Victory Capital Management Inc. Trims Stake in Eagle Materials Inc. (NYSE:EXP)

Victory Capital Management Inc. cut its holdings in shares of Eagle Materials Inc. (NYSE:EXP) by 5.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 381,719 shares of the construction company’s stock after selling 23,310 shares during the quarter. Victory Capital Management Inc.’s holdings in Eagle Materials were worth $77,428,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC purchased a new position in shares of Eagle Materials during the 3rd quarter worth approximately $25,000. Global Wealth Management Investment Advisory Inc. acquired a new position in Eagle Materials during the 4th quarter worth approximately $30,000. BluePath Capital Management LLC purchased a new position in shares of Eagle Materials in the 3rd quarter valued at about $31,000. Planned Solutions Inc. purchased a new stake in Eagle Materials in the fourth quarter valued at $35,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Eagle Materials in the third quarter valued at approximately $53,000. 96.07% of the stock is owned by institutional investors and hedge funds.

Eagle Materials Trading Up 1.5 %

NYSE:EXP opened at $260.89 on Friday. The stock has a market cap of $8.99 billion, a price-to-earnings ratio of 18.41 and a beta of 1.35. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 2.61. The business’s 50-day simple moving average is $256.72 and its 200 day simple moving average is $217.61. Eagle Materials Inc. has a one year low of $145.03 and a one year high of $272.72.

Eagle Materials Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.38%. Eagle Materials’s dividend payout ratio (DPR) is 7.06%.

Insider Activity at Eagle Materials

In related news, EVP Matt Newby sold 2,940 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $251.15, for a total transaction of $738,381.00. Following the completion of the sale, the executive vice president now owns 21,819 shares of the company’s stock, valued at approximately $5,479,841.85. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director David B. Powers sold 3,347 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $240.52, for a total value of $805,020.44. Following the sale, the director now directly owns 655 shares in the company, valued at approximately $157,540.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Matt Newby sold 2,940 shares of Eagle Materials stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $251.15, for a total transaction of $738,381.00. Following the sale, the executive vice president now owns 21,819 shares in the company, valued at $5,479,841.85. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EXP. Truist Financial lifted their target price on Eagle Materials from $290.00 to $320.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Eagle Materials from $200.00 to $265.00 and gave the company a “neutral” rating in a research note on Friday, March 22nd. The Goldman Sachs Group raised their target price on shares of Eagle Materials from $238.00 to $273.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Citigroup boosted their price target on shares of Eagle Materials from $244.00 to $311.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, StockNews.com downgraded shares of Eagle Materials from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $263.50.

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; 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.