Sterling Capital Management LLC Sells 3,729 Shares of Eagle Materials Inc. (NYSE:EXP)

Sterling Capital Management LLC lessened its holdings in Eagle Materials Inc. (NYSE:EXP) by 80.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 892 shares of the construction company’s stock after selling 3,729 shares during the period. Sterling Capital Management LLC’s holdings in Eagle Materials were worth $220,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its position in shares of Eagle Materials by 60.3% in 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 period. Norges Bank acquired a new position in Eagle Materials in the 4th quarter valued at about $93,672,000. Raymond James Financial Inc. bought a new position in Eagle Materials in the 4th quarter valued at about $38,115,000. World Investment Advisors LLC acquired a new stake in Eagle Materials during the third quarter worth approximately $34,846,000. Finally, Renaissance Group LLC boosted its holdings in shares of Eagle Materials by 487.7% during the fourth quarter. Renaissance Group LLC now owns 89,732 shares of the construction company’s stock worth $22,136,000 after acquiring an additional 74,463 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Eagle Materials Trading Up 0.1 %

Shares of EXP stock opened at $216.78 on Monday. 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 Inc. has a fifty-two week low of $201.61 and a fifty-two week high of $321.93. The company has a market cap of $7.22 billion, a PE ratio of 15.48 and a beta of 1.25. The stock’s fifty day moving average price is $223.87 and its two-hundred day moving average price is $258.19.

Eagle Materials (NYSE:EXP) last released its earnings results on Wednesday, January 29th. The construction company reported $3.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.97 by ($0.38). Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. Equities analysts predict that Eagle Materials Inc. will post 14.39 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 14th. Shareholders of record on Monday, March 17th were given a $0.25 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.46%. Eagle Materials’s dividend payout ratio is currently 7.14%.

Insiders Place Their Bets

In other news, Director Michael R. Nicolais purchased 310 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were purchased at an average cost of $257.36 per share, with a total value of $79,781.60. Following the completion of the purchase, the director now owns 3,655 shares of the company’s stock, valued at $940,650.80. This trade represents a 9.27 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Stephens reissued an “overweight” rating and set a $310.00 price target on shares of Eagle Materials in a report on Thursday, January 30th. Citigroup cut shares of Eagle Materials from a “buy” rating to a “neutral” rating and reduced their target price for the company from $334.00 to $280.00 in a research report on Monday, January 6th. Stifel Nicolaus started coverage on shares of Eagle Materials in a research note on Tuesday, March 4th. They issued a “hold” rating and a $242.00 price objective for the company. DA Davidson cut their price objective on shares of Eagle Materials from $265.00 to $260.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Eagle Materials from $310.00 to $250.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eagle Materials presently has an average rating of “Hold” and a consensus price target of $279.40.

About Eagle Materials

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.