First Trust Advisors LP cut its stake in shares of Eagle Materials, Inc. (NYSE:EXP) by 21.3% during the 4th quarter, HoldingsChannel reports. The fund owned 52,596 shares of the construction company’s stock after selling 14,271 shares during the period. First Trust Advisors LP’s holdings in Eagle Materials were worth $3,210,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC acquired a new position in Eagle Materials during the 4th quarter worth approximately $35,000. Cerebellum GP LLC lifted its position in Eagle Materials by 10.4% during the 4th quarter. Cerebellum GP LLC now owns 2,373 shares of the construction company’s stock worth $145,000 after acquiring an additional 223 shares in the last quarter. Rehmann Capital Advisory Group raised its position in shares of Eagle Materials by 833.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 2,417 shares of the construction company’s stock valued at $206,000 after purchasing an additional 2,158 shares in the last quarter. Sun Life Financial INC acquired a new position in shares of Eagle Materials in the 4th quarter valued at approximately $151,000. Finally, Zeke Capital Advisors LLC acquired a new position in shares of Eagle Materials in the 3rd quarter valued at approximately $248,000. 94.82% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Ed H. Bowman, Jr. sold 2,591 shares of the business’s stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $71.35, for a total value of $184,867.85. Following the completion of the sale, the director now directly owns 12,977 shares in the company, valued at approximately $925,908.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is currently owned by insiders.
Eagle Materials (NYSE:EXP) last announced its earnings results on Tuesday, January 29th. The construction company reported $1.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($0.06). Eagle Materials had a net margin of 16.77% and a return on equity of 17.49%. The business had revenue of $333.30 million during the quarter, compared to analyst estimates of $357.08 million. During the same period in the previous year, the company earned $2.08 earnings per share. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. Sell-side analysts expect that Eagle Materials, Inc. will post 5.1 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.56%. Eagle Materials’s dividend payout ratio (DPR) is 9.48%.
EXP has been the topic of a number of recent analyst reports. ValuEngine raised Eagle Materials from a “sell” rating to a “hold” rating in a research report on Saturday, March 9th. Longbow Research lowered Eagle Materials from a “buy” rating to a “neutral” rating in a research report on Thursday. DA Davidson upped their target price on Eagle Materials to $90.00 and gave the company a “buy” rating in a research report on Wednesday, January 2nd. Northcoast Research lowered Eagle Materials from a “buy” rating to a “neutral” rating in a research report on Friday, January 25th. Finally, Jefferies Financial Group raised Eagle Materials from an “underweight” rating to a “market weight” rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $106.88.
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Eagle Materials Company Profile
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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