Bank of New York Mellon Corp Sells 121,621 Shares of Eagle Materials Inc $EXP

Bank of New York Mellon Corp lowered its position in shares of Eagle Materials Inc (NYSE:EXP) by 33.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 244,081 shares of the construction company’s stock after selling 121,621 shares during the quarter. Bank of New York Mellon Corp’s holdings in Eagle Materials were worth $46,241,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Caisse de depot et placement du Quebec raised its stake in Eagle Materials by 3.6% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,426 shares of the construction company’s stock worth $332,000 after purchasing an additional 50 shares in the last quarter. Signaturefd LLC raised its position in shares of Eagle Materials by 15.8% in the fourth quarter. Signaturefd LLC now owns 389 shares of the construction company’s stock valued at $80,000 after buying an additional 53 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Eagle Materials by 5.9% in the fourth quarter. GAMMA Investing LLC now owns 1,048 shares of the construction company’s stock valued at $217,000 after buying an additional 58 shares during the period. M&T Bank Corp grew its position in Eagle Materials by 2.6% during the fourth quarter. M&T Bank Corp now owns 2,406 shares of the construction company’s stock worth $498,000 after buying an additional 61 shares in the last quarter. Finally, QRG Capital Management Inc. increased its stake in Eagle Materials by 7.0% during the 1st quarter. QRG Capital Management Inc. now owns 1,294 shares of the construction company’s stock worth $245,000 after acquiring an additional 85 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Eagle Materials Stock Performance

NYSE EXP opened at $213.34 on Friday. The company has a market capitalization of $6.59 billion, a price-to-earnings ratio of 16.26 and a beta of 1.37. The company has a quick ratio of 2.09, a current ratio of 3.66 and a debt-to-equity ratio of 1.18. Eagle Materials Inc has a twelve month low of $171.99 and a twelve month high of $245.53. The stock has a fifty day simple moving average of $213.86 and a 200 day simple moving average of $211.04.

Eagle Materials (NYSE:EXP) last released its quarterly earnings results on Tuesday, May 19th. The construction company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.32. The firm had revenue of $479.11 million for the quarter, compared to analyst estimates of $451.99 million. Eagle Materials had a return on equity of 28.27% and a net margin of 18.36%.The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.00 EPS. Sell-side analysts expect that Eagle Materials Inc will post 12.9 EPS for the current year.

Eagle Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Monday, June 15th were issued a $0.25 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.00 annualized dividend and a yield of 0.5%. Eagle Materials’s dividend payout ratio is presently 7.62%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on EXP shares. Wells Fargo & Company cut their target price on Eagle Materials from $246.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, July 8th. JPMorgan Chase & Co. raised Eagle Materials from an “underweight” rating to a “neutral” rating and set a $225.00 price target for the company in a research note on Tuesday, June 2nd. Zacks Research raised shares of Eagle Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 1st. Citigroup increased their price objective on shares of Eagle Materials from $217.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Finally, Wall Street Zen raised shares of Eagle Materials from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $226.00.

Eagle Materials Profile

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.