Loop Capital Cuts Eagle Materials (NYSE:EXP) Price Target to $245.00

Eagle Materials (NYSE:EXP) had its target price trimmed by Loop Capital from $280.00 to $245.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a hold rating on the construction company’s stock.

A number of other equities analysts also recently commented on the stock. Jefferies Financial Group cut shares of Eagle Materials from a “buy” rating to a “hold” rating and reduced their target price for the stock from $330.00 to $310.00 in a research note on Monday, December 16th. Citigroup downgraded shares of Eagle Materials from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $334.00 to $280.00 in a research report on Monday, January 6th. Stifel Nicolaus initiated coverage on Eagle Materials in a report on Tuesday, March 4th. They issued a “hold” rating and a $242.00 price objective on the stock. Stephens reissued an “overweight” rating and issued a $310.00 price target on shares of Eagle Materials in a report on Thursday, January 30th. Finally, DA Davidson decreased their price target on Eagle Materials from $265.00 to $260.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $279.40.

Eagle Materials Price Performance

Shares of NYSE EXP opened at $229.67 on Tuesday. 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 cap of $7.65 billion, a P/E ratio of 16.41 and a beta of 1.37. The stock has a 50 day moving average of $234.03 and a two-hundred day moving average of $264.43. Eagle Materials has a twelve month low of $205.44 and a twelve month high of $321.93.

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

Eagle Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 17th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, March 17th. Eagle Materials’s dividend payout ratio is currently 7.14%.

Insider Buying and Selling

In other Eagle Materials news, Director Michael R. Nicolais acquired 310 shares of the company’s stock in a transaction dated 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 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Eagle Materials

A number of large investors have recently bought and sold shares of EXP. JPMorgan Chase & Co. lifted its position in shares of Eagle Materials by 60.3% in the third quarter. JPMorgan Chase & Co. now owns 1,735,133 shares of the construction company’s stock valued at $499,111,000 after acquiring an additional 652,836 shares in the last quarter. Norges Bank acquired a new position in Eagle Materials in the 4th quarter valued at about $93,672,000. Raymond James Financial Inc. purchased a new position in Eagle Materials in the 4th quarter valued at about $38,115,000. Baupost Group LLC MA boosted its stake in shares of Eagle Materials by 27.6% during the 4th 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 last quarter. Finally, World Investment Advisors LLC purchased a new stake in shares of Eagle Materials during the third quarter worth about $34,846,000. Institutional investors and hedge funds 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.