Eagle Materials Inc $EXP Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its stake in shares of Eagle Materials Inc (NYSE:EXP) by 24.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,769 shares of the construction company’s stock after selling 18,221 shares during the quarter. Pictet Asset Management Holding SA owned about 0.18% of Eagle Materials worth $10,755,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clearstead Advisors LLC boosted its stake in Eagle Materials by 266.7% during the 4th quarter. Clearstead Advisors LLC now owns 132 shares of the construction company’s stock valued at $27,000 after purchasing an additional 96 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Eagle Materials by 389.3% in the 4th quarter. IFP Advisors Inc now owns 137 shares of the construction company’s stock worth $28,000 after buying an additional 109 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Eagle Materials in the 4th quarter worth $29,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Eagle Materials in the third quarter valued at $34,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Eagle Materials by 102.4% in the second quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company’s stock valued at $35,000 after buying an additional 87 shares during the period. Institutional investors own 96.07% of the company’s stock.

Eagle Materials Stock Performance

EXP opened at $220.88 on Friday. The firm has a market cap of $6.82 billion, a PE ratio of 16.83 and a beta of 1.37. The company has a quick ratio of 2.09, a current ratio of 3.66 and a debt-to-equity ratio of 1.18. The business has a fifty day simple moving average of $213.59 and a 200-day simple moving average of $211.80. Eagle Materials Inc has a fifty-two week low of $171.99 and a fifty-two week high of $245.53.

Eagle Materials (NYSE:EXP) last issued its earnings results on Tuesday, May 19th. The construction company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.32. The business had revenue of $479.11 million for the quarter, compared to analysts’ expectations of $451.99 million. Eagle Materials had a return on equity of 28.27% and a net margin of 18.36%.The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.00 EPS. As a group, equities analysts predict that Eagle Materials Inc will post 13.02 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, June 15th will be given a $0.25 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Eagle Materials’s dividend payout ratio (DPR) is 7.62%.

Analysts Set New Price Targets

Several research analysts recently weighed in on EXP shares. JPMorgan Chase & Co. raised Eagle Materials from an “underweight” rating to a “neutral” rating and set a $225.00 target price for the company in a research note on Tuesday, June 2nd. Wells Fargo & Company upped their price target on shares of Eagle Materials from $240.00 to $246.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Weiss Ratings restated a “hold (c)” rating on shares of Eagle Materials in a research report on Tuesday, June 16th. Royal Bank Of Canada lifted their price objective on shares of Eagle Materials from $208.00 to $219.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 20th. Finally, Wall Street Zen upgraded shares of Eagle Materials from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $224.30.

Eagle Materials Profile

Eagle Materials Inc (NYSE:EXP) is a Dallas, Texas–based manufacturer of building materials serving construction and heavy industry markets across the United States. The company’s primary products include portland and masonry cements, gypsum wallboard, lightweight aggregate, paperboard packaging, and roofing granules. These product lines support a wide range of end uses—from residential and commercial buildings to infrastructure projects and industrial applications.

Since its spin-off from a major homebuilding company in 2004, Eagle Materials has grown through targeted facility expansions and strategic acquisitions.