Eagle Materials Inc $EXP Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its stake in Eagle Materials Inc (NYSE:EXP) by 4.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,108,407 shares of the construction company’s stock after selling 128,691 shares during the period. Vanguard Group Inc. owned approximately 9.69% of Eagle Materials worth $724,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc grew its holdings in Eagle Materials by 130.9% in the 3rd quarter. Versant Capital Management Inc now owns 127 shares of the construction company’s stock valued at $30,000 after buying an additional 72 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Eagle Materials by 7,750.0% in the second quarter. Hantz Financial Services Inc. now owns 157 shares of the construction company’s stock valued at $32,000 after purchasing an additional 155 shares during the period. MAI Capital Management increased its position in Eagle Materials by 3,060.0% during the second quarter. MAI Capital Management now owns 158 shares of the construction company’s stock worth $32,000 after purchasing an additional 153 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Eagle Materials by 102.4% during the second quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company’s stock worth $35,000 after purchasing an additional 87 shares during the period. Finally, Eastern Bank purchased a new position in Eagle Materials during the third quarter worth about $49,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on EXP shares. Wells Fargo & Company cut their price target on shares of Eagle Materials from $251.00 to $241.00 and set an “overweight” rating for the company in a report on Thursday, January 29th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $215.00 target price (down previously from $230.00) on shares of Eagle Materials in a research note on Monday, February 16th. Stephens reaffirmed an “equal weight” rating and issued a $245.00 price target on shares of Eagle Materials in a research note on Tuesday, January 20th. Truist Financial reissued a “hold” rating and set a $210.00 price objective (down from $280.00) on shares of Eagle Materials in a research report on Friday, December 19th. Finally, DA Davidson decreased their target price on shares of Eagle Materials from $225.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, February 2nd. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $228.36.

Eagle Materials Price Performance

EXP opened at $225.38 on Tuesday. The stock’s 50-day moving average price is $222.68 and its 200 day moving average price is $224.85. Eagle Materials Inc has a 12-month low of $191.91 and a 12-month high of $243.64. The company has a current ratio of 4.27, a quick ratio of 2.68 and a debt-to-equity ratio of 1.17. The firm has a market cap of $7.08 billion, a price-to-earnings ratio of 17.06 and a beta of 1.38.

Eagle Materials (NYSE:EXP) last released its earnings results on Thursday, January 29th. The construction company reported $3.22 earnings per share for the quarter, missing the consensus estimate of $3.32 by ($0.10). The firm had revenue of $555.96 million during the quarter, compared to analyst estimates of $556.41 million. Eagle Materials had a net margin of 18.70% and a return on equity of 28.96%. The business’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.59 earnings per share. As a group, sell-side analysts expect that Eagle Materials Inc will post 14.39 earnings per share for the current year.

Eagle Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Monday, March 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, March 16th. Eagle Materials’s dividend payout ratio is presently 7.57%.

Eagle Materials 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.