KLP Kapitalforvaltning AS Buys Shares of 7,900 Eagle Materials Inc. (NYSE:EXP)

KLP Kapitalforvaltning AS purchased a new stake in Eagle Materials Inc. (NYSE:EXP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,900 shares of the construction company's stock, valued at approximately $1,951,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of EXP. Coldstream Capital Management Inc. grew its position in Eagle Materials by 1.4% during the third quarter. Coldstream Capital Management Inc. now owns 2,981 shares of the construction company's stock worth $858,000 after buying an additional 41 shares in the last quarter. Sprott Inc. lifted its position in shares of Eagle Materials by 3.0% in the 4th quarter. Sprott Inc. now owns 1,695 shares of the construction company's stock worth $418,000 after acquiring an additional 50 shares during the period. CIBC Asset Management Inc grew its holdings 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 worth $268,000 after purchasing an additional 54 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Eagle Materials by 10.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 569 shares of the construction company's stock valued at $140,000 after purchasing an additional 56 shares during the period. Finally, National Bank of Canada FI raised its stake in shares of Eagle Materials by 1.5% in the third quarter. National Bank of Canada FI now owns 3,872 shares of the construction company's stock valued at $1,114,000 after purchasing an additional 57 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other news, Director Michael R. Nicolais acquired 310 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average cost of $257.36 per share, for a total transaction of $79,781.60. Following the completion of the transaction, the director now directly owns 3,655 shares in the company, valued at $940,650.80. This trade represents a 9.27 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Eagle Materials Price Performance

EXP traded up $5.49 during trading on Tuesday, hitting $227.42. The company's stock had a trading volume of 390,996 shares, compared to its average volume of 319,174. The company has a quick ratio of 1.01, a current ratio of 2.76 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $7.57 billion, a price-to-earnings ratio of 16.24 and a beta of 1.37. The firm's 50 day moving average price is $235.12 and its two-hundred day moving average price is $264.88. Eagle Materials Inc. has a 12 month low of $205.44 and a 12 month high of $321.93.

Eagle Materials (NYSE:EXP - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The construction company reported $3.59 earnings per share (EPS) 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%. Sell-side analysts forecast that Eagle Materials Inc. will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 17th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, March 17th. Eagle Materials's dividend payout ratio is currently 7.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on EXP shares. JPMorgan Chase & Co. decreased their price target on shares of Eagle Materials from $310.00 to $250.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Jefferies Financial Group lowered shares of Eagle Materials from a "buy" rating to a "hold" rating and decreased their target price for the company from $330.00 to $310.00 in a research report on Monday, December 16th. Loop Capital dropped their price target on shares of Eagle Materials from $280.00 to $245.00 and set a "hold" rating for the company in a research report on Tuesday. DA Davidson decreased their price objective on Eagle Materials from $265.00 to $260.00 and set a "neutral" rating on the stock in a report on Thursday, January 30th. Finally, Stifel Nicolaus assumed coverage on Eagle Materials in a research note on Tuesday, March 4th. They issued a "hold" rating and a $242.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Eagle Materials has a consensus rating of "Hold" and an average target price of $279.40.

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.