JPMorgan Chase & Co. Has $435.61 Million Holdings in Eagle Materials Inc $EXP

JPMorgan Chase & Co. decreased its position in shares of Eagle Materials Inc (NYSE:EXP) by 7.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,869,244 shares of the construction company’s stock after selling 160,000 shares during the period. JPMorgan Chase & Co. owned about 5.83% of Eagle Materials worth $435,609,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Eagle Materials in the second quarter valued at about $87,626,000. American Century Companies Inc. boosted its stake in shares of Eagle Materials by 80.9% in the 2nd quarter. American Century Companies Inc. now owns 521,276 shares of the construction company’s stock valued at $105,356,000 after purchasing an additional 233,153 shares in the last quarter. Frontier Capital Management Co. LLC grew its holdings in shares of Eagle Materials by 36.0% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 830,284 shares of the construction company’s stock valued at $167,809,000 after purchasing an additional 219,627 shares during the last quarter. Bank of New York Mellon Corp increased its position in Eagle Materials by 61.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 500,474 shares of the construction company’s stock worth $116,630,000 after purchasing an additional 189,725 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Eagle Materials by 56.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 227,869 shares of the construction company’s stock valued at $46,047,000 after purchasing an additional 82,679 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on EXP shares. Jefferies Financial Group reiterated a “hold” rating and set a $226.00 price target on shares of Eagle Materials in a report on Monday, November 3rd. Zacks Research downgraded Eagle Materials from a “hold” rating to a “strong sell” rating in a research report on Monday, February 2nd. Stifel Nicolaus set a $246.00 price target on Eagle Materials in a research note on Monday, October 27th. Wall Street Zen cut Eagle Materials from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Finally, Citigroup dropped their price objective on shares of Eagle Materials from $232.00 to $224.00 and set a “neutral” rating for the company in a report on Tuesday, February 3rd. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $230.40.

Eagle Materials Stock Performance

NYSE:EXP opened at $231.26 on Thursday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.68 and a current ratio of 4.27. Eagle Materials Inc has a fifty-two week low of $191.91 and a fifty-two week high of $248.03. The company has a 50 day simple moving average of $222.27 and a two-hundred day simple moving average of $224.66. The company has a market capitalization of $7.27 billion, a PE ratio of 17.51 and a beta of 1.38.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Thursday, January 29th. The construction company reported $3.22 EPS for the quarter, missing analysts’ consensus estimates of $3.32 by ($0.10). Eagle Materials had a net margin of 18.70% and a return on equity of 28.96%. The firm had revenue of $555.96 million during the quarter, compared to the consensus estimate of $556.41 million. During the same period in the prior year, the company posted $3.59 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. Research analysts anticipate that Eagle Materials Inc will post 14.39 earnings per share for the current year.

Eagle Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Monday, March 16th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, March 16th. Eagle Materials’s dividend payout ratio (DPR) is presently 7.57%.

About Eagle Materials

Eagle Materials Inc (NYSE:EXP) is a Dallas, Texas–based manufacturer of building materials serving construction and heavy industry markets across the United States. The company’s primary products include portland and masonry cements, gypsum wallboard, lightweight aggregate, paperboard packaging, and roofing granules. These product lines support a wide range of end uses—from residential and commercial buildings to infrastructure projects and industrial applications.

Since its spin-off from a major homebuilding company in 2004, Eagle Materials has grown through targeted facility expansions and strategic acquisitions.