Eagle Materials (NYSE:EXP) Hits New 1-Year Low at $104.79

Eagle Materials Inc. (NYSE:EXPGet Rating) shares hit a new 52-week low on Friday . The stock traded as low as $104.79 and last traded at $105.07, with a volume of 2204 shares changing hands. The stock had previously closed at $108.51.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on EXP shares. Stephens reduced their price target on shares of Eagle Materials to $170.00 in a research report on Tuesday, July 26th. StockNews.com raised shares of Eagle Materials from a “hold” rating to a “buy” rating in a research report on Friday, July 29th. JPMorgan Chase & Co. raised their price target on shares of Eagle Materials from $130.00 to $140.00 in a research report on Thursday. Finally, Citigroup raised their price target on shares of Eagle Materials to $146.00 in a research report on Tuesday, August 9th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $160.00.

Eagle Materials Stock Performance

The business has a 50-day simple moving average of $122.67 and a 200 day simple moving average of $123.30. The firm has a market cap of $3.91 billion, a PE ratio of 11.26 and a beta of 1.29. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.39 and a quick ratio of 1.37.

Eagle Materials (NYSE:EXPGet Rating) last released its earnings results on Thursday, July 28th. The construction company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.09. Eagle Materials had a return on equity of 33.25% and a net margin of 19.72%. The firm had revenue of $561.39 million during the quarter, compared to analysts’ expectations of $561.82 million. Equities research analysts forecast that Eagle Materials Inc. will post 11.45 EPS for the current year.

Eagle Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Thursday, September 15th. Eagle Materials’s dividend payout ratio (DPR) is presently 10.37%.

Hedge Funds Weigh In On Eagle Materials

Several hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. increased its position in Eagle Materials by 180.3% in the first quarter. Prudential Financial Inc. now owns 470,479 shares of the construction company’s stock worth $60,390,000 after purchasing an additional 302,625 shares during the last quarter. Victory Capital Management Inc. increased its position in Eagle Materials by 40.0% during the second quarter. Victory Capital Management Inc. now owns 875,680 shares of the construction company’s stock valued at $96,273,000 after acquiring an additional 250,400 shares during the last quarter. Los Angeles Capital Management LLC increased its position in Eagle Materials by 1,300.6% during the second quarter. Los Angeles Capital Management LLC now owns 241,319 shares of the construction company’s stock valued at $26,531,000 after acquiring an additional 224,089 shares during the last quarter. Reinhart Partners Inc. bought a new position in Eagle Materials during the second quarter valued at $14,750,000. Finally, Barden Capital Management Inc. increased its position in Eagle Materials by 2,106.0% during the second quarter. Barden Capital Management Inc. now owns 129,338 shares of the construction company’s stock valued at $579,000 after acquiring an additional 123,475 shares during the last quarter. Hedge funds and other institutional investors own 93.41% of the company’s stock.

Eagle Materials Company Profile

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Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials and light building materials in the United States. It operates through Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard segments. 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.

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