FMR LLC cut its stake in Eagle Materials, Inc. (NYSE:EXP) by 17.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,027,256 shares of the construction company’s stock after selling 417,418 shares during the quarter. FMR LLC owned approximately 4.42% of Eagle Materials worth $123,722,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Amalgamated Bank raised its stake in shares of Eagle Materials by 49.0% during the 4th quarter. Amalgamated Bank now owns 10,704 shares of the construction company’s stock worth $653,000 after buying an additional 3,519 shares during the period. Teachers Advisors LLC raised its stake in shares of Eagle Materials by 23.0% during the 3rd quarter. Teachers Advisors LLC now owns 72,951 shares of the construction company’s stock worth $6,218,000 after buying an additional 13,643 shares during the period. Broad Bay Capital Management LP acquired a new position in shares of Eagle Materials during the 4th quarter worth approximately $18,816,000. Dimensional Fund Advisors LP raised its stake in shares of Eagle Materials by 12.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 466,996 shares of the construction company’s stock worth $39,806,000 after buying an additional 52,527 shares during the period. Finally, California Public Employees Retirement System raised its stake in shares of Eagle Materials by 20.7% during the 4th quarter. California Public Employees Retirement System now owns 118,195 shares of the construction company’s stock worth $7,213,000 after buying an additional 20,307 shares during the period. 95.64% of the stock is owned by institutional investors.
Eagle Materials stock traded down $0.91 during midday trading on Wednesday, reaching $85.69. 52,774 shares of the stock traded hands, compared to its average volume of 803,262. Eagle Materials, Inc. has a 12-month low of $57.00 and a 12-month high of $115.75. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 1.86 and a beta of 1.34. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.26 and a quick ratio of 0.87.
Eagle Materials (NYSE:EXP) last announced its earnings results on Tuesday, January 29th. The construction company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.06). Eagle Materials had a net margin of 16.77% and a return on equity of 17.49%. The firm had revenue of $333.30 million for the quarter, compared to analysts’ expectations of $357.08 million. During the same quarter last year, the business earned $2.08 earnings per share. The business’s revenue was down 7.3% compared to the same quarter last year. Equities research analysts anticipate that Eagle Materials, Inc. will post 5.09 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Thursday, April 11th. Eagle Materials’s dividend payout ratio (DPR) is 9.48%.
In other Eagle Materials news, Director Ed H. Bowman, Jr. sold 2,591 shares of the stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $71.35, for a total value of $184,867.85. Following the sale, the director now owns 12,977 shares of the company’s stock, valued at approximately $925,908.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.70% of the company’s stock.
EXP has been the subject of several recent research reports. Zacks Investment Research raised Eagle Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. ValuEngine upgraded Eagle Materials from a “sell” rating to a “hold” rating in a report on Saturday, March 9th. Citigroup upped their target price on Eagle Materials from $84.00 to $87.00 and gave the company a “buy” rating in a report on Monday, April 1st. Macquarie set a $100.00 price target on Eagle Materials and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. began coverage on Eagle Materials in a report on Thursday, March 21st. They set a “neutral” rating and a $85.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $103.14.
Eagle Materials Profile
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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