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

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

Other institutional investors have also bought and sold shares of the company. Skylands Capital LLC lifted its holdings in Eagle Materials by 13.7% in the 1st quarter. Skylands Capital LLC now owns 47,455 shares of the construction company's stock valued at $10,532,000 after acquiring an additional 5,725 shares during the last quarter. RBA Wealth Management LLC lifted its holdings in Eagle Materials by 1.7% in the 1st quarter. RBA Wealth Management LLC now owns 22,271 shares of the construction company's stock valued at $4,943,000 after acquiring an additional 380 shares during the last quarter. Balefire LLC acquired a new stake in Eagle Materials in the 1st quarter valued at about $368,000. Hi Line Capital Management LLC acquired a new stake in Eagle Materials in the 1st quarter valued at about $4,770,000. Finally, Sheets Smith Wealth Management lifted its holdings in Eagle Materials by 4.4% in the 1st quarter. Sheets Smith Wealth Management now owns 2,696 shares of the construction company's stock valued at $598,000 after acquiring an additional 113 shares during the last quarter. Institutional investors and hedge funds own 96.07% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on EXP. Loop Capital reduced their price objective on shares of Eagle Materials from $245.00 to $237.00 and set a "hold" rating for the company in a research note on Wednesday, May 21st. Stephens set a $255.00 price objective on shares of Eagle Materials and gave the company an "overweight" rating in a research note on Thursday, May 22nd. DA Davidson reduced their price objective on shares of Eagle Materials from $260.00 to $245.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Wall Street Zen lowered shares of Eagle Materials from a "hold" rating to a "sell" rating in a research note on Sunday. Finally, Truist Financial reduced their price objective on shares of Eagle Materials from $330.00 to $280.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $254.44.

Eagle Materials Stock Up 0.3%

Shares of EXP traded up $0.54 during trading hours on Friday, reaching $214.28. The company's stock had a trading volume of 346,994 shares, compared to its average volume of 352,399. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of 15.57 and a beta of 1.26. Eagle Materials Inc has a 1-year low of $191.91 and a 1-year high of $321.93. The company has a quick ratio of 1.03, a current ratio of 2.73 and a debt-to-equity ratio of 0.84. The company has a 50 day moving average of $213.40 and a two-hundred day moving average of $227.34.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its earnings results on Tuesday, May 20th. The construction company reported $2.08 earnings per share 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 business had revenue of $470.18 million during the quarter, compared to analyst estimates of $483.14 million. During the same quarter in the prior year, the company earned $2.24 EPS. Eagle Materials's revenue for the quarter was down 1.4% on a year-over-year basis. As a group, research analysts predict that Eagle Materials Inc will post 14.39 EPS for the current fiscal year.

Eagle Materials Announces Dividend

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 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 yield of 0.47%. Eagle Materials's dividend payout ratio is currently 7.27%.

Eagle Materials 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.