New Mexico Educational Retirement Board lowered its holdings in Eagle Materials, Inc. (NYSE:EXP) by 14.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,649 shares of the construction company’s stock after selling 1,600 shares during the period. New Mexico Educational Retirement Board’s holdings in Eagle Materials were worth $589,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in EXP. Federated Investors Inc. PA lifted its holdings in shares of Eagle Materials by 4,465.3% in the third quarter. Federated Investors Inc. PA now owns 721,461 shares of the construction company’s stock valued at $61,497,000 after purchasing an additional 705,658 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Eagle Materials by 83.5% in the third quarter. Wells Fargo & Company MN now owns 1,324,576 shares of the construction company’s stock valued at $112,908,000 after purchasing an additional 602,571 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Eagle Materials in the third quarter valued at $30,635,000. Bank of New York Mellon Corp lifted its holdings in shares of Eagle Materials by 12.1% in the second quarter. Bank of New York Mellon Corp now owns 2,532,411 shares of the construction company’s stock valued at $265,826,000 after purchasing an additional 273,645 shares in the last quarter. Finally, Rehmann Capital Advisory Group lifted its holdings in shares of Eagle Materials by 79,460.2% in the third quarter. Rehmann Capital Advisory Group now owns 206,061 shares of the construction company’s stock valued at $2,417,000 after purchasing an additional 205,802 shares in the last quarter. Institutional investors own 92.54% of the company’s stock.
Shares of NYSE:EXP opened at $71.53 on Friday. The company has a quick ratio of 0.87, a current ratio of 2.26 and a debt-to-equity ratio of 0.42. Eagle Materials, Inc. has a 1 year low of $57.00 and a 1 year high of $115.75. The firm has a market cap of $3.30 billion, a P/E ratio of 13.73, a PEG ratio of 1.86 and a beta of 1.35.
Eagle Materials (NYSE:EXP) last announced its quarterly earnings data on Tuesday, January 29th. The construction company reported $1.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.06). Eagle Materials had a return on equity of 17.49% and a net margin of 16.77%. The firm had revenue of $333.30 million for the quarter, compared to analysts’ expectations of $357.08 million. During the same quarter in the prior year, the business posted $2.08 earnings per share. Eagle Materials’s revenue was down 7.3% on a year-over-year basis. Analysts anticipate that Eagle Materials, Inc. will post 5.16 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.56%. The ex-dividend date is Thursday, April 11th. Eagle Materials’s payout ratio is 9.48%.
Several analysts recently issued reports on the company. Standpoint Research upgraded Eagle Materials from a “hold” rating to a “buy” rating in a report on Friday, October 12th. ValuEngine upgraded Eagle Materials from a “strong sell” rating to a “sell” rating in a report on Friday, November 2nd. Citigroup cut their price objective on Eagle Materials from $122.00 to $111.00 and set a “buy” rating for the company in a report on Wednesday, October 31st. Stifel Nicolaus reiterated a “buy” rating and set a $117.00 price objective on shares of Eagle Materials in a report on Monday, October 22nd. Finally, TheStreet lowered Eagle Materials from a “b-” rating to a “c+” rating in a report on Monday, October 29th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. Eagle Materials has an average rating of “Buy” and an average price target of $106.88.
In other Eagle Materials news, Director Ed H. Bowman, Jr. sold 2,591 shares of the stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $71.35, for a total transaction of $184,867.85. Following the transaction, the director now directly owns 12,977 shares of the company’s stock, valued at $925,908.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.70% of the company’s stock.
About Eagle Materials
Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials, light building materials, and materials used for oil and natural gas extraction in the United States. It operates in five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants.
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