Russell Investments Group Ltd. Reduces Stock Holdings in Eagle Materials Inc. (NYSE:EXP)

Russell Investments Group Ltd. lessened its stake in Eagle Materials Inc. (NYSE:EXP - Free Report) by 31.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,383 shares of the construction company's stock after selling 10,931 shares during the quarter. Russell Investments Group Ltd. owned 0.07% of Eagle Materials worth $5,770,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EXP. JPMorgan Chase & Co. increased its holdings in Eagle Materials by 60.3% in the third quarter. JPMorgan Chase & Co. now owns 1,735,133 shares of the construction company's stock valued at $499,111,000 after buying an additional 652,836 shares in the last quarter. Norges Bank acquired a new stake in shares of Eagle Materials in the 4th quarter worth approximately $93,672,000. Raymond James Financial Inc. purchased a new position in Eagle Materials in the 4th quarter valued at approximately $38,115,000. World Investment Advisors LLC acquired a new position in Eagle Materials during the third quarter worth $34,846,000. Finally, Artemis Investment Management LLP boosted its position in Eagle Materials by 16.2% during the fourth quarter. Artemis Investment Management LLP now owns 270,711 shares of the construction company's stock worth $66,801,000 after purchasing an additional 37,689 shares in the last quarter. Institutional investors and hedge funds own 96.07% of the company's stock.

Insider Transactions at Eagle Materials

In other Eagle Materials news, Director Michael R. Nicolais bought 310 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average price of $257.36 per share, with a total value of $79,781.60. Following the transaction, the director now 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.60% of the company's stock.

Eagle Materials Trading Up 0.1 %

Eagle Materials stock traded up $0.31 during trading on Friday, hitting $216.78. The company's stock had a trading volume of 352,364 shares, compared to its average volume of 332,942. The stock's fifty day moving average is $223.87 and its 200 day moving average is $258.54. Eagle Materials Inc. has a 1-year low of $201.61 and a 1-year high of $321.93. The stock has a market capitalization of $7.22 billion, a price-to-earnings ratio of 15.48 and a beta of 1.25. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 2.76.

Eagle Materials (NYSE:EXP - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The construction company reported $3.59 earnings per share 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%. As a group, equities research analysts predict that Eagle Materials Inc. will post 14.39 EPS for the current year.

Eagle Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Stockholders of record on Monday, March 17th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.46%. Eagle Materials's dividend payout ratio is presently 7.14%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on EXP shares. Citigroup downgraded Eagle Materials from a "buy" rating to a "neutral" rating and cut their price target for the stock from $334.00 to $280.00 in a research note on Monday, January 6th. Stephens restated an "overweight" rating and set a $310.00 target price on shares of Eagle Materials in a research report on Thursday, January 30th. Loop Capital lowered their price target on shares of Eagle Materials from $280.00 to $245.00 and set a "hold" rating on the stock in a research report on Tuesday, April 1st. Stifel Nicolaus started coverage on shares of Eagle Materials in a research note on Tuesday, March 4th. They set a "hold" rating and a $242.00 price objective for the company. Finally, DA Davidson reduced their target price on Eagle Materials from $265.00 to $260.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Eagle Materials currently has an average rating of "Hold" and an average 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.