Fort Washington Investment Advisors Inc. OH Sells 11,327 Shares of Eagle Materials Inc $EXP

Key Points

• Fort Washington Investment Advisors Inc. OH has reduced its stake in Eagle Materials Inc by 12.3%, selling 11,327 shares and now owning approximately 80,851 shares worth $16.34 million.
• Analyst ratings for Eagle Materials are mixed, with three analysts giving it a Buy rating and six assigning a Hold rating, and a consensus price target of $254.78.
• Eagle Materials has announced a quarterly dividend of $0.25 per share, which will be paid to shareholders on October 16th, representing an annualized yield of 0.4%.

Fort Washington Investment Advisors Inc. OH lowered its stake in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 12.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,851 shares of the construction company's stock after selling 11,327 shares during the period. Fort Washington Investment Advisors Inc. OH owned approximately 0.25% of Eagle Materials worth $16,341,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of EXP. Transce3nd LLC grew its holdings in Eagle Materials by 9.7% during the first quarter. Transce3nd LLC now owns 552 shares of the construction company's stock valued at $122,000 after purchasing an additional 49 shares during the period. Parallel Advisors LLC increased its position in shares of Eagle Materials by 26.8% in the 1st quarter. Parallel Advisors LLC now owns 246 shares of the construction company's stock valued at $55,000 after buying an additional 52 shares in the last quarter. Sheets Smith Wealth Management raised its stake in Eagle Materials by 2.0% during the 2nd quarter. Sheets Smith Wealth Management now owns 2,750 shares of the construction company's stock worth $556,000 after buying an additional 54 shares during the period. Fulton Bank N.A. raised its stake in Eagle Materials by 6.1% during the 2nd quarter. Fulton Bank N.A. now owns 1,084 shares of the construction company's stock worth $219,000 after buying an additional 62 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in Eagle Materials by 0.4% during the first quarter. State of Alaska Department of Revenue now owns 17,433 shares of the construction company's stock worth $3,868,000 after acquiring an additional 75 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on EXP. JPMorgan Chase & Co. increased their price target on Eagle Materials from $220.00 to $245.00 and gave the stock a "neutral" rating in a report on Tuesday, August 26th. Loop Capital boosted their price objective on Eagle Materials from $230.00 to $245.00 and gave the company a "hold" rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen upgraded shares of Eagle Materials from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $254.78.

Eagle Materials Price Performance

Shares of EXP opened at $232.75 on Monday. The company has a current ratio of 2.73, a quick ratio of 1.26 and a debt-to-equity ratio of 0.87. The company's fifty day simple moving average is $229.33 and its 200 day simple moving average is $220.75. Eagle Materials Inc has a 1-year low of $191.91 and a 1-year high of $321.93. The company has a market cap of $7.55 billion, a price-to-earnings ratio of 17.14 and a beta of 1.28.

Eagle Materials (NYSE:EXP - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The construction company reported $3.76 EPS for the quarter, beating analysts' consensus estimates of $3.73 by $0.03. The company had revenue of $634.69 million during the quarter, compared to the consensus estimate 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 forecast that Eagle Materials Inc will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Monday, September 15th will be paid a $0.25 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.00 annualized dividend and a yield of 0.4%. Eagle Materials's dividend payout ratio is currently 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.

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