Eagle Materials (NYSE:EXP) Reaches New 1-Year Low – What’s Next?

Eagle Materials Inc. (NYSE:EXP) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $209.98 and last traded at $208.76, with a volume of 24152 shares changing hands. The stock had previously closed at $218.77.

Analysts Set New Price Targets

EXP has been the subject of a number of recent analyst reports. Citigroup downgraded shares of Eagle Materials from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $334.00 to $280.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. boosted their price objective on shares of Eagle Materials from $290.00 to $310.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Truist Financial raised their target price on shares of Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Loop Capital lowered Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 target price for the company. in a report on Monday, November 25th. Finally, Jefferies Financial Group cut Eagle Materials from a “buy” rating to a “hold” rating and dropped their price target for the stock from $330.00 to $310.00 in a research report on Monday, December 16th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $292.40.

Eagle Materials Trading Down 1.6 %

The firm has a 50-day moving average of $246.96 and a 200 day moving average of $269.93. The company has a current ratio of 2.76, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of 15.37 and a beta of 1.37.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings results on Wednesday, January 29th. The construction company reported $3.59 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%. As a group, equities analysts predict that Eagle Materials Inc. will post 14.39 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 17th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.46%. Eagle Materials’s dividend payout ratio (DPR) is 7.14%.

Insider Activity at Eagle Materials

In other Eagle Materials news, Director Michael R. Nicolais bought 310 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average cost of $257.36 per share, with a total value of $79,781.60. Following the completion of the purchase, the director now directly owns 3,655 shares in the company, valued at approximately $940,650.80. This trade represents a 9.27 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Eagle Materials

Several hedge funds have recently modified their holdings of EXP. FMR LLC boosted its stake in Eagle Materials by 30.1% in the 3rd quarter. FMR LLC now owns 3,801,257 shares of the construction company’s stock worth $1,093,432,000 after purchasing an additional 878,400 shares during the period. JPMorgan Chase & Co. lifted its stake in Eagle Materials by 60.3% in 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 purchased a new stake in Eagle Materials in the 4th quarter worth about $93,672,000. Baupost Group LLC MA boosted its position in Eagle Materials by 46.2% during the 3rd quarter. Baupost Group LLC MA now owns 500,273 shares of the construction company’s stock worth $143,904,000 after acquiring an additional 158,171 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Eagle Materials during the 4th quarter valued at about $38,115,000. 96.07% of the stock is 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.