Proficio Capital Partners LLC Acquires New Stake in Eagle Materials Inc. (NYSE:EXP)

Proficio Capital Partners LLC acquired a new position in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 36,027 shares of the construction company's stock, valued at approximately $8,890,000. Proficio Capital Partners LLC owned about 0.11% of Eagle Materials as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. FMR LLC grew its holdings in Eagle Materials by 30.1% during the 3rd quarter. FMR LLC now owns 3,801,257 shares of the construction company's stock valued at $1,093,432,000 after purchasing an additional 878,400 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Eagle Materials by 60.3% during the third quarter. JPMorgan Chase & Co. now owns 1,735,133 shares of the construction company's stock valued at $499,111,000 after acquiring an additional 652,836 shares in the last quarter. Baupost Group LLC MA increased its position in shares of Eagle Materials by 46.2% during the third quarter. Baupost Group LLC MA now owns 500,273 shares of the construction company's stock worth $143,904,000 after acquiring an additional 158,171 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of Eagle Materials in the third quarter worth about $34,846,000. Finally, Merewether Investment Management LP acquired a new stake in Eagle Materials during the 3rd quarter valued at approximately $22,552,000. Hedge funds and other institutional investors own 96.07% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on EXP shares. DA Davidson decreased their price target on Eagle Materials from $265.00 to $260.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. Loop Capital downgraded shares of Eagle Materials from a "buy" rating to a "hold" rating and set a $315.00 price objective on the stock. in a research report on Monday, November 25th. Stephens reiterated an "overweight" rating and set a $310.00 price target on shares of Eagle Materials in a research report on Thursday, January 30th. Stifel Nicolaus started coverage on shares of Eagle Materials in a research note on Tuesday, March 4th. They set a "hold" rating and a $242.00 price objective on the stock. Finally, Citigroup downgraded shares of Eagle Materials from a "buy" rating to a "neutral" rating and cut their price target for the company from $334.00 to $280.00 in a report on Monday, January 6th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $286.40.

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Eagle Materials Stock Up 1.5 %

Shares of EXP traded up $3.27 during midday trading on Wednesday, hitting $218.39. The stock had a trading volume of 235,684 shares, compared to its average volume of 354,636. Eagle Materials Inc. has a twelve month low of $205.44 and a twelve month high of $321.93. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.76 and a quick ratio of 1.01. The company has a 50 day simple moving average of $239.85 and a two-hundred day simple moving average of $266.79. The firm has a market cap of $7.27 billion, a price-to-earnings ratio of 15.60 and a beta of 1.37.

Eagle Materials (NYSE:EXP - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The construction company reported $3.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.97 by ($0.38). Eagle Materials had a return on equity of 34.14% and a net margin of 20.91%. On average, analysts anticipate that Eagle Materials Inc. will post 14.39 EPS for the current year.

Eagle Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 17th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. Eagle Materials's payout ratio is 7.14%.

Insider Buying and Selling at Eagle Materials

In other Eagle Materials news, Director Michael R. Nicolais bought 310 shares of Eagle Materials stock in a transaction on Monday, February 10th. The shares were purchased at an average cost of $257.36 per share, with a total value of $79,781.60. Following the acquisition, the director now directly owns 3,655 shares of the company's stock, valued at $940,650.80. The trade was a 9.27 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.60% of the company's stock.

About Eagle Materials

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.