Eagle Materials Inc $EXP Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its holdings in Eagle Materials Inc by 7.5%, selling 17,936 shares to end up with 222,513 shares valued at approximately $49.38 million.
• In the 1st quarter, other large investors such as AQR Capital Management and Curi RMB Capital LLC increased their stakes in Eagle Materials, indicating ongoing institutional interest.
• Eagle Materials reported better-than-expected earnings of $3.76 per share and revenue of $634.69 million, surpassing consensus estimates, which suggests strong performance amidst market fluctuations.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its position in Eagle Materials Inc (NYSE:EXP - Free Report) by 7.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 222,513 shares of the construction company's stock after selling 17,936 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.67% of Eagle Materials worth $49,382,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. SVB Wealth LLC bought a new position in Eagle Materials in the first quarter valued at about $41,000. Parallel Advisors LLC lifted its holdings in Eagle Materials by 26.8% in the first quarter. Parallel Advisors LLC now owns 246 shares of the construction company's stock valued at $55,000 after acquiring an additional 52 shares during the period. Private Trust Co. NA lifted its holdings in Eagle Materials by 39.0% in the first quarter. Private Trust Co. NA now owns 285 shares of the construction company's stock valued at $63,000 after acquiring an additional 80 shares during the period. Assetmark Inc. lifted its holdings in Eagle Materials by 486.6% in the first quarter. Assetmark Inc. now owns 393 shares of the construction company's stock valued at $87,000 after acquiring an additional 326 shares during the period. Finally, Signaturefd LLC lifted its holdings in Eagle Materials by 39.1% in the first quarter. Signaturefd LLC now owns 466 shares of the construction company's stock valued at $103,000 after acquiring an additional 131 shares during the period. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Materials Stock Up 2.3%

Shares of NYSE EXP traded up $5.37 during midday trading on Thursday, reaching $236.21. 73,371 shares of the company's stock traded hands, compared to its average volume of 392,795. The stock's 50 day simple moving average is $225.76 and its 200-day simple moving average is $219.68. The company has a quick ratio of 1.26, a current ratio of 2.73 and a debt-to-equity ratio of 0.87. The company has a market cap of $7.67 billion, a price-to-earnings ratio of 17.42 and a beta of 1.28. Eagle Materials Inc has a one year low of $191.91 and a one year high of $321.93.

Eagle Materials (NYSE:EXP - Get Free Report) last posted its earnings results on Tuesday, July 29th. The construction company reported $3.76 earnings per share for the quarter, topping analysts' consensus estimates of $3.73 by $0.03. The company had revenue of $634.69 million during the quarter, compared to analyst estimates of $611.52 million. Eagle Materials had a return on equity of 31.21% and a net margin of 19.81%. On average, analysts predict that Eagle Materials Inc will post 14.39 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.4%. Eagle Materials's dividend payout ratio is presently 7.36%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EXP. 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 report on Wednesday, May 21st. Citigroup cut their price target on Eagle Materials from $279.00 to $230.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. DA Davidson cut their price target on Eagle Materials from $260.00 to $245.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Stifel Nicolaus set a $241.00 price target on Eagle Materials and gave the company a "hold" rating in a report on Wednesday, May 21st. Finally, Stephens set a $255.00 price target on Eagle Materials and gave the company an "overweight" rating in a report on Thursday, May 22nd. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $254.78.

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.