Eagle Materials Inc. (NYSE:EXP) Shares Sold by TD Asset Management Inc.

TD Asset Management Inc. cut its holdings in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) by 8.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 671,478 shares of the construction company's stock after selling 60,135 shares during the quarter. TD Asset Management Inc. owned 2.02% of Eagle Materials worth $165,694,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of EXP. Private Trust Co. NA raised its position in shares of Eagle Materials by 53.0% in the fourth quarter. Private Trust Co. NA now owns 205 shares of the construction company's stock worth $51,000 after acquiring an additional 71 shares during the period. R Squared Ltd acquired a new stake in shares of Eagle Materials during the 4th quarter valued at about $81,000. Smartleaf Asset Management LLC increased its stake in shares of 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 purchasing an additional 56 shares in the last quarter. GAMMA Investing LLC raised its holdings in Eagle Materials by 10.6% in the 4th quarter. GAMMA Investing LLC now owns 676 shares of the construction company's stock worth $167,000 after purchasing an additional 65 shares during the period. Finally, Venturi Wealth Management LLC purchased a new position in Eagle Materials during the fourth quarter worth approximately $170,000. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Eagle Materials Stock Performance

Eagle Materials stock traded down $4.81 during trading hours on Friday, reaching $221.02. 204,365 shares of the stock were exchanged, compared to its average volume of 317,918. The stock has a market cap of $7.36 billion, a P/E ratio of 15.79 and a beta of 1.37. The firm's 50 day moving average is $236.43 and its 200 day moving average is $265.41. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 2.76. Eagle Materials Inc. has a 52-week low of $205.44 and a 52-week high of $321.93.

Remove Ads

Eagle Materials (NYSE:EXP - Get Free Report) last announced 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 net margin of 20.91% and a return on equity of 34.14%. Analysts predict that Eagle Materials Inc. will post 14.39 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently announced 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 0.45%. Eagle Materials's dividend payout ratio (DPR) is currently 7.14%.

Insider Activity

In other news, Director Michael R. Nicolais acquired 310 shares of the business's stock in a transaction on Monday, February 10th. The shares were purchased at an average price 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. This represents a 9.27 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Citigroup cut Eagle Materials from a "buy" rating to a "neutral" rating and cut their price objective for the company from $334.00 to $280.00 in a research report on Monday, January 6th. Stifel Nicolaus assumed coverage on Eagle Materials in a report on Tuesday, March 4th. They issued a "hold" rating and a $242.00 price target for the company. Jefferies Financial Group cut Eagle Materials from a "buy" rating to a "hold" rating and dropped their price objective for the company from $330.00 to $310.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. decreased their target price 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. Finally, DA Davidson decreased their price target on shares of Eagle Materials from $265.00 to $260.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Eagle Materials currently has a consensus rating of "Hold" and a consensus target price of $286.40.

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.