Eagle Materials Inc (NYSE:EXP) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. trimmed its holdings in Eagle Materials Inc (NYSE:EXP) by 3.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,379,953 shares of the construction company’s stock after selling 136,276 shares during the period. Vanguard Group Inc. owned 10.15% of Eagle Materials worth $750,113,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. GAMMA Investing LLC grew its stake in Eagle Materials by 26,787.7% during the 1st quarter. GAMMA Investing LLC now owns 181,761 shares of the construction company’s stock valued at $40,338,000 after acquiring an additional 181,085 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Eagle Materials by 111.1% in the first quarter. Victory Capital Management Inc. now owns 331,081 shares of the construction company’s stock valued at $73,477,000 after purchasing an additional 174,241 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Eagle Materials in the fourth quarter valued at approximately $38,115,000. Principal Financial Group Inc. lifted its position in Eagle Materials by 165.0% during the first quarter. Principal Financial Group Inc. now owns 206,019 shares of the construction company’s stock worth $45,722,000 after buying an additional 128,271 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC acquired a new position in Eagle Materials during the fourth quarter worth $28,778,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Citigroup cut their target price on Eagle Materials from $279.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, May 28th. Truist Financial dropped their price objective on shares of Eagle Materials from $330.00 to $280.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Stifel Nicolaus set a $241.00 target price on shares of Eagle Materials and gave the stock a “hold” rating in a research note on Wednesday, May 21st. Loop Capital boosted their target price on shares of Eagle Materials from $230.00 to $245.00 and gave the company a “hold” rating in a report on Wednesday, July 30th. Finally, Wall Street Zen upgraded shares of Eagle Materials from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $255.33.

Eagle Materials Price Performance

EXP stock opened at $233.56 on Wednesday. The business’s fifty day moving average price is $212.46 and its 200 day moving average price is $222.16. Eagle Materials Inc has a 12-month low of $191.91 and a 12-month high of $321.93. The company has a current ratio of 2.73, a quick ratio of 1.26 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $7.58 billion, a PE ratio of 17.20 and a beta of 1.24.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings results on Tuesday, July 29th. The construction company reported $3.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.73 by $0.03. The company had revenue of $634.69 million for the quarter, compared to analyst estimates of $611.52 million. Eagle Materials had a net margin of 19.81% and a return on equity of 31.21%. On average, sell-side analysts anticipate that Eagle Materials Inc will post 14.39 EPS for the current year.

Eagle Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Monday, September 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 15th. Eagle Materials’s dividend payout ratio (DPR) is presently 7.36%.

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.