Norges Bank Takes Position in Eagle Materials Inc. (NYSE:EXP)

Norges Bank bought a new position in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 379,606 shares of the construction company's stock, valued at approximately $93,672,000. Norges Bank owned 1.14% of Eagle Materials as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of EXP. Coldstream Capital Management Inc. raised its position in shares of Eagle Materials by 1.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,981 shares of the construction company's stock worth $858,000 after purchasing an additional 41 shares during the last quarter. Sprott Inc. increased its holdings in shares of Eagle Materials by 3.0% during the 4th quarter. Sprott Inc. now owns 1,695 shares of the construction company's stock worth $418,000 after buying an additional 50 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Eagle Materials by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,086 shares of the construction company's stock valued at $268,000 after acquiring an additional 54 shares during the last quarter. Smartleaf Asset Management LLC raised 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 valued at $140,000 after buying an additional 56 shares during the period. Finally, National Bank of Canada FI lifted its position in 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 buying an additional 57 shares during the last quarter. Institutional investors and hedge funds own 96.07% of the company's stock.

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Eagle Materials Stock Performance

Shares of Eagle Materials stock traded down $11.11 on Friday, hitting $217.54. The stock had a trading volume of 914,317 shares, compared to its average volume of 325,142. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 15.54 and a beta of 1.25. Eagle Materials Inc. has a 52-week low of $205.44 and a 52-week high of $321.93. The company's 50 day moving average price is $233.13 and its 200 day moving average price is $263.75. The company has a current ratio of 2.76, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66.

Eagle Materials (NYSE:EXP - Get Free Report) last announced its 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 return on equity of 34.14% and a net margin of 20.91%. On average, research analysts anticipate that Eagle Materials Inc. will post 14.39 EPS for the current year.

Eagle Materials Dividend Announcement

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

Insider Activity

In other news, Director Michael R. Nicolais acquired 310 shares of Eagle Materials stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average price 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 approximately $940,650.80. This trade represents a 9.27 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company's stock.

Analyst Ratings Changes

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