Los Angeles Capital Management LLC Lowers Position in Eagle Materials Inc. (NYSE:EXP)

Los Angeles Capital Management LLC decreased its stake in Eagle Materials Inc. (NYSE:EXP) by 12.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 47,000 shares of the construction company’s stock after selling 6,982 shares during the period. Los Angeles Capital Management LLC’s holdings in Eagle Materials were worth $11,598,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. FMR LLC grew its stake in shares of Eagle Materials by 30.1% during the 3rd quarter. FMR LLC now owns 3,801,257 shares of the construction company’s stock valued at $1,093,432,000 after acquiring an additional 878,400 shares during the period. JPMorgan Chase & Co. raised its stake in Eagle Materials by 60.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,735,133 shares of the construction company’s stock worth $499,111,000 after acquiring an additional 652,836 shares during the period. Baupost Group LLC MA lifted its holdings in Eagle Materials by 46.2% during the third quarter. Baupost Group LLC MA now owns 500,273 shares of the construction company’s stock valued at $143,904,000 after purchasing an additional 158,171 shares in the last quarter. World Investment Advisors LLC bought a new position in shares of Eagle Materials in the third quarter worth approximately $34,846,000. Finally, Merewether Investment Management LP purchased a new stake in shares of Eagle Materials in the third quarter worth $22,552,000. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on EXP shares. The Goldman Sachs Group lifted their target price on shares of Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Stephens restated an “overweight” rating and issued a $310.00 price objective on shares of Eagle Materials in a research report on Thursday, January 30th. DA Davidson dropped their price objective on Eagle Materials from $265.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Truist Financial lifted their target price on Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Citigroup downgraded Eagle Materials from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $334.00 to $280.00 in a research note on Monday, January 6th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $296.80.

Insider Activity

In related news, Director Michael R. Nicolais bought 310 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was purchased at an average price of $257.36 per share, for a total transaction of $79,781.60. Following the acquisition, 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 purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Eagle Materials Stock Performance

NYSE EXP opened at $228.59 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.76 and a quick ratio of 1.01. Eagle Materials Inc. has a 1-year low of $211.44 and a 1-year high of $321.93. The business has a 50 day simple moving average of $248.53 and a two-hundred day simple moving average of $270.22. The stock has a market capitalization of $7.61 billion, a PE ratio of 16.33 and a beta of 1.37.

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

Eagle Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 17th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Eagle Materials’s dividend payout ratio (DPR) is presently 7.14%.

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.