Eagle Materials (NYSE:EXP) Reaches New 12-Month High – What’s Next?

Eagle Materials Inc. (NYSE:EXP) shares reached a new 52-week high on Monday . The stock traded as high as $320.00 and last traded at $319.30, with a volume of 123345 shares traded. The stock had previously closed at $314.35.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on EXP shares. Truist Financial lifted their price objective on Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, November 4th. 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. JPMorgan Chase & Co. upped their price objective on Eagle Materials from $270.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Jefferies Financial Group upped their price objective on Eagle Materials from $309.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, The Goldman Sachs Group upped their price objective on Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $304.89.

Eagle Materials Stock Performance

The stock’s 50 day moving average is $293.76 and its two-hundred day moving average is $258.69. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 22.27 and a beta of 1.32. The company has a current ratio of 2.34, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $4.31 EPS for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.44). Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. The business had revenue of $623.62 million during the quarter, compared to the consensus estimate of $651.46 million. During the same period in the prior year, the firm earned $4.28 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Analysts expect that Eagle Materials Inc. will post 15.24 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 16th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend is Monday, December 16th. Eagle Materials’s dividend payout ratio (DPR) is presently 7.06%.

Insider Buying and Selling

In related news, CEO Michael Haack sold 11,888 shares of Eagle Materials stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $310.50, for a total transaction of $3,691,224.00. Following the completion of the sale, the chief executive officer now owns 85,811 shares of the company’s stock, valued at approximately $26,644,315.50. The trade was a 12.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Tony Thompson sold 1,401 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $314.00, for a total transaction of $439,914.00. Following the sale, the senior vice president now owns 13,212 shares of the company’s stock, valued at $4,148,568. This trade represents a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,866 shares of company stock worth $5,482,931. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Eagle Materials

Hedge funds and other institutional investors have recently bought and sold shares of the business. CIBC Asset Management Inc lifted its position in shares of Eagle Materials by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 1,032 shares of the construction company’s stock valued at $297,000 after acquiring an additional 37 shares during the period. Coldstream Capital Management Inc. raised its position in shares of Eagle Materials by 1.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,981 shares of the construction company’s stock valued at $858,000 after buying an additional 41 shares in the last quarter. Financial Strategies Group Inc. boosted its position in shares of Eagle Materials by 4.4% during the 3rd quarter. Financial Strategies Group Inc. now owns 1,022 shares of the construction company’s stock worth $304,000 after acquiring an additional 43 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 worth $2,097,000 after acquiring an additional 56 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in Eagle Materials by 1.5% in the third quarter. National Bank of Canada FI now owns 3,872 shares of the construction company’s stock valued at $1,114,000 after acquiring an additional 57 shares during the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

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.