Eagle Materials (NYSE:EXP) Price Target Cut to $250.00 by Analysts at JPMorgan Chase & Co.

Eagle Materials (NYSE:EXP) had its price target lowered by JPMorgan Chase & Co. from $310.00 to $250.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the construction company’s stock.

A number of other research firms have also weighed in on EXP. DA Davidson lowered their price objective 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. Citigroup cut Eagle Materials from a “buy” rating to a “neutral” rating and dropped their price target for the company from $334.00 to $280.00 in a research report on Monday, January 6th. Stifel Nicolaus assumed coverage on Eagle Materials in a research note on Tuesday, March 4th. They issued a “hold” rating and a $242.00 target price on the stock. Stephens reiterated an “overweight” rating and set a $310.00 price target on shares of Eagle Materials in a report on Thursday, January 30th. Finally, Jefferies Financial Group downgraded 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 report on Monday, December 16th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Eagle Materials has a consensus rating of “Hold” and an average price target of $286.40.

Eagle Materials Stock Performance

Shares of EXP opened at $217.86 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 2.76 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average price of $238.68 and a 200 day moving average price of $265.83. The company has a market capitalization of $7.25 billion, a price-to-earnings ratio of 15.56 and a beta of 1.37. Eagle Materials has a 52-week low of $205.44 and a 52-week high of $321.93.

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

Eagle Materials Announces Dividend

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

Insiders Place Their Bets

In other Eagle Materials news, Director Michael R. Nicolais bought 310 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were acquired at an average cost of $257.36 per share, with a total value of $79,781.60. Following the completion of the transaction, the director now owns 3,655 shares in the company, valued at $940,650.80. The trade was a 9.27 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eagle Materials

Several institutional investors and hedge funds have recently made changes to their positions in the business. Private Trust Co. NA lifted its holdings in Eagle Materials by 53.0% during the 4th quarter. Private Trust Co. NA now owns 205 shares of the construction company’s stock worth $51,000 after buying an additional 71 shares during the last quarter. Huntington National Bank grew its stake in shares of Eagle Materials by 154.8% in the fourth quarter. Huntington National Bank now owns 237 shares of the construction company’s stock worth $58,000 after purchasing an additional 144 shares in the last quarter. R Squared Ltd acquired a new position in Eagle Materials during the 4th quarter valued at about $81,000. LGT Financial Advisors LLC raised its holdings in Eagle Materials by 233.1% during the fourth quarter. LGT Financial Advisors LLC now owns 443 shares of the construction company’s stock worth $109,000 after purchasing an additional 310 shares in the last quarter. Finally, Transce3nd LLC acquired a new stake in shares of Eagle Materials in the fourth quarter valued at $125,000. 96.07% of the stock is currently 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, 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.