Norges Bank Acquires New Holdings in Eagle Materials Inc $EXP

Norges Bank acquired a new stake in shares of Eagle Materials Inc (NYSE:EXP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 436,166 shares of the construction company’s stock, valued at approximately $90,147,000. Norges Bank owned approximately 1.39% of Eagle Materials at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Clearstead Advisors LLC raised its stake in Eagle Materials by 266.7% in the fourth quarter. Clearstead Advisors LLC now owns 132 shares of the construction company’s stock valued at $27,000 after buying an additional 96 shares during the last quarter. IFP Advisors Inc raised its stake in Eagle Materials by 389.3% in the fourth quarter. IFP Advisors Inc now owns 137 shares of the construction company’s stock valued at $28,000 after buying an additional 109 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Eagle Materials in the third quarter valued at about $30,000. Measured Wealth Private Client Group LLC purchased a new stake in Eagle Materials in the third quarter valued at about $34,000. Finally, EverSource Wealth Advisors LLC raised its stake in Eagle Materials by 102.4% in the second quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company’s stock valued at $35,000 after buying an additional 87 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on EXP. Jefferies Financial Group reiterated a “hold” rating and issued a $200.00 price target on shares of Eagle Materials in a research note on Wednesday, May 20th. Wall Street Zen upgraded Eagle Materials from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Royal Bank Of Canada increased their price target on Eagle Materials from $208.00 to $219.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 20th. Wells Fargo & Company increased their price target on Eagle Materials from $240.00 to $246.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Finally, JPMorgan Chase & Co. upgraded Eagle Materials from an “underweight” rating to a “neutral” rating and set a $225.00 price target for the company in a research note on Tuesday. One research analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $224.30.

Eagle Materials Trading Down 2.3%

Shares of NYSE:EXP opened at $212.48 on Friday. Eagle Materials Inc has a 52-week low of $171.99 and a 52-week high of $243.64. The stock has a market cap of $6.58 billion, a price-to-earnings ratio of 16.20 and a beta of 1.37. The company has a quick ratio of 2.09, a current ratio of 3.66 and a debt-to-equity ratio of 1.18. The business has a 50-day moving average price of $202.62 and a 200-day moving average price of $211.14.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings data on Tuesday, May 19th. The construction company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.32. Eagle Materials had a return on equity of 28.27% and a net margin of 18.36%.The firm had revenue of $479.11 million during the quarter, compared to analysts’ expectations of $451.99 million. During the same period last year, the business posted $2.00 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts predict that Eagle Materials Inc will post 13.02 EPS for the current year.

Eagle Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Monday, June 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, June 15th. Eagle Materials’s dividend payout ratio (DPR) is presently 7.62%.

Eagle Materials Company Profile

Eagle Materials Inc (NYSE:EXP) is a Dallas, Texas–based manufacturer of building materials serving construction and heavy industry markets across the United States. The company’s primary products include portland and masonry cements, gypsum wallboard, lightweight aggregate, paperboard packaging, and roofing granules. These product lines support a wide range of end uses—from residential and commercial buildings to infrastructure projects and industrial applications.

Since its spin-off from a major homebuilding company in 2004, Eagle Materials has grown through targeted facility expansions and strategic acquisitions.