TD Asset Management Inc Lowers Stock Position in Eagle Materials Inc $EXP

TD Asset Management Inc cut its stake in shares of Eagle Materials Inc (NYSE:EXP) by 12.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 357,820 shares of the construction company’s stock after selling 49,563 shares during the period. TD Asset Management Inc’s holdings in Eagle Materials were worth $73,954,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in EXP. Norges Bank purchased a new stake in shares of Eagle Materials during the 4th quarter valued at $90,147,000. Baupost Group LLC MA lifted its stake in shares of Eagle Materials by 39.0% in the third quarter. Baupost Group LLC MA now owns 939,660 shares of the construction company’s stock worth $218,978,000 after acquiring an additional 263,403 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Eagle Materials in the third quarter worth about $51,812,000. Cartenna Capital LP acquired a new position in shares of Eagle Materials in the third quarter worth about $29,480,000. Finally, Ameriprise Financial Inc. lifted its position in shares of Eagle Materials by 56.9% during the second quarter. Ameriprise Financial Inc. now owns 227,869 shares of the construction company’s stock worth $46,047,000 after purchasing an additional 82,679 shares during the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EXP. Jefferies Financial Group reaffirmed a “hold” rating and set a $200.00 price target on shares of Eagle Materials in a research report on Wednesday, May 20th. Zacks Research upgraded shares of Eagle Materials from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Wells Fargo & Company raised their price target on shares of Eagle Materials from $240.00 to $246.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Stephens dropped their price target on shares of Eagle Materials from $235.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 20th. Finally, Royal Bank Of Canada raised their price target on shares of Eagle Materials from $208.00 to $219.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $224.30.

Eagle Materials Trading Down 2.3%

Eagle Materials stock opened at $212.48 on Friday. The firm has a 50 day simple moving average of $202.62 and a 200-day simple moving average of $211.14. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.66 and a quick ratio of 2.09. The stock has a market capitalization of $6.58 billion, a PE ratio of 16.20 and a beta of 1.37. Eagle Materials Inc has a 12-month low of $171.99 and a 12-month high of $243.64.

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

Eagle Materials Announces Dividend

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