Eagle Materials Inc $EXP Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its holdings in Eagle Materials Inc by 32.9%, resulting in ownership of approximately 1.98% of the company, equivalent to $146 million, after selling over 322,000 shares in the first quarter.
• Many institutional investors have altered their positions, with notable increases including Global Alpha Capital Management boosting its holding by 28.8% and JPMorgan Chase increasing its stake by 18.8%.
• Brokerage firms have given Eagle Materials a blend of ratings with an average target price of $255.33, while the stock is currently trading around $233.70.

Invesco Ltd. decreased its holdings in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 32.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 659,389 shares of the construction company's stock after selling 322,663 shares during the quarter. Invesco Ltd. owned about 1.98% of Eagle Materials worth $146,338,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Global Alpha Capital Management Ltd. raised its stake in Eagle Materials by 28.8% during the first quarter. Global Alpha Capital Management Ltd. now owns 138,270 shares of the construction company's stock valued at $30,686,000 after purchasing an additional 30,880 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Eagle Materials by 18.8% in the first quarter. JPMorgan Chase & Co. now owns 2,140,621 shares of the construction company's stock valued at $475,068,000 after acquiring an additional 339,089 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Eagle Materials in the first quarter valued at $4,842,000. Townsquare Capital LLC purchased a new stake in shares of Eagle Materials in the first quarter valued at $541,000. Finally, National Bank of Canada FI grew its holdings in shares of Eagle Materials by 17.2% in the first quarter. National Bank of Canada FI now owns 2,928 shares of the construction company's stock worth $649,000 after purchasing an additional 430 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company's stock.

Eagle Materials Trading Up 1.0%

Shares of EXP stock traded up $2.34 on Tuesday, hitting $232.51. 35,763 shares of the stock traded hands, compared to its average volume of 400,176. The firm's 50-day moving average price is $215.19 and its two-hundred day moving average price is $221.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.26 and a current ratio of 2.73. The stock has a market capitalization of $7.54 billion, a PE ratio of 17.19 and a beta of 1.24. Eagle Materials Inc has a twelve month low of $191.91 and a twelve month 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, beating the consensus estimate of $3.73 by $0.03. The firm had revenue of $634.69 million for the quarter, compared to analyst estimates of $611.52 million. Eagle Materials had a net margin of 19.81% and a return on equity of 31.21%. As a group, analysts anticipate that Eagle Materials Inc will post 14.39 EPS for the current year.

Eagle Materials Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on EXP shares. DA Davidson cut their price target on shares of Eagle Materials from $260.00 to $245.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Truist Financial lowered their price target on shares of Eagle Materials from $330.00 to $280.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Stephens set a $255.00 price target on Eagle Materials and gave the stock an "overweight" rating in a report on Thursday, May 22nd. Wall Street Zen upgraded shares of Eagle Materials from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Stifel Nicolaus set a $241.00 target price on shares of Eagle Materials and gave the stock a "hold" rating in a research note on Wednesday, May 21st. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average 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.