Vestcor Inc Raises Holdings in Eagle Materials Inc (NYSE:EXP)

Vestcor Inc grew its stake in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 94.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,787 shares of the construction company's stock after acquiring an additional 2,327 shares during the quarter. Vestcor Inc's holdings in Eagle Materials were worth $1,062,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of EXP. Geode Capital Management LLC increased its holdings in shares of Eagle Materials by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 722,995 shares of the construction company's stock valued at $178,450,000 after purchasing an additional 15,388 shares during the period. Baupost Group LLC MA increased its holdings in Eagle Materials by 27.6% in the 4th quarter. Baupost Group LLC MA now owns 638,223 shares of the construction company's stock worth $157,488,000 after buying an additional 137,950 shares during the period. Federated Hermes Inc. increased its holdings in Eagle Materials by 10.3% in the 4th quarter. Federated Hermes Inc. now owns 594,899 shares of the construction company's stock worth $146,797,000 after buying an additional 55,578 shares during the period. Epoch Investment Partners Inc. raised its position in Eagle Materials by 2.4% during the 4th quarter. Epoch Investment Partners Inc. now owns 592,069 shares of the construction company's stock worth $146,099,000 after buying an additional 13,988 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in Eagle Materials by 4.5% during the 4th quarter. Captrust Financial Advisors now owns 365,330 shares of the construction company's stock valued at $90,149,000 after acquiring an additional 15,574 shares during the period. 96.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on EXP shares. Loop Capital increased their price objective on shares of Eagle Materials from $230.00 to $245.00 and gave the stock a "hold" rating in a research note on Wednesday. Stifel Nicolaus set a $241.00 price target on Eagle Materials and gave the stock a "hold" rating in a research report on Wednesday, May 21st. The Goldman Sachs Group set a $242.00 price objective on Eagle Materials and gave the company a "buy" rating in a research note on Wednesday, May 21st. DA Davidson lowered their target price on Eagle Materials from $260.00 to $245.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Finally, Citigroup reduced their price target on Eagle Materials from $279.00 to $230.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eagle Materials presently has an average rating of "Hold" and an average price target of $255.33.

Eagle Materials Price Performance

Shares of Eagle Materials stock opened at $220.33 on Friday. The firm has a market cap of $7.15 billion, a PE ratio of 16.22 and a beta of 1.24. Eagle Materials Inc has a twelve month low of $191.91 and a twelve month high of $321.93. The company has a quick ratio of 1.03, a current ratio of 2.73 and a debt-to-equity ratio of 0.87. The business has a 50-day moving average price of $209.82 and a 200 day moving average price of $223.97.

Eagle Materials (NYSE:EXP - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The construction company reported $3.76 EPS for the quarter, beating analysts' consensus estimates of $3.73 by $0.03. The business had revenue of $634.69 million during the quarter, compared to analysts' expectations of $611.52 million. Eagle Materials had a return on equity of 31.21% and a net margin of 19.81%. Sell-side 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 disclosed a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Monday, June 16th were issued a $0.25 dividend. The ex-dividend date was Monday, June 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Eagle Materials's dividend payout ratio (DPR) is presently 7.27%.

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.

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