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Handelsbanken Fonder AB Reduces Stock Holdings in Eagle Materials Inc. (NYSE:EXP)

Eagle Materials logo with Construction background

Handelsbanken Fonder AB reduced its stake in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) by 32.7% in the first quarter, according to its most recent filing with the SEC. The fund 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 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank purchased a new stake in Eagle Materials during the fourth quarter valued at about $93,672,000. GAMMA Investing LLC boosted its holdings in shares of Eagle Materials by 26,787.7% in the 1st quarter. GAMMA Investing LLC now owns 181,761 shares of the construction company's stock worth $40,338,000 after purchasing an additional 181,085 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Eagle Materials during the 4th quarter valued at about $38,115,000. Baupost Group LLC MA raised its holdings in shares of Eagle Materials by 27.6% during the 4th quarter. Baupost Group LLC MA now owns 638,223 shares of the construction company's stock valued at $157,488,000 after buying an additional 137,950 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC purchased a new position in shares of Eagle Materials during the 4th quarter valued at about $28,778,000. 96.07% of the stock is owned by institutional investors.

Eagle Materials Trading Down 3.3%

NYSE:EXP traded down $6.77 during midday trading on Friday, reaching $195.80. 282,765 shares of the stock traded hands, compared to its average volume of 348,213. The stock has a market capitalization of $6.40 billion, a P/E ratio of 13.99 and a beta of 1.28. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 2.76. The company has a fifty day moving average of $217.97 and a 200 day moving average of $236.54. Eagle Materials Inc. has a 12 month low of $194.68 and a 12 month high of $321.93.

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

Eagle Materials Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have commented on EXP shares. Wall Street Zen cut shares of Eagle Materials from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. The Goldman Sachs Group set a $242.00 price objective on shares of Eagle Materials and gave the company a "buy" rating in a research note on Wednesday, May 21st. JPMorgan Chase & Co. reduced their target price on shares of Eagle Materials from $310.00 to $250.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. Loop Capital decreased their target price on shares of Eagle Materials from $245.00 to $237.00 and set a "hold" rating on the stock in a research report on Wednesday, May 21st. Finally, DA Davidson cut 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Eagle Materials presently has an average rating of "Hold" and an average target price of $254.44.

View Our Latest Research Report on Eagle Materials

About Eagle Materials

(Free Report)

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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Institutional Ownership by Quarter for Eagle Materials (NYSE:EXP)

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