Eagle Materials Inc. (NYSE:EXP) Stake Lowered by Kennedy Capital Management LLC

Kennedy Capital Management LLC cut its holdings in shares of Eagle Materials Inc. (NYSE:EXP) by 11.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,539 shares of the construction company’s stock after selling 11,204 shares during the period. Kennedy Capital Management LLC owned approximately 0.26% of Eagle Materials worth $21,108,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in EXP. JPMorgan Chase & Co. raised its stake in Eagle Materials by 3.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,801,532 shares of the construction company’s stock valued at $444,546,000 after purchasing an additional 66,399 shares during the period. Geode Capital Management LLC boosted its holdings in Eagle Materials by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 722,995 shares of the construction company’s stock valued at $178,450,000 after acquiring an additional 15,388 shares during the period. Federated Hermes Inc. lifted its stake in shares of Eagle Materials by 10.3% in the fourth quarter. Federated Hermes Inc. now owns 594,899 shares of the construction company’s stock valued at $146,797,000 after buying an additional 55,578 shares during the period. Norges Bank bought a new stake in shares of Eagle Materials in the fourth quarter valued at about $93,672,000. Finally, GW&K Investment Management LLC lifted its stake in shares of Eagle Materials by 0.7% in the fourth quarter. GW&K Investment Management LLC now owns 322,384 shares of the construction company’s stock valued at $79,551,000 after buying an additional 2,216 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Stifel Nicolaus started coverage on shares of Eagle Materials in a report on Tuesday, March 4th. They set a “hold” rating and a $242.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on shares of Eagle Materials from $310.00 to $250.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Citigroup lowered shares of Eagle Materials from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $334.00 to $280.00 in a research note on Monday, January 6th. Loop Capital cut their price objective on shares of Eagle Materials from $280.00 to $245.00 and set a “hold” rating for the company in a report on Tuesday, April 1st. Finally, Stephens reaffirmed an “overweight” rating and set a $310.00 price target on shares of Eagle Materials in a report on Thursday, January 30th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $279.40.

Eagle Materials Stock Up 9.2 %

Shares of EXP opened at $224.87 on Thursday. The firm has a market capitalization of $7.49 billion, a P/E ratio of 16.06 and a beta of 1.25. Eagle Materials Inc. has a 12-month low of $201.61 and a 12-month high of $321.93. 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 firm has a fifty day moving average price of $228.83 and a 200-day moving average price of $261.51.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Wednesday, January 29th. The construction company reported $3.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.97 by ($0.38). Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. Equities research analysts expect that Eagle Materials Inc. will post 14.39 earnings per share for the current year.

Eagle Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 17th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Monday, March 17th. Eagle Materials’s dividend payout ratio (DPR) is 7.14%.

Insider Activity

In related news, Director Michael R. Nicolais bought 310 shares of the stock in a transaction on Monday, February 10th. The shares were bought at an average cost of $257.36 per share, for a total transaction of $79,781.60. Following the purchase, the director now owns 3,655 shares of the company’s stock, valued at $940,650.80. This trade represents a 9.27 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

Eagle Materials Company 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.