Clearbridge Investments LLC Sells 8,031 Shares of Eagle Materials Inc. (NYSE:EXP)

Clearbridge Investments LLC trimmed its holdings in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) by 11.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,110 shares of the construction company's stock after selling 8,031 shares during the period. Clearbridge Investments LLC owned about 0.19% of Eagle Materials worth $15,820,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. increased its holdings in Eagle Materials by 1.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,981 shares of the construction company's stock worth $858,000 after acquiring an additional 41 shares during the last quarter. Sprott Inc. raised its position in shares of Eagle Materials by 3.0% in the fourth quarter. Sprott Inc. now owns 1,695 shares of the construction company's stock valued at $418,000 after purchasing an additional 50 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Eagle Materials by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,086 shares of the construction company's stock valued at $268,000 after buying an additional 54 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Eagle Materials by 10.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 569 shares of the construction company's stock worth $140,000 after buying an additional 56 shares during the period. Finally, National Bank of Canada FI grew its stake in Eagle Materials by 1.5% in the 3rd quarter. National Bank of Canada FI now owns 3,872 shares of the construction company's stock valued at $1,114,000 after buying an additional 57 shares in the last quarter. Institutional investors own 96.07% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on EXP shares. Loop Capital cut their price target on Eagle Materials from $280.00 to $245.00 and set a "hold" rating for the company in a report on Tuesday, April 1st. Jefferies Financial Group lowered Eagle Materials from a "buy" rating to a "hold" rating and reduced their target price for the company from $330.00 to $310.00 in a report on Monday, December 16th. Citigroup downgraded shares of Eagle Materials from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $334.00 to $280.00 in a report on Monday, January 6th. JPMorgan Chase & Co. decreased their target price on shares of Eagle Materials from $310.00 to $250.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. Finally, DA Davidson cut their price target on shares of Eagle Materials from $265.00 to $260.00 and set a "neutral" rating for the company in a report on Thursday, January 30th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $279.40.

Insider Activity at Eagle Materials

In related news, Director Michael R. Nicolais bought 310 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was bought at an average cost of $257.36 per share, for a total transaction 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 the SEC website. 1.60% of the stock is owned by insiders.

Eagle Materials Price Performance

NYSE EXP traded down $5.81 during trading hours on Monday, reaching $211.48. 614,445 shares of the stock traded hands, compared to its average volume of 326,295. 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 stock has a 50 day simple moving average of $232.17 and a two-hundred day simple moving average of $263.18. Eagle Materials Inc. has a 1 year low of $205.44 and a 1 year high of $321.93. The company has a market cap of $7.04 billion, a price-to-earnings ratio of 15.11 and a beta of 1.25.

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

Eagle Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 17th will be paid a $0.25 dividend. 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 0.47%. Eagle Materials's dividend payout ratio (DPR) is 7.14%.

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.