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

Sterling Capital Management LLC reduced its holdings in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) by 80.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 892 shares of the construction company's stock after selling 3,729 shares during the period. Sterling Capital Management LLC's holdings in Eagle Materials were worth $220,000 as of its most recent SEC filing.

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

Eagle Materials Stock Down 0.9 %

NYSE:EXP traded down $2.09 on Friday, hitting $219.20. The stock had a trading volume of 37,998 shares, compared to its average volume of 331,231. Eagle Materials Inc. has a 1 year low of $201.61 and a 1 year high of $321.93. The firm's fifty day simple moving average is $221.07 and its two-hundred day simple moving average is $256.66. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 2.76. The stock has a market cap of $7.30 billion, a P/E ratio of 15.67 and a beta of 1.25.

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

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 14th. Investors of record on Monday, March 17th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, March 17th. Eagle Materials's dividend payout ratio (DPR) is currently 7.14%.

Insider Activity at Eagle Materials

In related news, Director Michael R. Nicolais bought 310 shares of Eagle Materials stock in a transaction dated Monday, February 10th. The stock was purchased at an average cost of $257.36 per share, with a total value of $79,781.60. Following the transaction, the director now directly owns 3,655 shares of the company's stock, valued at approximately $940,650.80. The trade was a 9.27 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on EXP shares. JPMorgan Chase & Co. dropped their price objective on shares of Eagle Materials from $310.00 to $250.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. DA Davidson cut their price target on Eagle Materials from $265.00 to $260.00 and set a "neutral" rating on the stock in a report on Thursday, January 30th. Stephens reissued an "overweight" rating and issued a $310.00 price objective on shares of Eagle Materials in a research note on Thursday, January 30th. Stifel Nicolaus started coverage on Eagle Materials in a research report on Tuesday, March 4th. They set a "hold" rating and a $242.00 target price on the stock. Finally, Loop Capital reduced their price target on shares of Eagle Materials from $280.00 to $245.00 and set a "hold" rating for the company in a research report on Tuesday, April 1st. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $274.40.

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.