Norges Bank bought a new stake in Eagle Materials, Inc. (NYSE:EXP) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 412,084 shares of the construction company’s stock, valued at approximately $25,150,000. Norges Bank owned 0.90% of Eagle Materials at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of EXP. Dimensional Fund Advisors LP grew its stake in shares of Eagle Materials by 12.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 466,996 shares of the construction company’s stock valued at $39,806,000 after buying an additional 52,527 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Eagle Materials by 3.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 79,223 shares of the construction company’s stock valued at $6,753,000 after buying an additional 2,391 shares during the period. Man Group plc acquired a new stake in shares of Eagle Materials in the 3rd quarter valued at about $1,487,000. Putnam Investments LLC acquired a new position in Eagle Materials during the 3rd quarter valued at about $2,356,000. Finally, Mackenzie Financial Corp acquired a new position in Eagle Materials during the 3rd quarter valued at about $3,870,000. Institutional investors own 95.64% of the company’s stock.
Shares of NYSE EXP opened at $90.08 on Friday. Eagle Materials, Inc. has a twelve month low of $57.00 and a twelve month high of $115.75. The company has a market capitalization of $4.13 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 1.94 and a beta of 1.34. The company has a current ratio of 2.26, a quick ratio of 0.87 and a debt-to-equity ratio of 0.42.
Eagle Materials (NYSE:EXP) last announced its earnings results on Tuesday, January 29th. The construction company reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.06). The business had revenue of $333.30 million during the quarter, compared to analysts’ expectations of $357.08 million. Eagle Materials had a return on equity of 17.49% and a net margin of 16.77%. Eagle Materials’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.08 EPS. On average, analysts forecast that Eagle Materials, Inc. will post 5.09 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors 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 0.44%. Eagle Materials’s dividend payout ratio (DPR) is presently 9.48%.
A number of research firms have issued reports on EXP. Citigroup cut their price target on Eagle Materials from $111.00 to $79.00 and set a “buy” rating for the company in a research note on Thursday, January 3rd. TheStreet upgraded Eagle Materials from a “c+” rating to a “b-” rating in a research note on Monday, April 15th. SunTrust Banks began coverage on Eagle Materials in a research note on Monday, March 25th. They set a “buy” rating for the company. Zacks Investment Research upgraded Eagle Materials from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Finally, Jefferies Financial Group upgraded Eagle Materials from an “underweight” rating to a “market weight” rating in a research note on Monday, March 11th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $103.14.
In related news, Director Ed H. Bowman, Jr. sold 2,591 shares of Eagle Materials stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $71.35, for a total value of $184,867.85. Following the sale, the director now owns 12,977 shares of the company’s stock, valued at approximately $925,908.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.70% of the company’s stock.
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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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