Vanguard Group Inc. Cuts Stake in Eagle Materials Inc. (NYSE:EXP)

Vanguard Group Inc. reduced its stake in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,516,229 shares of the construction company's stock after selling 108,984 shares during the quarter. Vanguard Group Inc. owned 10.56% of Eagle Materials worth $867,665,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Private Trust Co. NA raised its position in Eagle Materials by 53.0% during 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 position in shares of Eagle Materials during the 4th quarter valued at about $81,000. Smartleaf Asset Management LLC grew its holdings in shares of Eagle Materials by 10.9% in 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. GAMMA Investing LLC increased its holdings in shares of Eagle Materials by 10.6% during the 4th quarter. GAMMA Investing LLC now owns 676 shares of the construction company's stock worth $167,000 after buying an additional 65 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in Eagle Materials in the fourth quarter valued at approximately $170,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Price Performance

Eagle Materials stock traded up $5.49 during midday trading on Tuesday, reaching $227.42. 390,996 shares of the company were exchanged, compared to its average volume of 360,990. The firm's 50-day simple moving average is $235.73 and its 200-day simple moving average is $265.19. Eagle Materials Inc. has a 1 year low of $205.44 and a 1 year high of $321.93. The company has a market capitalization of $7.57 billion, a price-to-earnings ratio of 16.24 and a beta of 1.37. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 2.76.

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Eagle Materials (NYSE:EXP - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The construction company reported $3.59 earnings per share 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%. On average, analysts anticipate that Eagle Materials Inc. will post 14.39 EPS for the current year.

Eagle Materials Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EXP. Jefferies Financial Group cut shares of Eagle Materials from a "buy" rating to a "hold" rating and dropped their price target for the company from $330.00 to $310.00 in a research report on Monday, December 16th. Loop Capital reduced their price target on Eagle Materials from $280.00 to $245.00 and set a "hold" rating on the stock in a research report on Tuesday. Stephens reiterated an "overweight" rating and set a $310.00 target price on shares of Eagle Materials in a research note on Thursday, January 30th. DA Davidson lowered their price target on Eagle Materials from $265.00 to $260.00 and set a "neutral" rating for the company in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. cut their target price on Eagle Materials from $310.00 to $250.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $279.40.

Insider Activity

In related news, Director Michael R. Nicolais purchased 310 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average price of $257.36 per share, with a total value of $79,781.60. Following the completion of the transaction, the director now owns 3,655 shares of the company's stock, valued at approximately $940,650.80. This trade represents a 9.27 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.