Clearbridge Investments LLC Has $15.82 Million Position in Eagle Materials Inc. (NYSE:EXP)

Clearbridge Investments LLC trimmed its holdings in shares of Eagle Materials Inc. (NYSE:EXP) by 11.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,110 shares of the construction company’s stock after selling 8,031 shares during the period. Clearbridge Investments LLC’s holdings in Eagle Materials were worth $15,820,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its position in Eagle Materials by 60.3% during the third quarter. JPMorgan Chase & Co. now owns 1,735,133 shares of the construction company’s stock valued at $499,111,000 after purchasing an additional 652,836 shares during the last quarter. Norges Bank acquired a new stake in shares of Eagle Materials in the 4th quarter valued at approximately $93,672,000. Raymond James Financial Inc. bought a new position in shares of Eagle Materials in the fourth quarter valued at $38,115,000. World Investment Advisors LLC acquired a new position in Eagle Materials during the third quarter worth $34,846,000. Finally, Merewether Investment Management LP bought a new stake in Eagle Materials during the third quarter worth $22,552,000. Institutional investors own 96.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on EXP shares. Stephens reissued an “overweight” rating and issued a $310.00 price objective on shares of Eagle Materials in a research report 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 price target on the stock. Jefferies Financial Group lowered Eagle Materials from a “buy” rating to a “hold” rating and dropped their price objective for the company from $330.00 to $310.00 in a research note on Monday, December 16th. DA Davidson decreased their target price on Eagle Materials from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Finally, Citigroup cut Eagle Materials from a “buy” rating to a “neutral” rating and dropped their price target for the company from $334.00 to $280.00 in a research note on Monday, January 6th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Eagle Materials has an average rating of “Hold” and an average price target of $279.40.

Eagle Materials Stock Up 3.3 %

EXP opened at $234.98 on Thursday. The stock has a fifty day moving average of $234.66 and a 200-day moving average of $264.67. The company has a market capitalization of $7.82 billion, a P/E ratio of 16.78 and a beta of 1.37. Eagle Materials Inc. has a fifty-two week low of $205.44 and a fifty-two week high of $321.93. 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) last issued 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%. On average, equities analysts expect 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 will be paid on Monday, April 14th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. Eagle Materials’s dividend payout ratio (DPR) is presently 7.14%.

Insider Buying and Selling at Eagle Materials

In related news, Director Michael R. Nicolais purchased 310 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were bought at an average price of $257.36 per share, for a total transaction of $79,781.60. Following the completion of the transaction, the director now owns 3,655 shares of the company’s stock, valued at approximately $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 through this link. Insiders own 1.60% of the company’s stock.

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.