First Mercantile Trust Co. cut its holdings in Eagle Materials, Inc. (NYSE:EXP) by 65.6% in the 3rd quarter, Holdings Channel reports. The firm owned 2,091 shares of the construction company’s stock after selling 3,994 shares during the period. First Mercantile Trust Co.’s holdings in Eagle Materials were worth $178,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of EXP. Advisory Services Network LLC raised its stake in shares of Eagle Materials by 4.5% during the second quarter. Advisory Services Network LLC now owns 12,881 shares of the construction company’s stock valued at $1,362,000 after acquiring an additional 560 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Eagle Materials by 31.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,580 shares of the construction company’s stock valued at $271,000 after acquiring an additional 622 shares during the last quarter. Amalgamated Bank raised its stake in shares of Eagle Materials by 7.1% during the second quarter. Amalgamated Bank now owns 11,272 shares of the construction company’s stock valued at $1,183,000 after acquiring an additional 749 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Eagle Materials by 4.2% during the second quarter. Oregon Public Employees Retirement Fund now owns 18,969 shares of the construction company’s stock valued at $1,991,000 after acquiring an additional 758 shares during the last quarter. Finally, Capital Analysts LLC raised its stake in shares of Eagle Materials by 7.3% during the third quarter. Capital Analysts LLC now owns 11,353 shares of the construction company’s stock valued at $968,000 after acquiring an additional 776 shares during the last quarter. 92.12% of the stock is owned by institutional investors and hedge funds.

EXP has been the subject of several recent analyst reports. Citigroup lowered their price objective on shares of Eagle Materials from $122.00 to $111.00 and set a “buy” rating for the company in a research note on Wednesday, October 31st. Jefferies Financial Group reaffirmed a “buy” rating and set a $125.00 price objective on shares of Eagle Materials in a research note on Thursday, October 4th. ValuEngine downgraded shares of Eagle Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, August 29th. Macquarie initiated coverage on shares of Eagle Materials in a research note on Wednesday, September 26th. They set a “buy” rating and a $105.00 price objective for the company. Finally, Zacks Investment Research downgraded shares of Eagle Materials from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 14th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $113.86.

EXP stock opened at $72.50 on Monday. Eagle Materials, Inc. has a 1 year low of $64.95 and a 1 year high of $122.49. The stock has a market capitalization of $3.39 billion, a P/E ratio of 12.90, a P/E/G ratio of 1.29 and a beta of 1.14. The company has a quick ratio of 1.28, a current ratio of 2.83 and a debt-to-equity ratio of 0.44.

Eagle Materials (NYSE:EXP) last released its quarterly earnings results on Tuesday, October 30th. The construction company reported $1.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.68 by ($0.15). Eagle Materials had a return on equity of 19.03% and a net margin of 19.54%. The company had revenue of $381.50 million during the quarter, compared to the consensus estimate of $401.04 million. During the same period in the previous year, the company earned $1.31 earnings per share. Eagle Materials’s quarterly revenue was up 1.4% on a year-over-year basis. On average, equities analysts anticipate that Eagle Materials, Inc. will post 5.5 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 25th. Investors of record on Friday, December 21st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Thursday, December 20th. Eagle Materials’s payout ratio is currently 9.48%.

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About Eagle Materials

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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Institutional Ownership by Quarter for Eagle Materials (NYSE:EXP)

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