Comerica Bank Sells 30,778 Shares of Eagle Materials Inc $EXP

Key Points

• Comerica Bank sold 30,778 shares of Eagle Materials, trimming its position by 60.2% to 20,390 shares worth about $4.21 million as of the 4Q 13F filing.
• Institutional ownership is very high at 96.07%, and Wall Street consensus is a "Hold" with a target price of $228.82 after several analysts trimmed price targets or reiterated cautious ratings.
• Eagle Materials slightly missed quarterly estimates with $3.22 EPS vs. $3.32 expected and revenue essentially flat (down 0.4% YoY); the company has a market cap of about $6.64 billion, a PE of 15.99, and an annualized dividend of $1.00 (≈0.5% yield).

Comerica Bank trimmed its position in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 60.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,390 shares of the construction company's stock after selling 30,778 shares during the period. Comerica Bank owned about 0.06% of Eagle Materials worth $4,214,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EXP. Park Avenue Securities LLC grew its stake in shares of Eagle Materials by 1.5% during the third quarter. Park Avenue Securities LLC now owns 2,962 shares of the construction company's stock valued at $690,000 after buying an additional 45 shares during the last quarter. Caisse de depot et placement du Quebec raised its holdings in shares of Eagle Materials by 3.6% in the third quarter. Caisse de depot et placement du Quebec now owns 1,426 shares of the construction company's stock worth $332,000 after buying an additional 50 shares during the period. Signaturefd LLC lifted its stake in shares of Eagle Materials by 15.8% during the 4th quarter. Signaturefd LLC now owns 389 shares of the construction company's stock worth $80,000 after acquiring an additional 53 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Eagle Materials by 20.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 326 shares of the construction company's stock worth $76,000 after acquiring an additional 55 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Eagle Materials by 5.9% during the 4th quarter. GAMMA Investing LLC now owns 1,048 shares of the construction company's stock valued at $217,000 after acquiring an additional 58 shares during the period. 96.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on EXP shares. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $215.00 target price (down from $230.00) on shares of Eagle Materials in a research note on Monday, February 16th. Citigroup lowered their target price on shares of Eagle Materials from $232.00 to $224.00 and set a "neutral" rating for the company in a research note on Tuesday, February 3rd. Wall Street Zen cut shares of Eagle Materials from a "hold" rating to a "sell" rating in a report on Saturday, April 18th. DA Davidson decreased their price objective on shares of Eagle Materials from $225.00 to $210.00 and set a "neutral" rating for the company in a report on Monday, February 2nd. Finally, Stephens reissued an "equal weight" rating and issued a $245.00 price objective on shares of Eagle Materials in a research report on Tuesday, January 20th. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Eagle Materials currently has a consensus rating of "Hold" and a consensus target price of $228.82.

Eagle Materials Price Performance

NYSE EXP opened at $211.19 on Friday. The company has a market cap of $6.64 billion, a PE ratio of 15.99 and a beta of 1.38. The firm's 50 day moving average price is $199.25 and its 200-day moving average price is $213.37. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.68 and a current ratio of 4.27. Eagle Materials Inc has a 52-week low of $171.99 and a 52-week high of $243.64.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The construction company reported $3.22 EPS for the quarter, missing analysts' consensus estimates of $3.32 by ($0.10). The business had revenue of $555.96 million during the quarter, compared to the consensus estimate of $556.41 million. Eagle Materials had a return on equity of 28.96% and a net margin of 18.70%.The business's quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the firm earned $3.59 EPS. Sell-side analysts forecast that Eagle Materials Inc will post 12.72 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 13th. Investors of record on Monday, March 16th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, March 16th. Eagle Materials's dividend payout ratio is 7.57%.

Eagle Materials Profile

Eagle Materials Inc NYSE: EXP is a Dallas, Texas–based manufacturer of building materials serving construction and heavy industry markets across the United States. The company's primary products include portland and masonry cements, gypsum wallboard, lightweight aggregate, paperboard packaging, and roofing granules. These product lines support a wide range of end uses—from residential and commercial buildings to infrastructure projects and industrial applications.

Since its spin-off from a major homebuilding company in 2004, Eagle Materials has grown through targeted facility expansions and strategic acquisitions.

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