BNP Paribas Financial Markets Trims Position in Eagle Materials Inc. (NYSE:EXP)

BNP Paribas Financial Markets cut its position in Eagle Materials Inc. (NYSE:EXP) by 54.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,196 shares of the construction company’s stock after selling 18,121 shares during the period. BNP Paribas Financial Markets’ holdings in Eagle Materials were worth $4,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Asset Management One Co. Ltd. purchased a new position in Eagle Materials during the fourth quarter valued at $1,085,000. NewEdge Wealth LLC grew its stake in Eagle Materials by 13.4% during the fourth quarter. NewEdge Wealth LLC now owns 89,090 shares of the construction company’s stock valued at $18,071,000 after acquiring an additional 10,514 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in Eagle Materials during the fourth quarter valued at $1,988,000. Van ECK Associates Corp grew its stake in Eagle Materials by 39.7% during the fourth quarter. Van ECK Associates Corp now owns 10,537 shares of the construction company’s stock valued at $2,137,000 after acquiring an additional 2,993 shares in the last quarter. Finally, TD Asset Management Inc grew its stake in Eagle Materials by 261.8% during the fourth quarter. TD Asset Management Inc now owns 871,970 shares of the construction company’s stock valued at $176,870,000 after acquiring an additional 630,964 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EXP has been the subject of several research analyst reports. Stephens raised their target price on shares of Eagle Materials from $250.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Loop Capital lowered their price objective on shares of Eagle Materials from $310.00 to $305.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. The Goldman Sachs Group increased their price objective on shares of Eagle Materials from $238.00 to $273.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Raymond James increased their price objective on shares of Eagle Materials from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Finally, Citigroup lowered their price objective on shares of Eagle Materials from $297.00 to $252.00 and set a “buy” rating for the company in a research report on Thursday. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $274.67.

Eagle Materials Price Performance

Eagle Materials stock opened at $229.46 on Friday. The firm has a 50-day moving average price of $233.71 and a 200-day moving average price of $237.65. The firm has a market capitalization of $7.77 billion, a PE ratio of 16.85 and a beta of 1.32. The company has a current ratio of 2.62, a quick ratio of 1.06 and a debt-to-equity ratio of 0.83. Eagle Materials Inc. has a 12-month low of $145.03 and a 12-month high of $276.61.

Eagle Materials (NYSE:EXP) last released its earnings results on Tuesday, May 21st. The construction company reported $2.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.48). The firm had revenue of $476.70 million during the quarter, compared to the consensus estimate of $480.20 million. Eagle Materials had a return on equity of 37.31% and a net margin of 21.14%. Eagle Materials’s revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.79 EPS. As a group, equities research analysts forecast that Eagle Materials Inc. will post 15.99 EPS for the current year.

Eagle Materials Announces Dividend

The company 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 of this dividend is Monday, June 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Eagle Materials’s dividend payout ratio (DPR) is presently 7.34%.

Eagle Materials Company 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.