Wells Fargo & Company MN Sells 59,901 Shares of Eagle Materials Inc. (NYSE:EXP)

Wells Fargo & Company MN trimmed its stake in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) by 31.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 132,376 shares of the construction company's stock after selling 59,901 shares during the period. Wells Fargo & Company MN owned about 0.40% of Eagle Materials worth $32,665,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Private Trust Co. NA increased its position in Eagle Materials by 53.0% during the 4th quarter. Private Trust Co. NA now owns 205 shares of the construction company's stock worth $51,000 after purchasing an additional 71 shares in the last quarter. Huntington National Bank raised its position in Eagle Materials by 154.8% in the fourth quarter. Huntington National Bank now owns 237 shares of the construction company's stock valued at $58,000 after purchasing an additional 144 shares during the period. R Squared Ltd purchased a new position in shares of Eagle Materials in the fourth quarter valued at $81,000. Smartleaf Asset Management LLC grew its stake in Eagle Materials by 10.9% during 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. Finally, GAMMA Investing LLC raised its stake in shares of Eagle Materials by 10.6% in the 4th quarter. GAMMA Investing LLC now owns 676 shares of the construction company's stock valued at $167,000 after purchasing an additional 65 shares in the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insider Activity at Eagle Materials

In other news, Director Michael R. Nicolais acquired 310 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average cost of $257.36 per share, with a total value of $79,781.60. Following the acquisition, the director now owns 3,655 shares in the company, valued at approximately $940,650.80. This represents a 9.27 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is owned by company insiders.

Eagle Materials Price Performance

EXP stock traded down $2.25 on Tuesday, hitting $224.70. 155,000 shares of the company's stock traded hands, compared to its average volume of 330,591. Eagle Materials Inc. has a 1-year low of $201.61 and a 1-year high of $321.93. The stock has a fifty day moving average of $226.93 and a 200-day moving average of $260.04. The stock has a market cap of $7.48 billion, a price-to-earnings ratio of 16.05 and a beta of 1.25. 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 EPS for the quarter, missing the consensus estimate 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, analysts forecast that Eagle Materials Inc. will post 14.39 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 14th. Shareholders of record on Monday, March 17th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Monday, March 17th. Eagle Materials's dividend payout ratio is 7.14%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on EXP shares. DA Davidson cut their target price on shares of Eagle Materials from $265.00 to $260.00 and set a "neutral" rating on the stock in a report on Thursday, January 30th. Citigroup downgraded shares of Eagle Materials from a "buy" rating to a "neutral" rating and reduced their price target for the company from $334.00 to $280.00 in a report on Monday, January 6th. Stephens reiterated an "overweight" rating and issued a $310.00 price objective on shares of Eagle Materials in a research report on Thursday, January 30th. Loop Capital decreased their target price on shares of Eagle Materials from $280.00 to $245.00 and set a "hold" rating for the company in a research report on Tuesday, April 1st. Finally, Stifel Nicolaus started coverage on Eagle Materials in a research report on Tuesday, March 4th. They set a "hold" rating and a $242.00 price objective 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 MarketBeat.com, Eagle Materials presently has a consensus rating of "Hold" and an average target price 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.