Zacks Investment Research upgraded shares of Eagle Materials (NYSE:EXP) from a sell rating to a hold rating in a research note released on Tuesday, Zacks.com reports.

According to Zacks, “Eagle Materials Inc. manufactures and distributes Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants from more than 75 facilities across the US. The Company’s Cement and Concrete and Aggregates segments participate in the construction products sector; Gypsum Wallboard and Recycled Paperboard segments participate in the building materials sector; and Oil and Gas Proppants segment participates in the oil and gas exploration sector. Eagle Materials manufactures and distributes concrete and aggregates products that are used in highway construction and maintenance and to construct residential and commercial buildings. Eagle operates aggregates quarries and concrete plants in central Texas, northern California, Kansas and Missouri. Eagle Materials is committed to building a low delivered-cost Northern white sand supply system for the energy sector. “

A number of other equities research analysts have also weighed in on the company. Raymond James raised Eagle Materials from a market perform rating to an outperform rating and set a $95.00 target price for the company in a research report on Friday, April 5th. Berenberg Bank began coverage on Eagle Materials in a research report on Wednesday, April 3rd. They set a buy rating and a $103.00 target price for the company. Macquarie set a $100.00 target price on Eagle Materials and gave the company a buy rating in a research report on Tuesday, April 2nd. DA Davidson lowered Eagle Materials from a buy rating to a neutral rating and set a $83.50 target price for the company. in a research report on Tuesday, April 2nd. Finally, Citigroup lifted their price target on Eagle Materials from $84.00 to $87.00 and gave the company a buy rating in a report on Monday, April 1st. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $103.14.

Shares of EXP stock opened at $84.47 on Tuesday. Eagle Materials has a 52-week low of $57.00 and a 52-week high of $115.75. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.26 and a quick ratio of 0.87. The company has a market cap of $3.94 billion, a P/E ratio of 20.02, a price-to-earnings-growth ratio of 1.85 and a beta of 1.34.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings results on Tuesday, January 29th. The construction company reported $1.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($0.06). The business had revenue of $333.30 million for the quarter, compared to the consensus estimate of $357.08 million. Eagle Materials had a return on equity of 17.49% and a net margin of 16.77%. Eagle Materials’s revenue was down 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.08 earnings per share. Research analysts expect that Eagle Materials will post 5.09 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.47%. Eagle Materials’s dividend payout ratio is presently 9.48%.

In other news, Director Ed H. Bowman, Jr. sold 2,591 shares of Eagle Materials stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $71.35, for a total value of $184,867.85. Following the transaction, the director now directly owns 12,977 shares in the company, valued at approximately $925,908.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.70% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Eagle Materials by 1.1% during the 4th quarter. BlackRock Inc. now owns 4,328,050 shares of the construction company’s stock worth $264,142,000 after buying an additional 45,955 shares during the last quarter. Vanguard Group Inc. grew its stake in Eagle Materials by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,133,226 shares of the construction company’s stock worth $352,316,000 after buying an additional 44,654 shares during the last quarter. Vanguard Group Inc grew its stake in Eagle Materials by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 4,133,226 shares of the construction company’s stock worth $352,316,000 after buying an additional 44,654 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Eagle Materials by 4.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,299,538 shares of the construction company’s stock worth $140,339,000 after buying an additional 94,338 shares during the last quarter. Finally, Federated Investors Inc. PA grew its stake in Eagle Materials by 4,465.3% during the 3rd quarter. Federated Investors Inc. PA now owns 721,461 shares of the construction company’s stock worth $61,497,000 after buying an additional 705,658 shares during the last quarter. Hedge funds and other institutional investors own 95.68% of the company’s stock.

About Eagle Materials

Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials, light building materials, and materials used for oil and natural gas extraction in the United States. It operates in five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants.

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