Artemis Investment Management LLP Sells 129,165 Shares of Eagle Materials Inc (NYSE:EXP)

Artemis Investment Management LLP lessened its position in Eagle Materials Inc (NYSE:EXP - Free Report) by 47.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 141,546 shares of the construction company's stock after selling 129,165 shares during the period. Artemis Investment Management LLP owned approximately 0.43% of Eagle Materials worth $31,413,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Two Sigma Advisers LP increased its stake in Eagle Materials by 8.7% during the 4th quarter. Two Sigma Advisers LP now owns 22,400 shares of the construction company's stock valued at $5,527,000 after purchasing an additional 1,800 shares in the last quarter. Hi Line Capital Management LLC bought a new stake in shares of Eagle Materials during the first quarter worth about $4,770,000. ArrowMark Colorado Holdings LLC acquired a new stake in shares of Eagle Materials in the 4th quarter worth about $28,778,000. Ausbil Investment Management Ltd raised its holdings in shares of Eagle Materials by 469.7% in the 1st quarter. Ausbil Investment Management Ltd now owns 2,951 shares of the construction company's stock worth $655,000 after acquiring an additional 2,433 shares during the last quarter. Finally, Two Sigma Investments LP lifted its position in Eagle Materials by 329.5% in the 4th quarter. Two Sigma Investments LP now owns 24,296 shares of the construction company's stock valued at $5,995,000 after acquiring an additional 18,639 shares in the last quarter. Institutional investors own 96.07% of the company's stock.

Eagle Materials Stock Up 1.0%

EXP opened at $202.95 on Friday. Eagle Materials Inc has a twelve month low of $191.91 and a twelve month high of $321.93. The company's 50-day moving average price is $214.18 and its two-hundred day moving average price is $230.19. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of 14.75 and a beta of 1.28. The company has a quick ratio of 1.03, a current ratio of 2.73 and a debt-to-equity ratio of 0.84.

Eagle Materials (NYSE:EXP - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The construction company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.26). Eagle Materials had a net margin of 20.50% and a return on equity of 32.71%. The firm had revenue of $470.18 million during the quarter, compared to analysts' expectations of $483.14 million. During the same quarter in the previous year, the company posted $2.24 EPS. Eagle Materials's revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities analysts expect that Eagle Materials Inc will post 14.39 earnings per share for the current year.

Eagle Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Monday, June 16th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, June 16th. Eagle Materials's dividend payout ratio is currently 7.27%.

Analysts Set New Price Targets

EXP has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on Eagle Materials from $310.00 to $250.00 and set a "neutral" rating for the company in a report on Wednesday, March 19th. DA Davidson decreased their price target on Eagle Materials from $260.00 to $245.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Citigroup dropped their price objective on Eagle Materials from $279.00 to $230.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Loop Capital cut their price objective on shares of Eagle Materials from $245.00 to $237.00 and set a "hold" rating on the stock in a report on Wednesday, May 21st. Finally, Stephens set a $255.00 target price on shares of Eagle Materials and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $254.44.

Eagle Materials Company 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.

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