Handelsbanken Fonder AB Has $43.88 Million Stake in Eagle Materials Inc. (NYSE:EXP)

Handelsbanken Fonder AB decreased its holdings in Eagle Materials Inc. (NYSE:EXP - Free Report) by 32.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 197,730 shares of the construction company's stock after selling 96,000 shares during the period. Handelsbanken Fonder AB owned approximately 0.59% of Eagle Materials worth $43,882,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of EXP. Empowered Funds LLC raised its holdings in Eagle Materials by 242.4% in the fourth quarter. Empowered Funds LLC now owns 7,789 shares of the construction company's stock valued at $1,922,000 after buying an additional 5,514 shares during the period. Guided Capital Wealth Management LLC acquired a new stake in Eagle Materials in the fourth quarter valued at approximately $947,000. Davidson Capital Management Inc. grew its position in Eagle Materials by 2.6% in the fourth quarter. Davidson Capital Management Inc. now owns 13,066 shares of the construction company's stock valued at $3,224,000 after acquiring an additional 335 shares in the last quarter. Van ECK Associates Corp grew its position in Eagle Materials by 41.7% in the fourth quarter. Van ECK Associates Corp now owns 31,865 shares of the construction company's stock valued at $7,863,000 after acquiring an additional 9,380 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Eagle Materials by 7.1% in the fourth quarter. Blue Trust Inc. now owns 920 shares of the construction company's stock valued at $227,000 after acquiring an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on EXP shares. DA Davidson decreased their price target on shares of Eagle Materials from $260.00 to $245.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Stephens set a $255.00 price target on shares of Eagle Materials and gave the stock an "overweight" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. decreased their price target on shares of Eagle Materials from $310.00 to $250.00 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Citigroup decreased their price target on shares of Eagle Materials from $279.00 to $230.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Finally, Wall Street Zen downgraded shares of Eagle Materials from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $254.44.

Eagle Materials Stock Performance

EXP traded down $5.83 during trading hours on Wednesday, hitting $197.72. 422,865 shares of the stock were exchanged, compared to its average volume of 347,445. The stock has a 50-day simple moving average of $218.35 and a 200-day simple moving average of $238.11. Eagle Materials Inc. has a 12 month low of $195.80 and a 12 month high of $321.93. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 14.12 and a beta of 1.28. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.76 and a quick ratio of 1.01.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The construction company reported $2.08 earnings per share for the quarter, missing analysts' consensus estimates of $2.34 by ($0.26). Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. The company had revenue of $470.18 million for the quarter, compared to the consensus estimate of $483.14 million. During the same quarter in the prior year, the firm earned $2.24 earnings per share. Eagle Materials's revenue for the quarter was down 1.4% compared to the same quarter last year. Analysts anticipate that Eagle Materials Inc. will post 14.39 earnings per share for the current year.

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Monday, June 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.51%. Eagle Materials's dividend payout ratio is currently 7.27%.

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.