Eagle Materials Inc $EXP Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Eagle Materials Inc by 3.5%, selling 9,919 shares but still holding 276,847 shares worth about $61.4 million.
• Many large investors have recently altered their positions in Eagle Materials, with some increasing their holdings significantly, bringing institutional ownership to 96.07%.
• Eagle Materials announced a quarterly dividend of $0.25 per share, which will be paid on October 16th, reflecting an annualized dividend yield of 0.4%.

Northern Trust Corp lowered its holdings in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 276,847 shares of the construction company's stock after selling 9,919 shares during the quarter. Northern Trust Corp owned 0.83% of Eagle Materials worth $61,441,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in EXP. Parallel Advisors LLC lifted its holdings in shares of Eagle Materials by 26.8% in the 1st quarter. Parallel Advisors LLC now owns 246 shares of the construction company's stock worth $55,000 after acquiring an additional 52 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of Eagle Materials by 39.0% in the 1st quarter. Private Trust Co. NA now owns 285 shares of the construction company's stock worth $63,000 after acquiring an additional 80 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Eagle Materials by 486.6% in the 1st quarter. Assetmark Inc. now owns 393 shares of the construction company's stock worth $87,000 after acquiring an additional 326 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Eagle Materials by 39.1% in the 1st quarter. Signaturefd LLC now owns 466 shares of the construction company's stock worth $103,000 after acquiring an additional 131 shares during the last quarter. Finally, LGT Financial Advisors LLC lifted its holdings in shares of Eagle Materials by 233.1% in the 4th quarter. LGT Financial Advisors LLC now owns 443 shares of the construction company's stock worth $109,000 after acquiring an additional 310 shares during the last quarter. Institutional investors own 96.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Loop Capital raised their target price on shares of Eagle Materials from $230.00 to $245.00 and gave the stock a "hold" rating in a report on Wednesday, July 30th. Wall Street Zen upgraded shares of Eagle Materials from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. DA Davidson decreased their price objective on shares of Eagle Materials from $260.00 to $245.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Stephens set a $255.00 price objective on shares of Eagle Materials and gave the company an "overweight" rating in a report on Thursday, May 22nd. Finally, Citigroup decreased their price objective on shares of Eagle Materials from $279.00 to $230.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $254.78.

Eagle Materials Stock Performance

NYSE:EXP traded up $0.07 during trading hours on Monday, hitting $230.56. 274,962 shares of the company were exchanged, compared to its average volume of 311,441. The stock has a market capitalization of $7.48 billion, a price-to-earnings ratio of 16.98 and a beta of 1.28. Eagle Materials Inc has a 52-week low of $191.91 and a 52-week high of $321.93. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.73 and a quick ratio of 1.26. The company's 50 day moving average price is $222.12 and its 200-day moving average price is $219.81.

Eagle Materials (NYSE:EXP - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The construction company reported $3.76 EPS for the quarter, beating the consensus estimate of $3.73 by $0.03. Eagle Materials had a net margin of 19.81% and a return on equity of 31.21%. The business had revenue of $634.69 million for the quarter, compared to the consensus estimate of $611.52 million. As a group, research analysts forecast that Eagle Materials Inc will post 14.39 earnings per share for the current year.

Eagle Materials Announces Dividend

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

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.