154,461 Shares in Eagle Materials Inc. (NYSE:EXP) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in Eagle Materials Inc. (NYSE:EXP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 154,461 shares of the construction company's stock, valued at approximately $38,115,000. Raymond James Financial Inc. owned 0.46% of Eagle Materials at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Private Trust Co. NA lifted its stake in shares of Eagle Materials by 53.0% in the fourth quarter. Private Trust Co. NA now owns 205 shares of the construction company's stock valued at $51,000 after buying an additional 71 shares during the period. Huntington National Bank raised its holdings in Eagle Materials by 154.8% in the 4th quarter. Huntington National Bank now owns 237 shares of the construction company's stock valued at $58,000 after acquiring an additional 144 shares in the last quarter. R Squared Ltd bought a new stake in shares of Eagle Materials in the 4th quarter worth approximately $81,000. Smartleaf Asset Management LLC grew its holdings in shares of Eagle Materials by 10.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 569 shares of the construction company's stock worth $140,000 after purchasing an additional 56 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Eagle Materials by 10.6% during the fourth quarter. GAMMA Investing LLC now owns 676 shares of the construction company's stock valued at $167,000 after purchasing an additional 65 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Michael R. Nicolais acquired 310 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average cost of $257.36 per share, for a total transaction of $79,781.60. Following the completion of the transaction, the director now directly owns 3,655 shares in the company, valued at $940,650.80. This trade represents a 9.27 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by insiders.

Eagle Materials Price Performance

NYSE EXP traded down $3.80 during trading hours on Monday, reaching $212.58. 12,662 shares of the company's stock were exchanged, compared to its average volume of 330,909. The firm has a fifty day moving average of $223.87 and a 200-day moving average of $258.19. Eagle Materials Inc. has a one year low of $201.61 and a one year high of $321.93. The stock has a market cap of $7.08 billion, a PE ratio of 15.21 and a beta of 1.25. The company has a current ratio of 2.76, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66.

Eagle Materials (NYSE:EXP - Get Free Report) last announced its earnings results on Wednesday, January 29th. The construction company reported $3.59 EPS for the quarter, missing the consensus estimate of $3.97 by ($0.38). Eagle Materials had a return on equity of 34.14% and a net margin of 20.91%. On average, equities research analysts predict that Eagle Materials Inc. will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 14th. Stockholders of record on Monday, March 17th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. Eagle Materials's payout ratio is 7.14%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EXP. Stifel Nicolaus began coverage on Eagle Materials in a research report on Tuesday, March 4th. They issued a "hold" rating and a $242.00 target price for the company. Citigroup downgraded shares of Eagle Materials from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $334.00 to $280.00 in a report on Monday, January 6th. Stephens reissued an "overweight" rating and issued a $310.00 target price on shares of Eagle Materials in a research note on Thursday, January 30th. JPMorgan Chase & Co. cut their price target on shares of Eagle Materials from $310.00 to $250.00 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Finally, Loop Capital lowered their price objective on Eagle Materials from $280.00 to $245.00 and set a "hold" rating on the stock in a research note on Tuesday, April 1st. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $279.40.

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.