Victory Capital Management Inc. Reduces Position in Eagle Materials Inc. (NYSE:EXP)

Victory Capital Management Inc. lowered its holdings in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) by 5.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 381,719 shares of the construction company's stock after selling 23,310 shares during the quarter. Victory Capital Management Inc. owned approximately 1.11% of Eagle Materials worth $77,428,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its holdings in Eagle Materials by 41.0% in the 3rd quarter. FMR LLC now owns 2,510,906 shares of the construction company's stock worth $418,116,000 after purchasing an additional 730,454 shares during the period. Invesco Ltd. raised its holdings in Eagle Materials by 22.8% in the 3rd quarter. Invesco Ltd. now owns 1,097,542 shares of the construction company's stock worth $182,763,000 after purchasing an additional 203,862 shares during the period. William Blair Investment Management LLC raised its holdings in Eagle Materials by 271.7% in the 3rd quarter. William Blair Investment Management LLC now owns 666,874 shares of the construction company's stock worth $111,048,000 after purchasing an additional 487,454 shares during the period. Brown Advisory Inc. raised its holdings in Eagle Materials by 1.1% in the 3rd quarter. Brown Advisory Inc. now owns 334,785 shares of the construction company's stock worth $55,748,000 after purchasing an additional 3,496 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Eagle Materials by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 329,032 shares of the construction company's stock worth $54,790,000 after purchasing an additional 5,609 shares during the period. Institutional investors own 96.07% of the company's stock.

Insider Activity at Eagle Materials

In related news, Director David B. Powers sold 3,347 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $240.52, for a total transaction of $805,020.44. Following the completion of the transaction, the director now directly owns 655 shares of the company's stock, valued at $157,540.60. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Matt Newby sold 2,940 shares of the firm's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $251.15, for a total value of $738,381.00. Following the completion of the sale, the executive vice president now directly owns 21,819 shares in the company, valued at $5,479,841.85. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David B. Powers sold 3,347 shares of the business's stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $240.52, for a total transaction of $805,020.44. Following the transaction, the director now owns 655 shares in the company, valued at approximately $157,540.60. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Eagle Materials Price Performance

Eagle Materials stock traded up $4.19 during midday trading on Friday, reaching $261.12. 393,279 shares of the stock traded hands, compared to its average volume of 261,444. The stock's fifty day moving average is $256.72 and its 200-day moving average is $217.61. Eagle Materials Inc. has a 12 month low of $145.03 and a 12 month high of $272.72. The stock has a market cap of $9.00 billion, a P/E ratio of 18.43 and a beta of 1.35. The company has a quick ratio of 1.13, a current ratio of 2.61 and a debt-to-equity ratio of 0.77.

Eagle Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Thursday, March 14th. Eagle Materials's payout ratio is presently 7.06%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. StockNews.com cut Eagle Materials from a "buy" rating to a "hold" rating in a report on Wednesday, April 10th. Truist Financial upped their price objective on Eagle Materials from $290.00 to $320.00 and gave the stock a "buy" rating in a research note on Tuesday, April 2nd. Raymond James upped their price objective on Eagle Materials from $170.00 to $230.00 and gave the stock an "outperform" rating in a research note on Monday, January 29th. Citigroup upped their price objective on Eagle Materials from $244.00 to $311.00 and gave the stock a "buy" rating in a research note on Friday, April 5th. Finally, Loop Capital raised Eagle Materials from a "hold" rating to a "buy" rating and upped their price objective for the stock from $170.00 to $240.00 in a research note on Monday, January 8th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Eagle Materials presently has an average rating of "Moderate Buy" and an average price target of $263.50.

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; 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.