Epoch Investment Partners Inc. Sells 41,725 Shares of Eagle Materials Inc $EXP

Key Points

• Epoch Investment Partners cut its stake in Eagle Materials by 10.8% in the first quarter, selling 41,725 shares and leaving it with 345,550 shares worth about $65.5 million.
• Eagle Materials reported better-than-expected quarterly results, with EPS of $1.91 versus the $1.59 consensus and revenue of $479.1 million versus $452.0 million expected.
• Analyst sentiment remains cautious: the stock has a consensus Hold rating with an average price target of $226, while shares recently traded around $213.34 and the company paid a quarterly dividend of $0.25.

Epoch Investment Partners Inc. decreased its position in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 345,550 shares of the construction company's stock after selling 41,725 shares during the period. Epoch Investment Partners Inc. owned about 1.10% of Eagle Materials worth $65,464,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of EXP. Baupost Group LLC MA grew its position in Eagle Materials by 26.1% during the 4th quarter. Baupost Group LLC MA now owns 1,185,248 shares of the construction company's stock worth $244,967,000 after acquiring an additional 245,588 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Eagle Materials by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 627,427 shares of the construction company's stock worth $118,846,000 after purchasing an additional 16,782 shares in the last quarter. Black Creek Investment Management Inc. bought a new stake in shares of Eagle Materials during the fourth quarter worth $103,778,000. Norges Bank acquired a new stake in shares of Eagle Materials in the fourth quarter valued at $90,147,000. Finally, Invesco Ltd. raised its holdings in shares of Eagle Materials by 4.6% in the third quarter. Invesco Ltd. now owns 363,508 shares of the construction company's stock valued at $84,712,000 after buying an additional 15,899 shares during the last quarter. Institutional investors own 96.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Citigroup boosted their target price on shares of Eagle Materials from $217.00 to $240.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 8th. Royal Bank Of Canada boosted their price objective on shares of Eagle Materials from $208.00 to $219.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 20th. Wall Street Zen upgraded Eagle Materials from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Wells Fargo & Company dropped their target price on Eagle Materials from $246.00 to $240.00 and set an "overweight" rating for the company in a research report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. upgraded Eagle Materials from an "underweight" rating to a "neutral" rating and set a $225.00 price target on the stock in a report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Eagle Materials has a consensus rating of "Hold" and a consensus price target of $226.00.

Eagle Materials Stock Up 3.0%

NYSE:EXP opened at $213.34 on Friday. The stock has a 50-day simple moving average of $213.86 and a 200 day simple moving average of $211.04. Eagle Materials Inc has a 52-week low of $171.99 and a 52-week high of $245.53. The company has a market cap of $6.59 billion, a PE ratio of 16.26 and a beta of 1.37. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.09 and a current ratio of 3.66.

Eagle Materials (NYSE:EXP - Get Free Report) last released its quarterly earnings results on Tuesday, May 19th. The construction company reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.59 by $0.32. The firm had revenue of $479.11 million during the quarter, compared to the consensus estimate of $451.99 million. Eagle Materials had a return on equity of 28.27% and a net margin of 18.36%.The business's revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.00 EPS. On average, sell-side analysts expect that Eagle Materials Inc will post 12.9 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, June 15th were issued a $0.25 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Eagle Materials's dividend payout ratio (DPR) is presently 7.62%.

About Eagle Materials

Eagle Materials Inc NYSE: EXP is a Dallas, Texas–based manufacturer of building materials serving construction and heavy industry markets across the United States. The company's primary products include portland and masonry cements, gypsum wallboard, lightweight aggregate, paperboard packaging, and roofing granules. These product lines support a wide range of end uses—from residential and commercial buildings to infrastructure projects and industrial applications.

Since its spin-off from a major homebuilding company in 2004, Eagle Materials has grown through targeted facility expansions and strategic acquisitions.

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