Legacy Wealth Asset Management LLC Sells 475 Shares of Eagle Materials Inc. (NYSE:EXP)

Legacy Wealth Asset Management LLC trimmed its position in shares of Eagle Materials Inc. (NYSE:EXP) by 17.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,318 shares of the construction company’s stock after selling 475 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Eagle Materials were worth $630,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. TD Asset Management Inc boosted its position in shares of Eagle Materials by 261.8% during the 4th quarter. TD Asset Management Inc now owns 871,970 shares of the construction company’s stock worth $176,870,000 after acquiring an additional 630,964 shares in the last quarter. Norges Bank bought a new position in shares of Eagle Materials in the 4th quarter valued at $88,925,000. Epoch Investment Partners Inc. raised its holdings in shares of Eagle Materials by 133.0% during the 4th quarter. Epoch Investment Partners Inc. now owns 662,628 shares of the construction company’s stock worth $134,407,000 after buying an additional 378,296 shares in the last quarter. Frontier Capital Management Co. LLC lifted its position in shares of Eagle Materials by 7.1% during the 4th quarter. Frontier Capital Management Co. LLC now owns 957,818 shares of the construction company’s stock worth $194,284,000 after buying an additional 63,636 shares during the last quarter. Finally, L1 Capital International Pty Ltd acquired a new position in shares of Eagle Materials during the fourth quarter worth $10,729,000. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on EXP shares. StockNews.com cut Eagle Materials from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Stephens lifted their target price on shares of Eagle Materials from $250.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. Raymond James boosted their target price on shares of Eagle Materials from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, May 23rd. Truist Financial increased their price target on Eagle Materials from $290.00 to $320.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Finally, Stifel Nicolaus dropped their price objective on Eagle Materials from $300.00 to $286.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eagle Materials has an average rating of “Moderate Buy” and an average price target of $279.67.

Eagle Materials Price Performance

Shares of EXP opened at $217.52 on Friday. The business’s fifty day moving average is $238.13 and its 200 day moving average is $236.97. Eagle Materials Inc. has a 12-month low of $145.03 and a 12-month high of $276.61. The company has a quick ratio of 1.06, a current ratio of 2.62 and a debt-to-equity ratio of 0.83. The stock has a market cap of $7.37 billion, a P/E ratio of 15.97 and a beta of 1.32.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings data on Tuesday, May 21st. The construction company reported $2.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.48). Eagle Materials had a net margin of 21.14% and a return on equity of 37.31%. The business had revenue of $476.70 million for the quarter, compared to analyst estimates of $480.20 million. During the same quarter in the prior year, the business earned $2.79 earnings per share. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. Sell-side analysts anticipate that Eagle Materials Inc. will post 15.99 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be issued a $0.25 dividend. The ex-dividend date is Monday, June 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. Eagle Materials’s dividend payout ratio is presently 7.34%.

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.