American International Group Inc. reduced its holdings in Eagle Materials, Inc. (NYSE:EXP) by 4.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 91,815 shares of the construction company’s stock after selling 4,014 shares during the quarter. American International Group Inc. owned about 0.20% of Eagle Materials worth $7,740,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EXP. Flagship Harbor Advisors LLC acquired a new position in shares of Eagle Materials in the 4th quarter valued at $35,000. Amundi Pioneer Asset Management Inc. bought a new position in Eagle Materials during the 4th quarter valued at about $95,000. Quadrant Capital Group LLC lifted its stake in Eagle Materials by 294.6% during the 1st quarter. Quadrant Capital Group LLC now owns 1,180 shares of the construction company’s stock valued at $97,000 after acquiring an additional 881 shares during the period. Sun Life Financial INC bought a new position in Eagle Materials during the 4th quarter valued at about $151,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in Eagle Materials by 11.2% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 3,268 shares of the construction company’s stock valued at $199,000 after acquiring an additional 329 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.
A number of equities analysts have recently weighed in on EXP shares. Zacks Investment Research upgraded Eagle Materials from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a report on Tuesday, June 4th. TheStreet lowered shares of Eagle Materials from a “b” rating to a “c+” rating in a research report on Friday, May 17th. Raymond James increased their target price on shares of Eagle Materials from $95.00 to $97.00 and gave the stock an “outperform” rating in a research report on Friday, May 17th. Citigroup increased their target price on shares of Eagle Materials from $101.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, Berenberg Bank assumed coverage on shares of Eagle Materials in a research report on Wednesday, April 3rd. They set a “buy” rating and a $103.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $102.68.
Eagle Materials (NYSE:EXP) last released its quarterly earnings results on Thursday, May 16th. The construction company reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.08. Eagle Materials had a return on equity of 17.82% and a net margin of 4.94%. The business had revenue of $284.70 million for the quarter, compared to analysts’ expectations of $278.70 million. During the same quarter in the previous year, the firm posted $0.76 earnings per share. The company’s revenue was up .0% compared to the same quarter last year. Equities analysts forecast that Eagle Materials, Inc. will post 5.66 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, June 21st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Thursday, June 20th. Eagle Materials’s dividend payout ratio (DPR) is 7.92%.
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Eagle Materials Profile
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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