Eagle Materials (NYSE:EXP) Shares Gap Down – Time to Sell?

Eagle Materials Inc. (NYSE:EXP)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $217.29, but opened at $210.18. Eagle Materials shares last traded at $216.97, with a volume of 614,445 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. 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 for the company. JPMorgan Chase & Co. reduced their price target on shares of Eagle Materials from $310.00 to $250.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Citigroup cut Eagle Materials from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $334.00 to $280.00 in a research report on Monday, January 6th. Loop Capital dropped their target price on Eagle Materials from $280.00 to $245.00 and set a “hold” rating on the stock in a report on Tuesday, April 1st. Finally, Stephens reiterated an “overweight” rating and issued a $310.00 target price on shares of Eagle Materials in a research note on Thursday, January 30th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $279.40.

Eagle Materials Stock Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 2.76. The stock has a market cap of $7.03 billion, a price-to-earnings ratio of 15.14 and a beta of 1.25. The stock has a fifty day simple moving average of $232.17 and a two-hundred day simple moving average of $263.18.

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

Eagle Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 17th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.47%. Eagle Materials’s payout ratio is 7.14%.

Insider Buying and Selling at Eagle Materials

In other news, Director Michael R. Nicolais bought 310 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average cost of $257.36 per share, with a total value of $79,781.60. Following the transaction, the director now directly owns 3,655 shares of the company’s stock, valued at approximately $940,650.80. This represents a 9.27 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Eagle Materials

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Eagle Materials by 3.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,801,532 shares of the construction company’s stock valued at $444,546,000 after purchasing an additional 66,399 shares in the last quarter. Geode Capital Management LLC increased its stake in Eagle Materials by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 722,995 shares of the construction company’s stock valued at $178,450,000 after buying an additional 15,388 shares during the last quarter. Baupost Group LLC MA increased its position in shares of Eagle Materials by 27.6% during the fourth quarter. Baupost Group LLC MA now owns 638,223 shares of the construction company’s stock valued at $157,488,000 after acquiring an additional 137,950 shares during the last quarter. Federated Hermes Inc. boosted its position in Eagle Materials by 10.3% in the fourth quarter. Federated Hermes Inc. now owns 594,899 shares of the construction company’s stock worth $146,797,000 after purchasing an additional 55,578 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its position in shares of Eagle Materials by 2.4% during the 4th quarter. Epoch Investment Partners Inc. now owns 592,069 shares of the construction company’s stock valued at $146,099,000 after purchasing an additional 13,988 shares during the last quarter. 96.07% of the stock is 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.