MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Cuts Holdings in Eagle Materials Inc $EXP

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its holdings in shares of Eagle Materials Inc (NYSE:EXP) by 7.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 222,513 shares of the construction company’s stock after selling 17,936 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.67% of Eagle Materials worth $49,382,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Curi RMB Capital LLC raised its stake in shares of Eagle Materials by 3.2% during the 1st quarter. Curi RMB Capital LLC now owns 123,401 shares of the construction company’s stock worth $27,407,000 after buying an additional 3,825 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Eagle Materials by 33.8% during the 1st quarter. AQR Capital Management LLC now owns 73,931 shares of the construction company’s stock worth $15,923,000 after buying an additional 18,673 shares in the last quarter. Perbak Capital Partners LLP purchased a new position in shares of Eagle Materials during the 1st quarter worth approximately $288,000. Royal Bank of Canada increased its stake in Eagle Materials by 2.4% in the 1st quarter. Royal Bank of Canada now owns 51,498 shares of the construction company’s stock valued at $11,428,000 after purchasing an additional 1,210 shares in the last quarter. Finally, DRW Securities LLC purchased a new position in Eagle Materials in the 1st quarter valued at approximately $356,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Stock Performance

Eagle Materials stock opened at $242.50 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.26 and a current ratio of 2.73. The stock has a fifty day moving average of $224.32 and a two-hundred day moving average of $219.69. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 17.86 and a beta of 1.28. Eagle Materials Inc has a fifty-two week low of $191.91 and a fifty-two week high of $321.93.

Eagle Materials (NYSE:EXP) last released its quarterly earnings results on Tuesday, July 29th. The construction company reported $3.76 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.03. The company had revenue of $634.69 million during the quarter, compared to the consensus estimate of $611.52 million. Eagle Materials had a return on equity of 31.21% and a net margin of 19.81%. On average, analysts anticipate that Eagle Materials Inc will post 14.39 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Monday, September 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.00 annualized dividend and a yield of 0.4%. Eagle Materials’s dividend payout ratio (DPR) is presently 7.36%.

Analyst Upgrades and Downgrades

EXP has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price objective on Eagle Materials from $220.00 to $245.00 and gave the company a “neutral” rating in a research note on Tuesday, August 26th. Stephens set a $255.00 price objective on Eagle Materials and gave the company an “overweight” rating in a research note on Thursday, May 22nd. Stifel Nicolaus set a $241.00 target price on shares of Eagle Materials and gave the company a “hold” rating in a report on Wednesday, May 21st. Loop Capital raised their target price on shares of Eagle Materials from $230.00 to $245.00 and gave the company a “hold” rating in a report on Wednesday, July 30th. Finally, Wall Street Zen upgraded shares of Eagle Materials from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Eagle Materials currently has an average rating of “Hold” and a consensus target price of $254.78.

Eagle Materials Profile

Eagle Materials Inc, through its subsidiaries, manufactures and sells heavy construction materials and light building materials in the United States. It operates in four segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland cement, including Portland limestone cement; grinding and sale of slag; and mining of gypsum for the manufacture and sale of gypsum wallboards used to finish the interior walls and ceilings in residential, commercial, and industrial structures, as well as well as containerboard and lightweight packaging grades; manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and mining and sale of aggregates, such as crushed stone, sand, and gravel.