Artemis Investment Management LLP Decreases Stock Holdings in Eagle Materials Inc (NYSE:EXP)

Artemis Investment Management LLP cut its stake in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 47.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 141,546 shares of the construction company's stock after selling 129,165 shares during the quarter. Artemis Investment Management LLP owned 0.43% of Eagle Materials worth $31,413,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EXP. Sprott Inc. boosted its holdings in shares of Eagle Materials by 3.0% in the fourth quarter. Sprott Inc. now owns 1,695 shares of the construction company's stock valued at $418,000 after acquiring an additional 50 shares in the last quarter. NewEdge Wealth LLC lifted its position in Eagle Materials by 4.6% in the fourth quarter. NewEdge Wealth LLC now owns 109,967 shares of the construction company's stock valued at $27,135,000 after purchasing an additional 4,824 shares during the period. Proficio Capital Partners LLC purchased a new stake in Eagle Materials in the 4th quarter valued at approximately $8,890,000. QRG Capital Management Inc. increased its position in Eagle Materials by 40.0% during the 4th quarter. QRG Capital Management Inc. now owns 1,144 shares of the construction company's stock worth $282,000 after purchasing an additional 327 shares during the period. Finally, GW&K Investment Management LLC raised its stake in shares of Eagle Materials by 0.7% during the 4th quarter. GW&K Investment Management LLC now owns 322,384 shares of the construction company's stock worth $79,551,000 after buying an additional 2,216 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Materials Trading Down 1.3%

Shares of Eagle Materials stock traded down $2.73 during trading hours on Monday, reaching $202.04. 251,167 shares of the company's stock were exchanged, compared to its average volume of 350,546. The firm has a market capitalization of $6.59 billion, a price-to-earnings ratio of 14.68 and a beta of 1.28. The company has a current ratio of 2.73, a quick ratio of 1.03 and a debt-to-equity ratio of 0.84. Eagle Materials Inc has a 52-week low of $183.38 and a 52-week high of $321.93. The company has a fifty day moving average of $213.93 and a 200-day moving average of $229.01.

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 analysts' consensus estimates of $2.34 by ($0.26). Eagle Materials had a net margin of 20.50% and a return on equity of 32.71%. The company had revenue of $470.18 million for the quarter, compared to analyst estimates of $483.14 million. During the same period in the prior year, the company earned $2.24 EPS. The company's revenue was down 1.4% compared to the same quarter last year. Sell-side analysts forecast that Eagle Materials Inc will post 14.39 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Monday, June 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.49%. Eagle Materials's dividend payout ratio (DPR) is presently 7.27%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on EXP shares. Citigroup dropped their price objective on Eagle Materials from $279.00 to $230.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. DA Davidson cut their price target on shares of Eagle Materials from $260.00 to $245.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Eagle Materials from $310.00 to $250.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. Truist Financial lowered their target price on shares of Eagle Materials from $330.00 to $280.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group set a $242.00 price target on shares of Eagle Materials and gave the company a "buy" rating in a research report on Wednesday, May 21st. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $254.44.

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.