New Age Alpha Advisors LLC Buys Shares of 7,413 Eagle Materials Inc. (NYSE:EXP)

New Age Alpha Advisors LLC bought a new stake in Eagle Materials Inc. (NYSE:EXP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,413 shares of the construction company's stock, valued at approximately $1,829,000.

Several other hedge funds also recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in Eagle Materials by 60.3% during the 3rd 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 during the period. Norges Bank purchased a new position in shares of Eagle Materials in the fourth quarter valued at approximately $93,672,000. Raymond James Financial Inc. acquired a new position in shares of Eagle Materials in the fourth quarter valued at approximately $38,115,000. World Investment Advisors LLC acquired a new stake in Eagle Materials during the 3rd quarter worth approximately $34,846,000. Finally, Merewether Investment Management LP acquired a new position in shares of Eagle Materials in the third quarter worth $22,552,000. Hedge funds and other institutional investors own 96.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. DA Davidson reduced their price objective on shares of Eagle Materials from $265.00 to $260.00 and set a "neutral" rating on the stock in a report on Thursday, January 30th. JPMorgan Chase & Co. decreased their price target on Eagle Materials from $310.00 to $250.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Stephens reaffirmed an "overweight" rating and issued a $310.00 target price on shares of Eagle Materials in a research note on Thursday, January 30th. Citigroup lowered shares of Eagle Materials from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $334.00 to $280.00 in a report on Monday, January 6th. Finally, Stifel Nicolaus initiated coverage on Eagle Materials in a research note on Tuesday, March 4th. They set a "hold" rating and a $242.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $279.40.

Remove Ads

Eagle Materials Price Performance

Shares of NYSE EXP traded down $7.51 during mid-day trading on Friday, reaching $221.14. 157,872 shares of the company traded hands, compared to its average volume of 321,651. Eagle Materials Inc. has a fifty-two week low of $205.44 and a fifty-two week high of $321.93. The firm has a market cap of $7.36 billion, a PE ratio of 15.61 and a beta of 1.37. The stock has a fifty day simple moving average of $234.03 and a 200-day simple moving average of $264.43. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.76 and a quick ratio of 1.01.

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

Eagle Materials Dividend Announcement

The company 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 $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, March 17th. Eagle Materials's dividend payout ratio (DPR) is currently 7.14%.

Insider Buying and Selling at Eagle Materials

In other news, Director Michael R. Nicolais purchased 310 shares of the firm's stock in a transaction 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 completion of the acquisition, the director now directly owns 3,655 shares of the company's stock, valued at approximately $940,650.80. The trade was a 9.27 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.