Eagle Materials Inc $EXP Shares Sold by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management LLC reduced its stake in Eagle Materials Inc by 46.5% in the first quarter, now holding approximately 0.06% of the company worth $4.4 million.
• Institutional investors and hedge funds own 96.07% of Eagle Materials, reflecting strong institutional interest, while several firms have updated their price targets, with Goldman Sachs setting a target of $242.00.
• Eagle Materials announced a quarterly dividend of $0.25 per share, scheduled for payment on October 16th, with a dividend yield of 0.4%.

Brandywine Global Investment Management LLC decreased its position in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 46.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,997 shares of the construction company's stock after selling 17,352 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.06% of Eagle Materials worth $4,438,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Transce3nd LLC boosted its holdings in shares of Eagle Materials by 9.7% during the first quarter. Transce3nd LLC now owns 552 shares of the construction company's stock valued at $122,000 after acquiring an additional 49 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Eagle Materials by 26.8% during the first quarter. Parallel Advisors LLC now owns 246 shares of the construction company's stock valued at $55,000 after acquiring an additional 52 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Eagle Materials by 6.0% during the fourth quarter. Hsbc Holdings PLC now owns 973 shares of the construction company's stock valued at $240,000 after acquiring an additional 55 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Eagle Materials by 0.4% during the first quarter. State of Alaska Department of Revenue now owns 17,433 shares of the construction company's stock valued at $3,868,000 after acquiring an additional 75 shares during the period. Finally, HighPoint Advisor Group LLC boosted its holdings in shares of Eagle Materials by 3.8% during the first quarter. HighPoint Advisor Group LLC now owns 2,110 shares of the construction company's stock valued at $468,000 after acquiring an additional 77 shares during the period. Institutional investors and hedge funds own 96.07% of the company's stock.

Eagle Materials Price Performance

EXP stock traded up $12.2050 during trading on Friday, hitting $239.0350. The company had a trading volume of 430,922 shares, compared to its average volume of 394,570. Eagle Materials Inc has a fifty-two week low of $191.91 and a fifty-two week high of $321.93. The company has a current ratio of 2.73, a quick ratio of 1.26 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of 17.60 and a beta of 1.24. The business has a 50 day moving average of $217.69 and a 200 day moving average of $220.88.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The construction company reported $3.76 earnings per share for the quarter, beating analysts' consensus estimates of $3.73 by $0.03. Eagle Materials had a net margin of 19.81% and a return on equity of 31.21%. The company had revenue of $634.69 million during the quarter, compared to the consensus estimate of $611.52 million. As a group, research analysts predict that Eagle Materials Inc will post 14.39 earnings per share for the current year.

Eagle Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Monday, September 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Eagle Materials's dividend payout ratio is presently 7.36%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on EXP shares. Citigroup reduced their price target on shares of Eagle Materials from $279.00 to $230.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Loop Capital upped their price objective on shares of Eagle Materials from $230.00 to $245.00 and gave the stock a "hold" rating in a report on Wednesday, July 30th. The Goldman Sachs Group set a $242.00 price objective on shares of Eagle Materials and gave the stock a "buy" rating in a report on Wednesday, May 21st. Stifel Nicolaus set a $241.00 price objective on shares of Eagle Materials and gave the stock a "hold" rating in a report on Wednesday, May 21st. Finally, 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 report on Friday, May 23rd. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $255.33.

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.