Vanguard Group Inc. Lowers Position in Eagle Materials Inc. (NYSE:EXP)

Vanguard Group Inc. lessened its stake in shares of Eagle Materials Inc. (NYSE:EXP) by 3.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,516,229 shares of the construction company’s stock after selling 108,984 shares during the period. Vanguard Group Inc. owned 10.56% of Eagle Materials worth $867,665,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Private Trust Co. NA grew its stake in shares of Eagle Materials by 53.0% during the 4th quarter. Private Trust Co. NA now owns 205 shares of the construction company’s stock valued at $51,000 after acquiring an additional 71 shares during the period. R Squared Ltd bought a new position in shares of Eagle Materials in the fourth quarter worth approximately $81,000. Smartleaf Asset Management LLC boosted its position in shares of Eagle Materials by 10.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 569 shares of the construction company’s stock worth $140,000 after purchasing an additional 56 shares during the period. GAMMA Investing LLC raised its position in shares of Eagle Materials by 10.6% during the 4th quarter. GAMMA Investing LLC now owns 676 shares of the construction company’s stock valued at $167,000 after purchasing an additional 65 shares during the period. Finally, Venturi Wealth Management LLC purchased a new position in shares of Eagle Materials during the 4th quarter valued at $170,000. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EXP shares. DA Davidson cut their price target on Eagle Materials from $265.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Citigroup downgraded Eagle Materials from a “buy” rating to a “neutral” rating and decreased their target price for the company from $334.00 to $280.00 in a research note on Monday, January 6th. Stifel Nicolaus assumed coverage on Eagle Materials in a research note on Tuesday, March 4th. They issued a “hold” rating and a $242.00 price target for the company. JPMorgan Chase & Co. reduced their price objective 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. Finally, Jefferies Financial Group lowered shares of Eagle Materials from a “buy” rating to a “hold” rating and dropped their target price for the stock from $330.00 to $310.00 in a research report on Monday, December 16th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Eagle Materials currently has a consensus rating of “Hold” and a consensus price target of $286.40.

Insider Transactions at Eagle Materials

In related news, Director Michael R. Nicolais purchased 310 shares of Eagle Materials stock in a transaction that occurred on Monday, February 10th. The shares were bought at an average price of $257.36 per share, with a total value of $79,781.60. Following the purchase, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Eagle Materials Price Performance

EXP stock opened at $221.02 on Friday. The stock has a market cap of $7.36 billion, a PE ratio of 15.79 and a beta of 1.37. Eagle Materials Inc. has a 12 month low of $205.44 and a 12 month high of $321.93. The company has a 50-day moving average price of $236.43 and a 200 day moving average price of $265.41. The company has a current ratio of 2.76, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66.

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

Eagle Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 17th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, March 17th. Eagle Materials’s dividend payout ratio (DPR) is presently 7.14%.

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.