Eagle Materials Inc. (NYSE:EXP) Position Trimmed by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. lowered its stake in Eagle Materials Inc. (NYSE:EXP) by 15.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,126 shares of the construction company’s stock after selling 200 shares during the period. Salem Investment Counselors Inc.’s holdings in Eagle Materials were worth $250,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Empowered Funds LLC raised its holdings in shares of Eagle Materials by 242.4% during the fourth quarter. Empowered Funds LLC now owns 7,789 shares of the construction company’s stock valued at $1,922,000 after acquiring an additional 5,514 shares during the period. Van ECK Associates Corp raised its stake in Eagle Materials by 41.7% during the 4th quarter. Van ECK Associates Corp now owns 31,865 shares of the construction company’s stock valued at $7,863,000 after purchasing an additional 9,380 shares during the period. Blue Trust Inc. raised its stake in Eagle Materials by 7.1% during the 4th quarter. Blue Trust Inc. now owns 920 shares of the construction company’s stock valued at $227,000 after purchasing an additional 61 shares during the period. Nations Financial Group Inc. IA ADV lifted its holdings in shares of Eagle Materials by 2.7% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 4,941 shares of the construction company’s stock valued at $1,219,000 after purchasing an additional 128 shares in the last quarter. Finally, Monument Capital Management boosted its position in shares of Eagle Materials by 1.2% in the fourth quarter. Monument Capital Management now owns 12,083 shares of the construction company’s stock worth $2,982,000 after buying an additional 141 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Eagle Materials Stock Performance

EXP stock opened at $195.80 on Friday. The firm has a 50 day moving average of $217.97 and a two-hundred day moving average of $236.54. Eagle Materials Inc. has a 12 month low of $194.62 and a 12 month high of $321.93. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of 13.99 and a beta of 1.28. 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) last issued its quarterly earnings data on Tuesday, May 20th. The construction company reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.26). The business had revenue of $470.18 million during the quarter, compared to the consensus estimate of $483.14 million. Eagle Materials had a return on equity of 34.14% and a net margin of 20.91%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.24 earnings per share. As a group, equities analysts anticipate that Eagle Materials Inc. will post 14.39 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders 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 annualized dividend and a dividend yield of 0.51%. Eagle Materials’s dividend payout ratio (DPR) is presently 7.27%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on EXP shares. Stephens set a $255.00 price objective on Eagle Materials and gave the stock an “overweight” rating in a research note on Thursday, May 22nd. Truist Financial decreased their price target on shares of Eagle Materials from $330.00 to $280.00 and set a “buy” rating for the company in a report on Thursday, April 24th. DA Davidson dropped their price objective on shares of Eagle Materials from $260.00 to $245.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Wall Street Zen lowered shares of Eagle Materials from a “hold” rating to a “sell” rating in a research note on Saturday, May 24th. Finally, Stifel Nicolaus set a $241.00 price target on shares of Eagle Materials and gave the company a “hold” rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $254.44.

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.