Russell Investments Group Ltd. Trims Stock Position in Eagle Materials Inc $EXP

Key Points

• Russell Investments Group Ltd. reduced its stake in Eagle Materials Inc by 5.5%, selling 1,277 shares, and now owns 22,106 shares worth approximately $4.91 million.
• Eagle Materials reported earnings of $3.76 per share, exceeding analyst expectations of $3.73, with a total revenue of $634.69 million for the quarter.
• The company declared a quarterly dividend of $0.25 per share, representing an annualized $1.00 dividend with a yield of 0.4%, set to be paid on October 16th.

Russell Investments Group Ltd. decreased its holdings in Eagle Materials Inc (NYSE:EXP - Free Report) by 5.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,106 shares of the construction company's stock after selling 1,277 shares during the period. Russell Investments Group Ltd. owned 0.07% of Eagle Materials worth $4,906,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Bridges Investment Management Inc. increased its stake in shares of Eagle Materials by 111.4% in the first quarter. Bridges Investment Management Inc. now owns 6,918 shares of the construction company's stock worth $1,535,000 after purchasing an additional 3,645 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Eagle Materials by 234.6% in the first quarter. Teacher Retirement System of Texas now owns 4,905 shares of the construction company's stock worth $1,089,000 after purchasing an additional 3,439 shares in the last quarter. Hi Line Capital Management LLC purchased a new position in shares of Eagle Materials in the first quarter worth about $4,770,000. GAMMA Investing LLC increased its stake in shares of Eagle Materials by 21.2% in the first quarter. GAMMA Investing LLC now owns 819 shares of the construction company's stock worth $182,000 after purchasing an additional 143 shares in the last quarter. Finally, Private Trust Co. NA increased its stake in shares of Eagle Materials by 39.0% in the first quarter. Private Trust Co. NA now owns 285 shares of the construction company's stock worth $63,000 after purchasing an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company's stock.

Eagle Materials Trading Down 0.5%

Shares of EXP traded down $1.20 during mid-day trading on Wednesday, reaching $235.98. The company's stock had a trading volume of 275,960 shares, compared to its average volume of 343,020. The stock has a market cap of $7.66 billion, a PE ratio of 17.38 and a beta of 1.24. The company has a current ratio of 2.73, a quick ratio of 1.26 and a debt-to-equity ratio of 0.87. Eagle Materials Inc has a 52 week low of $191.91 and a 52 week high of $321.93. The company's fifty day moving average price is $220.17 and its two-hundred day moving average price is $220.70.

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

Eagle Materials Dividend Announcement

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

Analyst Ratings Changes

EXP has been the subject of several recent analyst reports. DA Davidson reduced their price objective on shares of Eagle Materials from $260.00 to $245.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Citigroup reduced their price objective on shares of Eagle Materials from $279.00 to $230.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Wall Street Zen raised shares of Eagle Materials from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. 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. Finally, Stifel Nicolaus set a $241.00 price objective on shares of Eagle Materials and gave the company a "hold" rating in a research note on Wednesday, May 21st. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $254.78.

Eagle Materials Company 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.