Advisors Asset Management Inc. Trims Holdings in Eagle Materials Inc $EXP

Key Points

• Advisors Asset Management Inc. decreased its stake in Eagle Materials Inc by 11.2% in the first quarter, owning approximately $6.70 million worth of shares.
• The construction company reported earnings of $3.76 per share, surpassing consensus estimates, with a quarterly revenue of $634.69 million.
• Eagle Materials announced a dividend of $0.25 per share to be paid on October 16th, representing an annual yield of 0.4%.

Advisors Asset Management Inc. decreased its holdings in Eagle Materials Inc (NYSE:EXP - Free Report) by 11.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,191 shares of the construction company's stock after selling 3,792 shares during the period. Advisors Asset Management Inc. owned about 0.09% of Eagle Materials worth $6,700,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of EXP. Hsbc Holdings PLC increased its stake in Eagle Materials by 6.0% in the fourth quarter. Hsbc Holdings PLC now owns 973 shares of the construction company's stock worth $240,000 after purchasing an additional 55 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in Eagle Materials in the fourth quarter worth $619,000. Baird Financial Group Inc. increased its stake in Eagle Materials by 14.8% in the fourth quarter. Baird Financial Group Inc. now owns 1,282 shares of the construction company's stock worth $316,000 after purchasing an additional 165 shares during the period. Centiva Capital LP purchased a new stake in Eagle Materials in the fourth quarter worth $511,000. Finally, Colonial Trust Co SC increased its stake in Eagle Materials by 150.5% in the fourth quarter. Colonial Trust Co SC now owns 689 shares of the construction company's stock worth $170,000 after purchasing an additional 414 shares during the period. Hedge funds and other institutional investors own 96.07% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on EXP. DA Davidson reduced their target price on Eagle Materials from $260.00 to $245.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Citigroup dropped their price target on Eagle Materials from $279.00 to $230.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Loop Capital increased their price target on Eagle Materials from $230.00 to $245.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Wall Street Zen raised Eagle Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, JPMorgan Chase & Co. raised their price objective on Eagle Materials from $220.00 to $245.00 and gave the company a "neutral" rating in a research report on Tuesday, August 26th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $254.78.

Eagle Materials Stock Down 3.7%

EXP stock traded down $8.75 during trading on Tuesday, reaching $228.73. 101,315 shares of the company traded hands, compared to its average volume of 393,886. Eagle Materials Inc has a 12 month low of $191.91 and a 12 month high of $321.93. The business has a 50 day simple moving average of $225.03 and a 200 day simple moving average of $219.54. The company has a market capitalization of $7.42 billion, a price-to-earnings ratio of 16.81 and a beta of 1.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.26 and a current ratio of 2.73.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The construction company reported $3.76 earnings per share for the quarter, beating analysts' consensus estimates of $3.73 by $0.03. Eagle Materials had a return on equity of 31.21% and a net margin of 19.81%.The company had revenue of $634.69 million for the quarter, compared to the consensus estimate of $611.52 million. On average, equities research analysts anticipate that Eagle Materials Inc will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Monday, September 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 15th. Eagle Materials's dividend payout ratio (DPR) is presently 7.36%.

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.