Premier Fund Managers Ltd Cuts Stock Position in Eagle Materials Inc. (NYSE:EXP)

Premier Fund Managers Ltd decreased its position in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) by 9.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,281 shares of the construction company's stock after selling 2,099 shares during the quarter. Premier Fund Managers Ltd owned approximately 0.06% of Eagle Materials worth $4,748,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in EXP. Citigroup Inc. grew its stake in shares of Eagle Materials by 34.6% during the third quarter. Citigroup Inc. now owns 21,828 shares of the construction company's stock worth $6,279,000 after purchasing an additional 5,614 shares during the period. Cerity Partners LLC grew its holdings in Eagle Materials by 23.8% during the third quarter. Cerity Partners LLC now owns 13,924 shares of the construction company's stock valued at $4,005,000 after purchasing an additional 2,679 shares during the period. Harvest Fund Management Co. Ltd raised its stake in Eagle Materials by 789.9% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 703 shares of the construction company's stock worth $202,000 after buying an additional 624 shares during the period. FMR LLC lifted its holdings in shares of 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. Finally, Townsquare Capital LLC bought a new stake in Eagle Materials during the 3rd quarter worth approximately $241,000. 96.07% of the stock is owned by institutional investors and hedge funds.

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Eagle Materials Stock Performance

EXP stock traded up $2.02 during mid-day trading on Tuesday, hitting $223.95. 76,362 shares of the company were exchanged, compared to its average volume of 356,034. Eagle Materials Inc. has a 1-year low of $205.44 and a 1-year high of $321.93. The stock has a market capitalization of $7.45 billion, a PE ratio of 15.98 and a beta of 1.37. The business has a 50 day simple moving average of $235.73 and a 200-day simple moving average of $265.19. 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 posted its quarterly earnings data on Wednesday, January 29th. The construction company reported $3.59 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, equities analysts forecast that Eagle Materials Inc. will post 14.39 earnings per share for the current year.

Eagle Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 17th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, March 17th. Eagle Materials's dividend payout ratio is currently 7.14%.

Insider Transactions at Eagle Materials

In other Eagle Materials news, Director Michael R. Nicolais purchased 310 shares of Eagle Materials stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average price of $257.36 per share, with a total value of $79,781.60. Following the transaction, the director now owns 3,655 shares in the company, valued at $940,650.80. This trade represents a 9.27 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company's stock.

Analyst Ratings Changes

EXP has been the subject of several recent research reports. DA Davidson reduced their price objective on Eagle Materials from $265.00 to $260.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Loop Capital reduced their price target on Eagle Materials from $280.00 to $245.00 and set a "hold" rating for the company in a research report on Tuesday. JPMorgan Chase & Co. cut their price objective on shares of Eagle Materials from $310.00 to $250.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. Stifel Nicolaus initiated coverage on shares of Eagle Materials in a research report on Tuesday, March 4th. They issued a "hold" rating and a $242.00 target price for the company. Finally, Jefferies Financial Group downgraded shares of Eagle Materials from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $330.00 to $310.00 in a research note on Monday, December 16th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Eagle Materials presently has a consensus rating of "Hold" and a consensus target price of $279.40.

Eagle Materials Company 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.