Walleye Capital LLC Sells 8,327 Shares of Eagle Materials Inc $EXP

Walleye Capital LLC lessened its stake in Eagle Materials Inc (NYSE:EXP) by 59.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 5,744 shares of the construction company’s stock after selling 8,327 shares during the quarter. Walleye Capital LLC’s holdings in Eagle Materials were worth $1,088,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Caisse de depot et placement du Quebec raised its position in shares of Eagle Materials by 3.6% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,426 shares of the construction company’s stock valued at $332,000 after buying an additional 50 shares in the last quarter. Signaturefd LLC grew its position in Eagle Materials by 15.8% in the fourth quarter. Signaturefd LLC now owns 389 shares of the construction company’s stock worth $80,000 after acquiring an additional 53 shares in the last quarter. GAMMA Investing LLC grew its position in Eagle Materials by 5.9% in the fourth quarter. GAMMA Investing LLC now owns 1,048 shares of the construction company’s stock worth $217,000 after acquiring an additional 58 shares in the last quarter. M&T Bank Corp increased its stake in Eagle Materials by 2.6% in the fourth quarter. M&T Bank Corp now owns 2,406 shares of the construction company’s stock valued at $498,000 after acquiring an additional 61 shares during the last quarter. Finally, QRG Capital Management Inc. raised its position in Eagle Materials by 7.0% during the first quarter. QRG Capital Management Inc. now owns 1,294 shares of the construction company’s stock valued at $245,000 after purchasing an additional 85 shares in the last quarter. Institutional investors own 96.07% of the company’s stock.

Eagle Materials Trading Up 3.0%

NYSE EXP opened at $213.34 on Friday. Eagle Materials Inc has a 1-year low of $171.99 and a 1-year high of $245.53. The company has a current ratio of 3.66, a quick ratio of 2.09 and a debt-to-equity ratio of 1.18. The stock has a 50-day moving average of $213.86 and a 200-day moving average of $211.04. The firm has a market cap of $6.59 billion, a PE ratio of 16.26 and a beta of 1.37.

Eagle Materials (NYSE:EXP) last issued its earnings results on Tuesday, May 19th. The construction company reported $1.91 earnings per share for the quarter, beating 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 company had revenue of $479.11 million during the quarter, compared to analysts’ expectations of $451.99 million. During the same period in the prior year, the business posted $2.00 EPS. Eagle Materials’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Eagle Materials Inc will post 12.9 EPS for the current year.

Eagle Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Monday, June 15th were given a $0.25 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.00 annualized dividend and a yield of 0.5%. Eagle Materials’s payout ratio is presently 7.62%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on EXP shares. Wells Fargo & Company cut their price objective on Eagle Materials from $246.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday, July 8th. Wall Street Zen upgraded Eagle Materials from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Citigroup upped their target price on Eagle Materials from $217.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. upgraded shares of Eagle Materials from an “underweight” rating to a “neutral” rating and set a $225.00 price target on the stock in a research report on Tuesday, June 2nd. Finally, Zacks Research raised shares of Eagle Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $226.00.

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.