Truist Financial Boosts Eagle Materials (NYSE:EXP) Price Target to $290.00

Eagle Materials (NYSE:EXP) had its target price raised by Truist Financial from $250.00 to $290.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other research analysts have also recently weighed in on EXP. JPMorgan Chase & Co. upgraded Eagle Materials from an underweight rating to a neutral rating and set a $200.00 target price on the stock in a report on Tuesday, December 12th. Raymond James boosted their target price on Eagle Materials from $170.00 to $230.00 and gave the company an outperform rating in a research report on Monday, January 29th. The Goldman Sachs Group boosted their target price on Eagle Materials from $215.00 to $238.00 and gave the company a buy rating in a research report on Friday, January 26th. Stifel Nicolaus upped their price objective on Eagle Materials from $186.00 to $187.00 and gave the stock a buy rating in a research report on Tuesday, December 19th. Finally, StockNews.com lowered Eagle Materials from a buy rating to a hold rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $226.00.

Eagle Materials Stock Up 0.1 %

Shares of Eagle Materials stock traded up $0.25 during trading on Friday, reaching $249.83. The company’s stock had a trading volume of 237,310 shares, compared to its average volume of 305,921. The company has a quick ratio of 1.13, a current ratio of 2.61 and a debt-to-equity ratio of 0.77. The company has a market cap of $8.61 billion, a price-to-earnings ratio of 17.63 and a beta of 1.34. Eagle Materials has a 1-year low of $133.11 and a 1-year high of $262.40. The company has a 50-day simple moving average of $233.78 and a two-hundred day simple moving average of $197.30.

Eagle Materials (NYSE:EXP) last issued its earnings results on Thursday, January 25th. The construction company reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.56 by $0.16. The company had revenue of $558.83 million during the quarter, compared to analyst estimates of $537.23 million. Eagle Materials had a return on equity of 40.05% and a net margin of 22.24%. As a group, equities analysts forecast that Eagle Materials will post 14.26 earnings per share for the current year.

Eagle Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Thursday, March 14th. Eagle Materials’s dividend payout ratio is presently 7.06%.

Insider Activity

In related news, insider Eric Cribbs sold 2,000 shares of Eagle Materials stock in a transaction on Friday, January 26th. The shares were sold at an average price of $214.66, for a total transaction of $429,320.00. Following the sale, the insider now owns 15,654 shares of the company’s stock, valued at approximately $3,360,287.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Eagle Materials news, insider Eric Cribbs sold 2,000 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $214.66, for a total transaction of $429,320.00. Following the completion of the transaction, the insider now directly owns 15,654 shares of the company’s stock, valued at approximately $3,360,287.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Matt Newby sold 2,940 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $251.15, for a total transaction of $738,381.00. Following the sale, the executive vice president now owns 21,819 shares in the company, valued at $5,479,841.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,444 shares of company stock valued at $4,414,889. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Eagle Materials by 3.0% in the third quarter. Vanguard Group Inc. now owns 3,841,414 shares of the construction company’s stock worth $411,723,000 after acquiring an additional 110,695 shares in the last quarter. FMR LLC raised its stake in shares of Eagle Materials by 41.0% in the 3rd quarter. FMR LLC now owns 2,510,906 shares of the construction company’s stock valued at $418,116,000 after buying an additional 730,454 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of Eagle Materials by 42.4% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,120,726 shares of the construction company’s stock valued at $208,926,000 after buying an additional 333,902 shares in the last quarter. Invesco Ltd. raised its stake in shares of Eagle Materials by 22.8% in the 3rd quarter. Invesco Ltd. now owns 1,097,542 shares of the construction company’s stock valued at $182,763,000 after buying an additional 203,862 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Eagle Materials by 0.3% in the 1st quarter. State Street Corp now owns 1,056,912 shares of the construction company’s stock valued at $135,929,000 after buying an additional 3,684 shares in the last quarter. 92.57% of the stock is owned by hedge funds and other institutional investors.

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; 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.