M&T Bank Corp Has $2.50 Million Stake in Eagle Materials Inc $EXP

Key Points

• M&T Bank Corp boosted its position in Eagle Materials by 415.8% in Q4, adding 9,751 shares to hold 12,096 shares valued at about $2.50 million.
• Analyst consensus is a "Hold" with a consensus target of $228.82 (2 Buys, 10 Holds, 1 Sell among surveyed analysts).
• Eagle Materials missed Q4 EPS ($3.22 vs. $3.32 est.), its shares trade at $210.08 (market cap ~$6.6B), and it pays a $1.00 annual dividend (~0.5% yield).

M&T Bank Corp lifted its position in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 415.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,096 shares of the construction company's stock after purchasing an additional 9,751 shares during the quarter. M&T Bank Corp's holdings in Eagle Materials were worth $2,500,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Park Avenue Securities LLC raised its position in shares of Eagle Materials by 1.5% during the third quarter. Park Avenue Securities LLC now owns 2,962 shares of the construction company's stock worth $690,000 after purchasing an additional 45 shares during the period. Caisse de depot et placement du Quebec raised its position in shares of Eagle Materials by 3.6% during the third quarter. Caisse de depot et placement du Quebec now owns 1,426 shares of the construction company's stock worth $332,000 after purchasing an additional 50 shares during the period. Signaturefd LLC raised its position in shares of Eagle Materials by 15.8% during the fourth quarter. Signaturefd LLC now owns 389 shares of the construction company's stock worth $80,000 after purchasing an additional 53 shares during the period. Smartleaf Asset Management LLC raised its position in Eagle Materials by 20.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 326 shares of the construction company's stock valued at $76,000 after buying an additional 55 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Eagle Materials by 5.9% in the 4th quarter. GAMMA Investing LLC now owns 1,048 shares of the construction company's stock valued at $217,000 after buying an additional 58 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Zacks Research raised Eagle Materials from a "strong sell" rating to a "hold" rating in a research report on Monday, March 23rd. Wells Fargo & Company increased their price target on Eagle Materials from $240.00 to $246.00 and gave the company an "overweight" rating in a research report on Wednesday, April 15th. Weiss Ratings reissued a "hold (c+)" rating on shares of Eagle Materials in a research report on Monday, December 29th. Stephens reissued an "equal weight" rating and issued a $245.00 price target on shares of Eagle Materials in a research report on Tuesday, January 20th. Finally, JPMorgan Chase & Co. reissued an "underweight" rating and issued a $215.00 price target (down from $230.00) on shares of Eagle Materials in a research report on Monday, February 16th. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Eagle Materials has an average rating of "Hold" and a consensus target price of $228.82.

Eagle Materials Trading Up 0.6%

NYSE EXP opened at $210.08 on Tuesday. The firm has a market capitalization of $6.60 billion, a P/E ratio of 15.90 and a beta of 1.39. The business has a fifty day simple moving average of $200.70 and a 200 day simple moving average of $213.72. Eagle Materials Inc has a 12 month low of $171.99 and a 12 month high of $243.64. The company has a current ratio of 4.27, a quick ratio of 2.68 and a debt-to-equity ratio of 1.17.

Eagle Materials (NYSE:EXP - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The construction company reported $3.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.32 by ($0.10). The business had revenue of $555.96 million during the quarter, compared to the consensus estimate of $556.41 million. Eagle Materials had a net margin of 18.70% and a return on equity of 28.96%. The firm's revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the company earned $3.59 EPS. On average, analysts predict that Eagle Materials Inc will post 12.74 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 13th. Shareholders of record on Monday, March 16th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Monday, March 16th. Eagle Materials's dividend payout ratio is 7.57%.

About Eagle Materials

Eagle Materials Inc NYSE: EXP is a Dallas, Texas–based manufacturer of building materials serving construction and heavy industry markets across the United States. The company's primary products include portland and masonry cements, gypsum wallboard, lightweight aggregate, paperboard packaging, and roofing granules. These product lines support a wide range of end uses—from residential and commercial buildings to infrastructure projects and industrial applications.

Since its spin-off from a major homebuilding company in 2004, Eagle Materials has grown through targeted facility expansions and strategic acquisitions.

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