Voya Investment Management LLC Reduces Stock Holdings in Eagle Materials Inc $EXP

Key Points

• Voya Investment Management LLC reduced its stake in Eagle Materials Inc by 13.7%, selling 1,892 shares and valuing its remaining holdings at $2,652,000.
• Eagle Materials reported a quarterly earnings per share (EPS) of $3.76, surpassing analysts' expectations, while its revenue reached $634.69 million.
• The company is set to pay a dividend of $0.25 per share on October 16th, which translates to an annualized dividend yield of 0.4%.

Voya Investment Management LLC trimmed its holdings in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 13.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,948 shares of the construction company's stock after selling 1,892 shares during the period. Voya Investment Management LLC's holdings in Eagle Materials were worth $2,652,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in EXP. D. E. Shaw & Co. Inc. raised its stake in shares of Eagle Materials by 106.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,479 shares of the construction company's stock worth $365,000 after purchasing an additional 23,815 shares during the period. Millennium Management LLC grew its holdings in Eagle Materials by 18.9% during the 4th quarter. Millennium Management LLC now owns 5,163 shares of the construction company's stock valued at $1,274,000 after buying an additional 821 shares in the last quarter. Quantinno Capital Management LP grew its holdings in shares of Eagle Materials by 126.9% during the fourth quarter. Quantinno Capital Management LP now owns 1,813 shares of the construction company's stock worth $448,000 after purchasing an additional 1,014 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Eagle Materials by 7.0% during the fourth quarter. ProShare Advisors LLC now owns 1,569 shares of the construction company's stock worth $387,000 after purchasing an additional 103 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in Eagle Materials by 4.6% in the 4th quarter. Tidal Investments LLC now owns 3,267 shares of the construction company's stock worth $806,000 after buying an additional 144 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EXP. Wall Street Zen upgraded Eagle Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Citigroup lowered their price objective 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. JPMorgan Chase & Co. boosted their price objective on Eagle Materials from $220.00 to $245.00 and gave the company a "neutral" rating in a research report on Tuesday, August 26th. Finally, Loop Capital boosted their price objective on Eagle Materials from $230.00 to $245.00 and gave the company a "hold" rating in a research report on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $254.78.

Eagle Materials Price Performance

EXP traded up $1.55 on Tuesday, hitting $229.66. 136,684 shares of the company's stock traded hands, compared to its average volume of 393,974. The company's 50 day simple moving average is $228.15 and its 200-day simple moving average is $220.26. The firm has a market cap of $7.45 billion, a price-to-earnings ratio of 16.91 and a beta of 1.28. Eagle Materials Inc has a one year low of $191.91 and a one year high of $321.93. 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 (NYSE:EXP - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The construction company reported $3.76 earnings per share for the quarter, beating the consensus estimate 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%. As a group, research analysts anticipate that Eagle Materials Inc will post 14.39 EPS for the current year.

Eagle Materials Dividend Announcement

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