Mad River Investors Sells 3,270 Shares of Eagle Materials Inc (NYSE:EXP)

Mad River Investors cut its stake in Eagle Materials Inc (NYSE:EXP - Free Report) by 60.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,106 shares of the construction company's stock after selling 3,270 shares during the quarter. Eagle Materials comprises about 0.2% of Mad River Investors' holdings, making the stock its 21st largest position. Mad River Investors' holdings in Eagle Materials were worth $467,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of EXP. Two Sigma Advisers LP increased its position in shares of Eagle Materials by 8.7% in the fourth quarter. Two Sigma Advisers LP now owns 22,400 shares of the construction company's stock worth $5,527,000 after purchasing an additional 1,800 shares during the last quarter. ArrowMark Colorado Holdings LLC purchased a new position in shares of Eagle Materials in the fourth quarter worth about $28,778,000. Two Sigma Investments LP lifted its position in Eagle Materials by 329.5% in the fourth quarter. Two Sigma Investments LP now owns 24,296 shares of the construction company's stock valued at $5,995,000 after purchasing an additional 18,639 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Eagle Materials in the fourth quarter worth approximately $8,890,000. Finally, Perennial Advisors LLC bought a new position in shares of Eagle Materials in the first quarter worth approximately $1,147,000. 96.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EXP. Wall Street Zen lowered shares of Eagle Materials from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. JPMorgan Chase & Co. dropped their price objective on Eagle Materials from $310.00 to $250.00 and set a "neutral" rating for the company in a report on Wednesday, March 19th. Citigroup decreased their target price on Eagle Materials from $279.00 to $230.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. The Goldman Sachs Group set a $242.00 price objective on Eagle Materials and gave the company a "buy" rating in a research report on Wednesday, May 21st. Finally, Stifel Nicolaus set a $241.00 price objective on shares of Eagle Materials and gave the stock a "hold" rating in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Eagle Materials presently has an average rating of "Hold" and a consensus price target of $254.44.

Eagle Materials Stock Performance

Shares of EXP traded down $4.99 on Wednesday, reaching $200.93. The company's stock had a trading volume of 432,212 shares, compared to its average volume of 349,091. Eagle Materials Inc has a 12-month low of $191.91 and a 12-month high of $321.93. The stock's 50 day simple moving average is $214.46 and its two-hundred day simple moving average is $230.76. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.73 and a quick ratio of 1.03. The stock has a market capitalization of $6.56 billion, a P/E ratio of 14.60 and a beta of 1.28.

Eagle Materials (NYSE:EXP - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The construction company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.26). Eagle Materials had a return on equity of 32.71% and a net margin of 20.50%. The company had revenue of $470.18 million during the quarter, compared to the consensus estimate of $483.14 million. During the same period last year, the business earned $2.24 EPS. The firm's quarterly revenue was down 1.4% compared to the same quarter last year. Research analysts forecast that Eagle Materials Inc will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.50%. The ex-dividend date is Monday, June 16th. Eagle Materials's dividend payout ratio is presently 7.27%.

Eagle Materials 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.