DAVENPORT & Co LLC Purchases Shares of 7,500 Eagle Materials Inc (NYSE:EXP)

DAVENPORT & Co LLC purchased a new position in shares of Eagle Materials Inc (NYSE:EXP - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,500 shares of the construction company's stock, valued at approximately $1,657,000.

Other hedge funds have also made changes to their positions in the company. Parallel Advisors LLC increased its position in shares of Eagle Materials by 26.8% in the 1st quarter. Parallel Advisors LLC now owns 246 shares of the construction company's stock valued at $55,000 after purchasing an additional 52 shares during the last quarter. Hsbc Holdings PLC raised 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 valued at $240,000 after buying an additional 55 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Eagle Materials by 0.4% during the 1st quarter. State of Alaska Department of Revenue now owns 17,433 shares of the construction company's stock worth $3,868,000 after acquiring an additional 75 shares in the last quarter. Central Pacific Bank Trust Division raised its position in shares of Eagle Materials by 10.5% during the 1st quarter. Central Pacific Bank Trust Division now owns 840 shares of the construction company's stock worth $186,000 after acquiring an additional 80 shares in the last quarter. Finally, Harbor Investment Advisory LLC boosted its holdings in Eagle Materials by 19.4% in the first quarter. Harbor Investment Advisory LLC now owns 499 shares of the construction company's stock valued at $111,000 after purchasing an additional 81 shares in the last quarter. Institutional investors and hedge funds own 96.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on EXP shares. Stifel Nicolaus set a $241.00 target price on shares of Eagle Materials and gave the company a "hold" rating in a research report on Wednesday, May 21st. Citigroup cut their target price 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 decreased their target price on Eagle Materials from $245.00 to $237.00 and set a "hold" rating for the company in a research report on Wednesday, May 21st. Truist Financial cut their price target on 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, Wall Street Zen downgraded Eagle Materials from a "hold" rating to a "sell" rating in a report on Sunday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Eagle Materials has an average rating of "Hold" and an average price target of $254.44.

Eagle Materials Price Performance

Eagle Materials stock traded up $3.89 during mid-day trading on Tuesday, reaching $215.78. The company had a trading volume of 102,207 shares, compared to its average volume of 351,630. Eagle Materials Inc has a 1 year low of $191.91 and a 1 year high of $321.93. The company has a market capitalization of $7.04 billion, a P/E ratio of 15.68 and a beta of 1.26. The stock's 50-day simple moving average is $213.21 and its 200-day simple moving average is $226.93. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.73 and a quick ratio of 1.03.

Eagle Materials (NYSE:EXP - Get Free Report) last posted its 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 net margin of 20.50% and a return on equity of 32.71%. The business had revenue of $470.18 million for the quarter, compared to analysts' expectations of $483.14 million. During the same quarter last year, the business posted $2.24 earnings per share. The business's revenue was down 1.4% compared to the same quarter last year. On average, equities analysts predict that Eagle Materials Inc will post 14.39 EPS for the current year.

Eagle Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Monday, June 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, June 16th. Eagle Materials's dividend payout ratio is presently 7.27%.

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.