Eagle Materials (NYSE:EXP) Hits New 52-Week High at $279.71

Eagle Materials Inc. (NYSE:EXP)’s stock price reached a new 52-week high on Monday . The stock traded as high as $279.71 and last traded at $278.79, with a volume of 256032 shares changing hands. The stock had previously closed at $270.68.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Loop Capital lowered their target price on Eagle Materials from $310.00 to $305.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Citigroup lifted their target price on Eagle Materials from $252.00 to $311.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. StockNews.com cut Eagle Materials from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Raymond James cut Eagle Materials from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Stephens boosted their price target on Eagle Materials from $280.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $289.78.

Eagle Materials Stock Up 1.1 %

The stock has a market cap of $9.61 billion, a P/E ratio of 20.92 and a beta of 1.32. 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 business has a 50-day simple moving average of $247.94 and a 200-day simple moving average of $246.35.

Eagle Materials (NYSE:EXP) last announced its earnings results on Tuesday, July 30th. The construction company reported $3.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.57 by $0.37. The firm 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.55 earnings per share. Analysts expect that Eagle Materials Inc. will post 15.9 EPS for the current year.

Eagle Materials Dividend Announcement

The business 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 dividend of $0.25 per share. The ex-dividend date is Tuesday, September 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.35%. Eagle Materials’s payout ratio is currently 7.34%.

Insider Activity

In other Eagle Materials news, CFO Dale Craig Kesler sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $266.76, for a total value of $1,333,800.00. Following the sale, the chief financial officer now directly owns 60,488 shares in the company, valued at approximately $16,135,778.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Eagle Materials news, CFO Dale Craig Kesler sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $266.76, for a total value of $1,333,800.00. Following the sale, the chief financial officer now directly owns 60,488 shares in the company, valued at approximately $16,135,778.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Cribbs sold 1,851 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $277.06, for a total transaction of $512,838.06. Following the completion of the sale, the insider now owns 13,937 shares in the company, valued at $3,861,385.22. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Institutional Trading of Eagle Materials

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Eagle Bay Advisors LLC boosted its position in shares of Eagle Materials by 79.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 95 shares of the construction company’s stock valued at $26,000 after acquiring an additional 42 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its position in shares of Eagle Materials by 3.7% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,277 shares of the construction company’s stock valued at $347,000 after acquiring an additional 45 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Eagle Materials by 16.5% during the 1st quarter. GAMMA Investing LLC now owns 382 shares of the construction company’s stock valued at $104,000 after acquiring an additional 54 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Eagle Materials by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 9,644 shares of the construction company’s stock valued at $2,097,000 after acquiring an additional 56 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of Eagle Materials by 132.7% during the 1st quarter. Bessemer Group Inc. now owns 114 shares of the construction company’s stock valued at $31,000 after acquiring an additional 65 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

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.