Jefferies Financial Group lowered Eagle Materials from a “buy” rating to a “hold” rating and reduced their price target for the stock from $330.00 to $310.00 in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. lowered their price objective on Eagle Materials from $310.00 to $250.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Eagle Materials has an average rating of “Hold” and an average target price of $279.40.

Eagle Materials Stock Up 2.5 %

Shares of NYSE EXP opened at $227.42 on Tuesday. The firm’s 50-day moving average is $235.12 and its two-hundred day moving average is $264.88. The company has a market capitalization of $7.57 billion, a PE ratio of 16.24 and a beta of 1.37. Eagle Materials has a 12-month low of $205.44 and a 12-month high of $321.93. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.76 and a quick ratio of 1.01.

Eagle Materials (NYSE:EXP) last posted its earnings results on Wednesday, January 29th. The construction company reported $3.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.97 by ($0.38). Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. Equities analysts anticipate that Eagle Materials will post 14.39 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 17th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, March 17th. Eagle Materials’s dividend payout ratio (DPR) is presently 7.14%.

Insider Buying and Selling at Eagle Materials

In other news, Director Michael R. Nicolais acquired 310 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was bought at an average cost of $257.36 per share, with a total value of $79,781.60. Following the transaction, the director now directly owns 3,655 shares in the company, valued at approximately $940,650.80. This represents a 9.27 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Eagle Materials

A number of hedge funds and other institutional investors have recently made changes to their positions in EXP. JPMorgan Chase & Co. grew its holdings in Eagle Materials by 60.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,735,133 shares of the construction company’s stock worth $499,111,000 after acquiring an additional 652,836 shares in the last quarter. Norges Bank bought a new position in shares of Eagle Materials during the fourth quarter worth about $93,672,000. Raymond James Financial Inc. bought a new position in Eagle Materials during the fourth quarter worth $38,115,000. Baupost Group LLC MA boosted its holdings in Eagle Materials by 27.6% in the fourth quarter. Baupost Group LLC MA now owns 638,223 shares of the construction company’s stock worth $157,488,000 after purchasing an additional 137,950 shares during the period. Finally, World Investment Advisors LLC bought a new stake in Eagle Materials during the third quarter valued at $34,846,000. Institutional investors own 96.07% of the company’s stock.

Eagle Materials Company Profile

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.