Comerica Bank Sells 30,778 Shares of Eagle Materials Inc $EXP

Comerica Bank lowered its position in Eagle Materials Inc (NYSE:EXP) by 60.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 20,390 shares of the construction company’s stock after selling 30,778 shares during the quarter. Comerica Bank’s holdings in Eagle Materials were worth $4,214,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of EXP. Versant Capital Management Inc lifted its position in Eagle Materials by 130.9% during the third quarter. Versant Capital Management Inc now owns 127 shares of the construction company’s stock valued at $30,000 after acquiring an additional 72 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Eagle Materials in the third quarter worth $30,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Eagle Materials during the third quarter worth $34,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Eagle Materials by 102.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company’s stock valued at $35,000 after purchasing an additional 87 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Eagle Materials during the 3rd quarter valued at $49,000. Institutional investors own 96.07% of the company’s stock.

Eagle Materials Price Performance

NYSE EXP opened at $211.19 on Friday. The company has a market cap of $6.64 billion, a price-to-earnings ratio of 15.99 and a beta of 1.38. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.27 and a quick ratio of 2.68. The stock’s fifty day moving average price is $199.25 and its 200 day moving average price is $213.37. Eagle Materials Inc has a 1 year low of $171.99 and a 1 year high of $243.64.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings results on Thursday, January 29th. The construction company reported $3.22 EPS for the quarter, missing analysts’ consensus estimates of $3.32 by ($0.10). The firm had revenue of $555.96 million for the quarter, compared to analyst estimates of $556.41 million. Eagle Materials had a return on equity of 28.96% and a net margin of 18.70%.The business’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.59 EPS. As a group, equities research analysts forecast that Eagle Materials Inc will post 12.72 earnings per share for the current year.

Eagle Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 13th. Investors of record on Monday, March 16th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Eagle Materials’s payout ratio is 7.57%.

Wall Street Analysts Forecast Growth

EXP has been the topic of several research analyst reports. DA Davidson dropped their target price on Eagle Materials from $225.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, February 2nd. Stephens reiterated an “equal weight” rating and issued a $245.00 price target on shares of Eagle Materials in a research note on Tuesday, January 20th. Zacks Research upgraded Eagle Materials from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Wall Street Zen downgraded shares of Eagle Materials from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Finally, Royal Bank Of Canada set a $208.00 price objective on shares of Eagle Materials in a research report on Tuesday, February 24th. Two research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $228.82.

Eagle Materials Company 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.