Ballast Asset Management LP Cuts Stock Position in Eagle Materials Inc. (NYSE:EXP)

Ballast Asset Management LP decreased its holdings in Eagle Materials Inc. (NYSE:EXP) by 3.2% in the 4th quarter, HoldingsChannel reports. The firm owned 21,234 shares of the construction company’s stock after selling 707 shares during the quarter. Eagle Materials makes up 2.7% of Ballast Asset Management LP’s holdings, making the stock its 12th biggest holding. Ballast Asset Management LP’s holdings in Eagle Materials were worth $5,240,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in EXP. Private Trust Co. NA boosted its position in Eagle Materials by 53.0% in the 4th quarter. Private Trust Co. NA now owns 205 shares of the construction company’s stock valued at $51,000 after buying an additional 71 shares during the period. R Squared Ltd acquired a new stake in shares of Eagle Materials in the fourth quarter valued at $81,000. Smartleaf Asset Management LLC boosted its holdings in Eagle Materials by 10.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 569 shares of the construction company’s stock valued at $140,000 after purchasing an additional 56 shares during the period. GAMMA Investing LLC grew its stake in Eagle Materials by 10.6% during the 4th quarter. GAMMA Investing LLC now owns 676 shares of the construction company’s stock worth $167,000 after purchasing an additional 65 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in Eagle Materials during the 4th quarter worth about $170,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

Insider Activity

In other news, Director Michael R. Nicolais acquired 310 shares of the company’s stock in a transaction on 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 purchase, the director now owns 3,655 shares of the company’s stock, valued at $940,650.80. This represents a 9.27 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Eagle Materials Stock Performance

Shares of Eagle Materials stock opened at $221.89 on Tuesday. The firm’s fifty day simple moving average is $235.73 and its 200-day simple moving average is $265.19. Eagle Materials Inc. has a 12 month low of $205.44 and a 12 month high of $321.93. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 15.85 and a beta of 1.37. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.76 and a quick ratio of 1.01.

Eagle Materials (NYSE:EXP) last announced its earnings results on Wednesday, January 29th. The construction company reported $3.59 EPS 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%. As a group, equities analysts forecast that Eagle Materials Inc. will post 14.39 earnings per share for the current year.

Eagle Materials Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on EXP. Jefferies Financial Group cut Eagle Materials from a “buy” rating to a “hold” rating and decreased their price objective for the company from $330.00 to $310.00 in a research note on Monday, December 16th. Stephens reiterated an “overweight” rating and set a $310.00 price target on shares of Eagle Materials in a report on Thursday, January 30th. DA Davidson dropped their price objective on shares of Eagle Materials from $265.00 to $260.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Stifel Nicolaus started coverage on shares of 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, Citigroup lowered Eagle Materials from a “buy” rating to a “neutral” rating and dropped their target price for the company from $334.00 to $280.00 in a report on Monday, January 6th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $286.40.

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.