Bank of New York Mellon Corp Cuts Holdings in Eagle Materials Inc $EXP

Bank of New York Mellon Corp trimmed its holdings in shares of Eagle Materials Inc (NYSE:EXP) by 26.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 365,702 shares of the construction company’s stock after selling 134,772 shares during the quarter. Bank of New York Mellon Corp’s holdings in Eagle Materials were worth $75,583,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Caisse de depot et placement du Quebec increased its holdings in Eagle Materials by 3.6% during the third quarter. Caisse de depot et placement du Quebec now owns 1,426 shares of the construction company’s stock valued at $332,000 after buying an additional 50 shares during the period. Signaturefd LLC boosted its stake in 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 acquiring an additional 53 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Eagle Materials by 20.3% in the third quarter. Smartleaf Asset Management LLC now owns 326 shares of the construction company’s stock valued at $76,000 after acquiring an additional 55 shares in the last quarter. GAMMA Investing LLC boosted its stake in 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 acquiring an additional 58 shares in the last quarter. Finally, M&T Bank Corp lifted its stake in shares of 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 during the period. 96.07% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Stock Up 5.0%

Shares of EXP opened at $217.22 on Wednesday. The firm has a market cap of $6.72 billion, a P/E ratio of 16.56 and a beta of 1.37. Eagle Materials Inc has a 12 month low of $171.99 and a 12 month high of $243.64. The stock’s 50 day moving average is $203.78 and its two-hundred day moving average is $211.36. The company has a current ratio of 3.66, a quick ratio of 2.09 and a debt-to-equity ratio of 1.18.

Eagle Materials (NYSE:EXP) last announced its earnings results on Tuesday, May 19th. The construction company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.32. Eagle Materials had a return on equity of 28.27% and a net margin of 18.36%.The firm had revenue of $479.11 million for the quarter, compared to analyst estimates of $451.99 million. During the same quarter last year, the firm posted $2.00 EPS. The business’s revenue was up 1.9% on a year-over-year basis. Analysts predict that Eagle Materials Inc will post 13.02 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, June 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Eagle Materials’s dividend payout ratio (DPR) is currently 7.62%.

Wall Street Analyst Weigh In

EXP has been the subject of several research reports. Citigroup lowered their price objective on shares of Eagle Materials from $224.00 to $217.00 and set a “neutral” rating for the company in a research note on Thursday, May 21st. Stephens lowered their price objective on shares of Eagle Materials from $235.00 to $225.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 20th. Jefferies Financial Group restated a “hold” rating and set a $200.00 target price on shares of Eagle Materials in a research report on Wednesday, May 20th. Royal Bank Of Canada boosted their target price on shares of Eagle Materials from $208.00 to $219.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 20th. Finally, Zacks Research upgraded shares of Eagle Materials from a “strong sell” rating to a “hold” rating in a research report on Monday, March 23rd. One research analyst has rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $224.30.

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.