154,461 Shares in Eagle Materials Inc. (NYSE:EXP) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in Eagle Materials Inc. (NYSE:EXP) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 154,461 shares of the construction company’s stock, valued at approximately $38,115,000.

Other hedge funds have also recently bought and sold shares of the company. HighTower Advisors LLC increased its position in shares of Eagle Materials by 50.0% during the 3rd quarter. HighTower Advisors LLC now owns 2,887 shares of the construction company’s stock worth $828,000 after purchasing an additional 962 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in shares of Eagle Materials during the third quarter worth approximately $230,000. Barclays PLC raised its stake in shares of Eagle Materials by 78.1% in the third quarter. Barclays PLC now owns 37,948 shares of the construction company’s stock valued at $10,915,000 after acquiring an additional 16,645 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Eagle Materials by 20.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 2,883 shares of the construction company’s stock worth $906,000 after acquiring an additional 480 shares in the last quarter. Finally, World Investment Advisors LLC bought a new stake in Eagle Materials during the 3rd quarter worth approximately $34,846,000. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EXP has been the topic of a number of recent analyst reports. DA Davidson reduced their price objective on Eagle Materials from $265.00 to $260.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Loop Capital reduced their price target on shares of Eagle Materials from $280.00 to $245.00 and set a “hold” rating on the stock in a research report on Tuesday, April 1st. Stifel Nicolaus started coverage on shares of Eagle Materials in a research report on Tuesday, March 4th. They issued a “hold” rating and a $242.00 price objective for the company. Citigroup lowered shares of Eagle Materials from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $334.00 to $280.00 in a research report on Monday, January 6th. Finally, Stephens reissued an “overweight” rating and issued a $310.00 price target on shares of Eagle Materials in a report on Thursday, January 30th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $279.40.

Insider Transactions at Eagle Materials

In other news, Director Michael R. Nicolais purchased 310 shares of Eagle Materials stock in a transaction dated Monday, February 10th. The shares were bought at an average cost of $257.36 per share, with a total value of $79,781.60. Following the completion of the transaction, the director now directly owns 3,655 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Eagle Materials Trading Down 1.4 %

Shares of NYSE EXP opened at $223.72 on Wednesday. Eagle Materials Inc. has a fifty-two week low of $201.61 and a fifty-two week high of $321.93. The firm has a market capitalization of $7.45 billion, a P/E ratio of 15.98 and a beta of 1.25. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.76 and a quick ratio of 1.01. The company’s 50 day simple moving average is $226.21 and its 200 day simple moving average is $259.79.

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

Eagle Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 14th. Shareholders of record on Monday, March 17th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Monday, March 17th. Eagle Materials’s dividend payout ratio (DPR) is currently 7.14%.

Eagle Materials 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.