Eagle Materials Inc. (NYSE:EXP) Position Lowered by First Dallas Securities Inc.

First Dallas Securities Inc. lowered its holdings in Eagle Materials Inc. (NYSE:EXP) by 20.4% during the first quarter, HoldingsChannel.com reports. The fund owned 12,532 shares of the construction company’s stock after selling 3,214 shares during the period. Eagle Materials accounts for about 1.6% of First Dallas Securities Inc.’s portfolio, making the stock its 14th biggest position. First Dallas Securities Inc.’s holdings in Eagle Materials were worth $3,406,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Asset Management One Co. Ltd. bought a new position in Eagle Materials in the fourth quarter worth about $1,085,000. NewEdge Wealth LLC lifted its holdings in Eagle Materials by 13.4% in the fourth quarter. NewEdge Wealth LLC now owns 89,090 shares of the construction company’s stock worth $18,071,000 after acquiring an additional 10,514 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in Eagle Materials in the fourth quarter worth about $1,988,000. Van ECK Associates Corp lifted its holdings in Eagle Materials by 39.7% in the fourth quarter. Van ECK Associates Corp now owns 10,537 shares of the construction company’s stock worth $2,137,000 after acquiring an additional 2,993 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in Eagle Materials by 261.8% in the fourth quarter. TD Asset Management Inc now owns 871,970 shares of the construction company’s stock worth $176,870,000 after acquiring an additional 630,964 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.

Eagle Materials Stock Up 1.1 %

Shares of NYSE:EXP traded up $2.46 during trading on Friday, reaching $217.46. 643,574 shares of the company traded hands, compared to its average volume of 318,446. The firm has a fifty day simple moving average of $240.97 and a 200 day simple moving average of $236.46. The firm has a market cap of $7.36 billion, a P/E ratio of 15.97 and a beta of 1.33. Eagle Materials Inc. has a 1-year low of $145.03 and a 1-year high of $276.61. The company has a quick ratio of 1.06, a current ratio of 2.62 and a debt-to-equity ratio of 0.83.

Eagle Materials (NYSE:EXP) last released its quarterly earnings data on Tuesday, May 21st. The construction company reported $2.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.48). Eagle Materials had a net margin of 21.14% and a return on equity of 37.31%. The business had revenue of $476.70 million during the quarter, compared to analyst estimates of $480.20 million. During the same period in the previous year, the firm posted $2.79 EPS. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. Analysts anticipate that Eagle Materials Inc. will post 16.01 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, June 17th. Eagle Materials’s payout ratio is presently 7.34%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EXP. Loop Capital cut their target price on shares of Eagle Materials from $310.00 to $305.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Raymond James lifted their price target on Eagle Materials from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, May 23rd. Truist Financial lifted their price target on Eagle Materials from $290.00 to $320.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. raised 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. Finally, Citigroup lowered their price objective on shares of Eagle Materials from $311.00 to $297.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $279.67.

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.