Eagle Materials Inc (NYSE:EXP) Stock Holdings Reduced by King Luther Capital Management Corp

Key Points

• King Luther Capital Management Corp reduced its holdings in Eagle Materials Inc by 33.6%, selling 17,724 shares to own 35,063 shares, valued at approximately $7.78 million.
• Despite the decrease by some investors, institutions such as JPMorgan Chase and Victory Capital Management increased their stakes in Eagle Materials significantly during the same periods.
• Eagle Materials reported a quarterly earnings per share of $3.76, exceeding analysts' expectations, and announced a quarterly dividend of $0.25 per share with a dividend yield of 0.4%.

King Luther Capital Management Corp lowered its holdings in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 33.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,063 shares of the construction company's stock after selling 17,724 shares during the period. King Luther Capital Management Corp owned approximately 0.11% of Eagle Materials worth $7,782,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bridges Investment Management Inc. raised its stake in shares of Eagle Materials by 111.4% in the 1st quarter. Bridges Investment Management Inc. now owns 6,918 shares of the construction company's stock worth $1,535,000 after buying an additional 3,645 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Eagle Materials by 234.6% in the 1st quarter. Teacher Retirement System of Texas now owns 4,905 shares of the construction company's stock worth $1,089,000 after buying an additional 3,439 shares in the last quarter. Hi Line Capital Management LLC bought a new stake in shares of Eagle Materials in the 1st quarter worth $4,770,000. GAMMA Investing LLC raised its stake in shares of Eagle Materials by 21.2% in the 1st quarter. GAMMA Investing LLC now owns 819 shares of the construction company's stock worth $182,000 after buying an additional 143 shares in the last quarter. Finally, Private Trust Co. NA raised its stake in shares of Eagle Materials by 39.0% in the 1st quarter. Private Trust Co. NA now owns 285 shares of the construction company's stock worth $63,000 after buying an additional 80 shares in the last quarter. Institutional investors own 96.07% of the company's stock.

Eagle Materials Stock Up 3.2%

Shares of EXP stock traded up $7.58 on Wednesday, reaching $241.31. 383,274 shares of the company's stock traded hands, compared to its average volume of 420,925. Eagle Materials Inc has a 12-month low of $191.91 and a 12-month high of $321.93. 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 company has a market capitalization of $7.83 billion, a P/E ratio of 17.77 and a beta of 1.24. The business's 50 day moving average price is $213.27 and its two-hundred day moving average price is $222.30.

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 return on equity of 31.21% and a net margin of 19.81%. The business had revenue of $634.69 million for the quarter, compared to the consensus estimate of $611.52 million. On average, equities analysts forecast 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. Stockholders of record on Monday, September 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, September 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.4%. Eagle Materials's payout ratio is currently 7.36%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Stifel Nicolaus set a $241.00 price objective on Eagle Materials and gave the stock a "hold" rating in a research note on Wednesday, May 21st. Loop Capital boosted their price objective on Eagle Materials from $230.00 to $245.00 and gave the stock a "hold" rating in a research note on Wednesday, July 30th. DA Davidson cut their target price on Eagle Materials from $260.00 to $245.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. The Goldman Sachs Group set a $242.00 target price on Eagle Materials and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Finally, Truist Financial cut their target price 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. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Eagle Materials presently has an average rating of "Hold" and an average price target of $255.33.

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.