Federated Hermes Inc. Sells 10,802 Shares of Eagle Materials Inc (NYSE:EXP)

Key Points

• Federated Hermes Inc. sold 10,802 shares of Eagle Materials Inc., decreasing its position by 1.8%, and now holds 1.75% of the company valued at approximately $129.6 million.
• Eagle Materials reported earnings of $2.08 per share for the quarter, missing expectations by $0.26, with a revenue decline of 1.4% compared to the previous year.
• The company announced a quarterly dividend of $0.25 per share, representing a 0.45% yield, with a payout ratio of 7.27% as of the last announcement.

Federated Hermes Inc. trimmed its position in Eagle Materials Inc (NYSE:EXP - Free Report) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 584,097 shares of the construction company's stock after selling 10,802 shares during the quarter. Federated Hermes Inc. owned 1.75% of Eagle Materials worth $129,629,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Huntington National Bank increased its stake in Eagle Materials by 154.8% in the fourth quarter. Huntington National Bank now owns 237 shares of the construction company's stock valued at $58,000 after acquiring an additional 144 shares during the last quarter. Parallel Advisors LLC grew its stake 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 worth $55,000 after buying an additional 52 shares during the last quarter. Private Trust Co. NA grew its stake in shares of Eagle Materials by 39.0% during the first quarter. Private Trust Co. NA now owns 285 shares of the construction company's stock worth $63,000 after buying an additional 80 shares during the last quarter. Assetmark Inc. grew its stake in shares of Eagle Materials by 486.6% during the first quarter. Assetmark Inc. now owns 393 shares of the construction company's stock worth $87,000 after buying an additional 326 shares during the last quarter. Finally, LGT Financial Advisors LLC grew its stake in shares of Eagle Materials by 233.1% during the fourth quarter. LGT Financial Advisors LLC now owns 443 shares of the construction company's stock worth $109,000 after buying an additional 310 shares during the last quarter. 96.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EXP has been the topic of a number of research reports. Loop Capital boosted their target price on shares of Eagle Materials from $230.00 to $245.00 and gave the stock a "hold" rating in a research note on Wednesday. DA Davidson decreased their target price on shares of Eagle Materials from $260.00 to $245.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Stephens set a $255.00 target price on shares of Eagle Materials and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Wall Street Zen cut shares of Eagle Materials from a "hold" rating to a "sell" rating in a research note on Sunday, July 6th. Finally, Truist Financial decreased their target price on shares of Eagle Materials from $330.00 to $280.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $255.33.

Eagle Materials Trading Down 1.7%

Shares of NYSE:EXP traded down $3.88 during mid-day trading on Friday, reaching $220.41. 331,775 shares of the company's stock were exchanged, compared to its average volume of 405,367. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 16.23 and a beta of 1.26. The business's fifty day moving average price is $209.71 and its 200-day moving average price is $224.13. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.03 and a current ratio of 2.73. 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 results on Tuesday, July 29th. The construction company reported $3.76 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 19.81% and a return on equity of 31.21%. On average, research analysts predict that Eagle Materials Inc will post 14.39 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Monday, June 16th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, June 16th. Eagle Materials's dividend payout ratio (DPR) is currently 7.27%.

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.