TD Asset Management Inc Sells 64,318 Shares of Eagle Materials Inc $EXP

Key Points

• TD Asset Management Inc has reduced its stake in Eagle Materials Inc by 9.9%, selling 64,318 shares during the second quarter, resulting in approximately 1.80% ownership valued at $118.6 million.
• Eagle Materials reported earnings of $3.76 per share for the last quarter, surpassing analysts' expectations and generating revenue of $634.69 million.
• The company declared a quarterly dividend of $0.25 per share, reflecting an annualized dividend yield of 0.4%, with the payment date set for October 16th.

TD Asset Management Inc reduced its holdings in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 9.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 586,788 shares of the construction company's stock after selling 64,318 shares during the quarter. TD Asset Management Inc owned approximately 1.80% of Eagle Materials worth $118,596,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. RFG Advisory LLC boosted its stake in shares of Eagle Materials by 6.6% during the 2nd quarter. RFG Advisory LLC now owns 11,034 shares of the construction company's stock worth $2,230,000 after acquiring an additional 683 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Eagle Materials in the 2nd quarter valued at $403,000. Allspring Global Investments Holdings LLC boosted its stake in Eagle Materials by 4.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 734,541 shares of the construction company's stock valued at $153,607,000 after purchasing an additional 28,559 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in Eagle Materials by 3.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,522 shares of the construction company's stock valued at $914,000 after purchasing an additional 165 shares during the period. Finally, Blue Trust Inc. boosted its stake in Eagle Materials by 5.2% in the 2nd quarter. Blue Trust Inc. now owns 1,146 shares of the construction company's stock valued at $232,000 after purchasing an additional 57 shares during the period. 96.07% of the stock is currently owned by institutional investors.

Eagle Materials Stock Performance

NYSE:EXP opened at $238.91 on Wednesday. The stock has a fifty day moving average price of $232.02 and a 200-day moving average price of $221.82. The company has a market cap of $7.75 billion, a price-to-earnings ratio of 17.59 and a beta of 1.31. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.26 and a current ratio of 2.73. Eagle Materials Inc has a fifty-two week low of $191.91 and a fifty-two week high of $321.93.

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

Eagle Materials Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EXP. JPMorgan Chase & Co. boosted their price target on Eagle Materials from $220.00 to $245.00 and gave the company a "neutral" rating in a research note on Tuesday, August 26th. Wall Street Zen upgraded Eagle Materials from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Loop Capital boosted their price target on Eagle Materials from $230.00 to $245.00 and gave the company a "hold" rating in a research note on Wednesday, July 30th. Weiss Ratings restated a "hold (c+)" rating on shares of Eagle Materials in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company upgraded Eagle Materials to a "strong-buy" rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $255.40.

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.

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