T. Rowe Price Investment Management Inc. Reduces Holdings in Eagle Materials Inc $EXP

Key Points

• T. Rowe Price Investment Management Inc. has reduced its stake in Eagle Materials Inc by 57.8%, now holding 14,815 shares worth approximately $3.29 million after selling 20,331 shares.
• The company recently declared a quarterly dividend of $0.25, which will be paid on October 16th, with a dividend yield of 0.4%.
• Eagle Materials has reported earnings of $3.76 per share in its latest quarter, exceeding analysts' expectations of $3.73, with revenues reaching $634.69 million.

T. Rowe Price Investment Management Inc. reduced its stake in Eagle Materials Inc (NYSE:EXP - Free Report) by 57.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,815 shares of the construction company's stock after selling 20,331 shares during the period. T. Rowe Price Investment Management Inc.'s holdings in Eagle Materials were worth $3,288,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Transce3nd LLC raised its stake in shares of Eagle Materials by 9.7% in 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 in the last quarter. Parallel Advisors LLC raised its stake in shares of Eagle Materials by 26.8% in 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 in the last quarter. Hsbc Holdings PLC raised its stake in shares of 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 acquiring an additional 55 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Eagle Materials by 0.4% in 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 in the last quarter. Finally, HighPoint Advisor Group LLC raised its stake in shares of Eagle Materials by 3.8% in 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 in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EXP has been the topic of several analyst reports. Stifel Nicolaus set a $241.00 price objective on Eagle Materials and gave the company a "hold" rating in a research note on Wednesday, May 21st. Stephens set a $255.00 price objective on Eagle Materials and gave the company an "overweight" rating in a research note on Thursday, May 22nd. Wall Street Zen upgraded Eagle Materials from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Loop Capital increased their target price on Eagle Materials from $230.00 to $245.00 and gave the company a "hold" rating in a report on Wednesday, July 30th. Finally, DA Davidson dropped their target price on Eagle Materials from $260.00 to $245.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $254.78.

Eagle Materials Stock Down 2.1%

NYSE:EXP traded down $4.91 during trading hours on Thursday, hitting $230.62. The company's stock had a trading volume of 250,997 shares, compared to its average volume of 395,821. The stock has a market capitalization of $7.48 billion, a P/E ratio of 16.98 and a beta of 1.24. The stock has a fifty day moving average of $220.17 and a 200-day moving average of $220.70. The company has a current ratio of 2.73, a quick ratio of 1.26 and a debt-to-equity ratio of 0.87. Eagle Materials Inc has a 52-week low of $191.91 and a 52-week high of $321.93.

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

Eagle Materials Announces Dividend

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

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.