Fulton Bank N.A. Invests $227,000 in Eagle Materials Inc. (NYSE:EXP)

Fulton Bank N.A. acquired a new position in Eagle Materials Inc. (NYSE:EXP) in the first quarter, HoldingsChannel reports. The fund acquired 1,022 shares of the construction company’s stock, valued at approximately $227,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Two Sigma Advisers LP lifted its position in shares of Eagle Materials by 8.7% during the fourth quarter. Two Sigma Advisers LP now owns 22,400 shares of the construction company’s stock valued at $5,527,000 after buying an additional 1,800 shares during the last quarter. ArrowMark Colorado Holdings LLC purchased a new position in shares of Eagle Materials in the 4th quarter valued at approximately $28,778,000. Proficio Capital Partners LLC purchased a new position in shares of Eagle Materials in the 4th quarter valued at approximately $8,890,000. Two Sigma Investments LP raised its position in shares of Eagle Materials by 329.5% in the 4th quarter. Two Sigma Investments LP now owns 24,296 shares of the construction company’s stock valued at $5,995,000 after purchasing an additional 18,639 shares during the last quarter. Finally, Empowered Funds LLC raised its position in Eagle Materials by 242.4% during the 4th quarter. Empowered Funds LLC now owns 7,789 shares of the construction company’s stock worth $1,922,000 after buying an additional 5,514 shares during the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Trading Up 0.1%

Shares of EXP stock opened at $201.18 on Friday. The company’s 50-day moving average price is $220.48 and its 200-day moving average price is $241.01. The company has a current ratio of 2.76, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The stock has a market cap of $6.58 billion, a price-to-earnings ratio of 14.37 and a beta of 1.36. Eagle Materials Inc. has a twelve month low of $195.80 and a twelve month high of $321.93.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings data on Tuesday, May 20th. The construction company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($0.26). The company had revenue of $470.18 million during the quarter, compared to analysts’ expectations of $483.14 million. Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.24 earnings per share. As a group, equities analysts predict that Eagle Materials Inc. will post 14.39 earnings per share for the current year.

Eagle Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, June 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.50%. Eagle Materials’s dividend payout ratio (DPR) is presently 7.27%.

Analyst Ratings Changes

A number of equities analysts have issued reports on EXP shares. DA Davidson reduced their price target on shares of Eagle Materials from $260.00 to $245.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd. Stifel Nicolaus set a $241.00 price target on shares of Eagle Materials and gave the stock a “hold” rating in a research report on Wednesday, May 21st. Wall Street Zen cut shares of Eagle Materials from a “hold” rating to a “sell” rating in a research note on Saturday, May 24th. Loop Capital dropped their price objective on shares of Eagle Materials from $245.00 to $237.00 and set a “hold” rating on the stock in a research note on Wednesday, May 21st. Finally, Citigroup dropped their price objective on shares of Eagle Materials from $279.00 to $230.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Eagle Materials presently has an average rating of “Hold” and an average target price of $254.44.

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.