BNP Paribas Financial Markets Cuts Stake in Eagle Materials Inc. (NYSE:EXP)

BNP Paribas Financial Markets cut its holdings in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) by 45.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,092 shares of the construction company's stock after selling 14,415 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.05% of Eagle Materials worth $4,218,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Barclays PLC boosted its holdings in shares of Eagle Materials by 78.1% in the third quarter. Barclays PLC now owns 37,948 shares of the construction company's stock worth $10,915,000 after acquiring an additional 16,645 shares during the period. ArrowMark Colorado Holdings LLC bought a new stake in shares of Eagle Materials during the fourth quarter valued at about $28,778,000. Proficio Capital Partners LLC bought a new position in shares of Eagle Materials in the fourth quarter valued at approximately $8,890,000. Empowered Funds LLC lifted its stake in Eagle Materials by 242.4% in the 4th quarter. Empowered Funds LLC now owns 7,789 shares of the construction company's stock worth $1,922,000 after purchasing an additional 5,514 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Eagle Materials by 60.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,735,133 shares of the construction company's stock valued at $499,111,000 after purchasing an additional 652,836 shares during the period. 96.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EXP has been the subject of several recent analyst reports. Stephens restated an "overweight" rating and set a $310.00 target price on shares of Eagle Materials in a research report on Thursday, January 30th. Loop Capital decreased their price objective on shares of Eagle Materials from $280.00 to $245.00 and set a "hold" rating on the stock in a research report on Tuesday, April 1st. Truist Financial dropped their target price on shares of Eagle Materials from $330.00 to $280.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. JPMorgan Chase & Co. dropped their target price on Eagle Materials from $310.00 to $250.00 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Finally, DA Davidson reduced their price objective on Eagle Materials from $265.00 to $260.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $274.40.

Eagle Materials Stock Down 6.0%

Eagle Materials stock traded down $14.54 during trading hours on Tuesday, hitting $227.42. 203,908 shares of the stock traded hands, compared to its average volume of 369,061. Eagle Materials Inc. has a one year low of $201.61 and a one year high of $321.93. The firm's 50-day moving average price is $223.51 and its two-hundred day moving average price is $248.93. The company has a current ratio of 2.76, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The company has a market cap of $7.57 billion, a PE ratio of 16.24 and a beta of 1.36.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The construction company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.26). Eagle Materials had a return on equity of 34.14% and a net margin of 20.91%. The firm had revenue of $470.18 million during the quarter, compared to analysts' expectations of $483.14 million. During the same period in the previous year, the company earned $2.24 earnings per share. Eagle Materials's revenue for the quarter was down 1.4% on a year-over-year basis. On average, research analysts forecast that Eagle Materials Inc. will post 14.39 EPS for the current year.

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.