7,900 Shares in Eagle Materials Inc. (NYSE:EXP) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new stake in shares of Eagle Materials Inc. (NYSE:EXP) during the 4th quarter, Holdings Channel.com reports. The fund purchased 7,900 shares of the construction company’s stock, valued at approximately $1,951,000.

A number of other hedge funds have also modified their holdings of EXP. Citigroup Inc. boosted its holdings in Eagle Materials by 34.6% in the 3rd quarter. Citigroup Inc. now owns 21,828 shares of the construction company’s stock worth $6,279,000 after buying an additional 5,614 shares during the period. Cerity Partners LLC lifted its position in shares of Eagle Materials by 23.8% in the third quarter. Cerity Partners LLC now owns 13,924 shares of the construction company’s stock valued at $4,005,000 after acquiring an additional 2,679 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its stake in shares of Eagle Materials by 789.9% in the third quarter. Harvest Fund Management Co. Ltd now owns 703 shares of the construction company’s stock worth $202,000 after acquiring an additional 624 shares during the period. FMR LLC grew its position in shares of Eagle Materials by 30.1% during the third quarter. FMR LLC now owns 3,801,257 shares of the construction company’s stock worth $1,093,432,000 after purchasing an additional 878,400 shares in the last quarter. Finally, Townsquare Capital LLC bought a new stake in Eagle Materials during the 3rd quarter valued at approximately $241,000. 96.07% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Michael R. Nicolais bought 310 shares of the stock in a transaction dated Monday, February 10th. The stock was purchased at an average cost of $257.36 per share, with a total value of $79,781.60. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on EXP. Jefferies Financial Group downgraded Eagle Materials from a “buy” rating to a “hold” rating and dropped their price target for the stock from $330.00 to $310.00 in a research note on Monday, December 16th. Citigroup cut shares of Eagle Materials from a “buy” rating to a “neutral” rating and cut their target price for the company from $334.00 to $280.00 in a research note on Monday, January 6th. DA Davidson decreased their price target on shares of Eagle Materials from $265.00 to $260.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Stifel Nicolaus began coverage on Eagle Materials in a research report on Tuesday, March 4th. They set a “hold” rating and a $242.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their target price on Eagle Materials from $310.00 to $250.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Eagle Materials presently has an average rating of “Hold” and an average price target of $286.40.

Eagle Materials Stock Performance

NYSE:EXP opened at $225.77 on Friday. The firm has a market capitalization of $7.52 billion, a PE ratio of 16.13 and a beta of 1.37. The stock’s fifty day moving average is $237.15 and its 200 day moving average is $265.45. Eagle Materials Inc. has a fifty-two week low of $205.44 and a fifty-two week high of $321.93. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 2.76.

Eagle Materials (NYSE:EXP) last announced its earnings results on Wednesday, January 29th. The construction company reported $3.59 earnings per share 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%. On average, sell-side analysts anticipate that Eagle Materials Inc. will post 14.39 earnings per share for the current year.

Eagle Materials Announces Dividend

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

About Eagle Materials

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.