Eagle Materials (NYSE:EXP) Downgraded to Equal Weight Rating by Wells Fargo & Company

by · The Markets Daily

Wells Fargo & Company cut shares of Eagle Materials (NYSE:EXP – Free Report) from an overweight rating to an equal weight rating in a research note published on Wednesday, Marketbeat.com reports. They currently have $196.00 price objective on the construction company’s stock, down from their prior price objective of $231.00.

Several other research analysts have also issued reports on the stock. Stephens increased their price target on shares of Eagle Materials from $225.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Citigroup lowered Eagle Materials from a “neutral” rating to a “cautious” rating in a research note on Wednesday. Royal Bank Of Canada increased their target price on Eagle Materials from $208.00 to $219.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 20th. Weiss Ratings restated a “hold (c)” rating on shares of Eagle Materials in a research report on Tuesday, June 16th. Finally, Zacks Research downgraded Eagle Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Nine analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Eagle Materials currently has an average rating of “Reduce” and an average target price of $219.78.

Check Out Our Latest Stock Report on Eagle Materials

Eagle Materials Stock Down 1.9%

Shares of EXP stock opened at $186.94 on Wednesday. Eagle Materials has a one year low of $171.99 and a one year high of $245.53. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.23 and a quick ratio of 1.91. The stock has a fifty day moving average price of $206.15 and a 200 day moving average price of $206.04. The stock has a market cap of $5.73 billion, a P/E ratio of 14.78 and a beta of 1.36.

Eagle Materials (NYSE:EXP – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.08). Eagle Materials had a net margin of 17.32% and a return on equity of 26.87%. The business had revenue of $650.97 million during the quarter, compared to analyst estimates of $620.35 million. During the same quarter in the prior year, the company posted $3.76 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. Analysts predict that Eagle Materials will post 12.66 earnings per share for the current year.

Eagle Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Monday, September 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Eagle Materials’s dividend payout ratio (DPR) is presently 7.91%.

Insider Activity at Eagle Materials

In related news, SVP Tony Thompson sold 3,074 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $203.96, for a total transaction of $626,973.04. Following the sale, the senior vice president directly owned 10,142 shares in the company, valued at $2,068,562.32. This represents a 23.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Eagle Materials

A number of institutional investors have recently modified their holdings of EXP. Caisse de depot et placement du Quebec increased its stake in shares of Eagle Materials by 3.6% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,426 shares of the construction company’s stock valued at $332,000 after buying an additional 50 shares during the period. Sequoia Financial Advisors LLC grew its holdings in Eagle Materials by 4.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,782 shares of the construction company’s stock worth $401,000 after acquiring an additional 82 shares during the period. GAMMA Investing LLC boosted its position in shares of Eagle Materials by 9.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,015 shares of the construction company’s stock worth $228,000 after purchasing an additional 84 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in Eagle Materials by 7.0% during the first quarter. QRG Capital Management Inc. now owns 1,294 shares of the construction company’s stock worth $245,000 after buying an additional 85 shares during the last quarter. Finally, HB Wealth Management LLC boosted its stake in Eagle Materials by 4.9% during the 1st quarter. HB Wealth Management LLC now owns 1,871 shares of the construction company’s stock worth $354,000 after acquiring an additional 87 shares during the last quarter. 96.07% of the stock is owned by institutional investors.

Eagle Materials Company Profile

(Get Free Report)

Eagle Materials Inc (NYSE:EXP) is a Dallas, Texas–based manufacturer of building materials serving construction and heavy industry markets across the United States. The company’s primary products include portland and masonry cements, gypsum wallboard, lightweight aggregate, paperboard packaging, and roofing granules. These product lines support a wide range of end uses—from residential and commercial buildings to infrastructure projects and industrial applications.

Since its spin-off from a major homebuilding company in 2004, Eagle Materials has grown through targeted facility expansions and strategic acquisitions.

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