Vestcor Inc Trims Stock Position in Eagle Materials Inc. (NYSE:EXP)

Vestcor Inc reduced its holdings in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) by 52.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,460 shares of the construction company's stock after selling 2,667 shares during the period. Vestcor Inc's holdings in Eagle Materials were worth $607,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. HighTower Advisors LLC lifted its position in Eagle Materials by 18.5% during the fourth quarter. HighTower Advisors LLC now owns 3,420 shares of the construction company's stock valued at $844,000 after buying an additional 533 shares during the period. AGF Management Ltd. lifted its position in Eagle Materials by 2.3% during the fourth quarter. AGF Management Ltd. now owns 59,599 shares of the construction company's stock valued at $14,707,000 after buying an additional 1,361 shares during the period. King Luther Capital Management Corp lifted its position in Eagle Materials by 13.4% during the fourth quarter. King Luther Capital Management Corp now owns 52,787 shares of the construction company's stock valued at $13,026,000 after buying an additional 6,225 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Eagle Materials by 4.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,222 shares of the construction company's stock worth $1,535,000 after purchasing an additional 237 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Eagle Materials by 21.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,465 shares of the construction company's stock worth $855,000 after purchasing an additional 610 shares during the last quarter. Institutional investors own 96.07% of the company's stock.

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Insider Buying and Selling

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

Eagle Materials Trading Down 0.5 %

EXP traded down $1.03 during trading on Thursday, reaching $217.10. The company had a trading volume of 304,890 shares, compared to its average volume of 306,091. The stock has a market cap of $7.23 billion, a P/E ratio of 15.51 and a beta of 1.37. The business has a 50 day simple moving average of $239.45 and a 200-day simple moving average of $266.45. Eagle Materials Inc. has a 52 week low of $205.44 and a 52 week high of $321.93. The company has a quick ratio of 1.01, a current ratio of 2.76 and a debt-to-equity ratio of 0.66.

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

Eagle Materials Dividend Announcement

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 issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, March 17th. Eagle Materials's dividend payout ratio is presently 7.14%.

Analyst Ratings Changes

Several research firms have recently issued reports on EXP. Citigroup lowered Eagle Materials from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $334.00 to $280.00 in a research report on Monday, January 6th. Loop Capital downgraded Eagle Materials from a "buy" rating to a "hold" rating and set a $315.00 price objective for the company. in a report on Monday, November 25th. Stephens reiterated an "overweight" rating and issued a $310.00 price objective on shares of Eagle Materials in a report on Thursday, January 30th. 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 report on Thursday, January 30th. Finally, Stifel Nicolaus initiated coverage on Eagle Materials in a report on Tuesday, March 4th. They issued a "hold" rating and a $242.00 price objective 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $286.40.

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.