KBC Group NV Sells 15,018 Shares of Eagle Materials Inc (NYSE:EXP)

KBC Group NV lessened its holdings in shares of Eagle Materials Inc (NYSE:EXP) by 90.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,598 shares of the construction company’s stock after selling 15,018 shares during the quarter. KBC Group NV’s holdings in Eagle Materials were worth $355,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. RBA Wealth Management LLC raised its stake in Eagle Materials by 1.7% in the first quarter. RBA Wealth Management LLC now owns 22,271 shares of the construction company’s stock worth $4,943,000 after buying an additional 380 shares in the last quarter. Balefire LLC purchased a new position in shares of Eagle Materials during the 1st quarter worth approximately $368,000. Hi Line Capital Management LLC bought a new position in shares of Eagle Materials in the 1st quarter worth approximately $4,770,000. Sheets Smith Wealth Management lifted its stake in shares of Eagle Materials by 4.4% in the 1st quarter. Sheets Smith Wealth Management now owns 2,696 shares of the construction company’s stock valued at $598,000 after purchasing an additional 113 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Eagle Materials by 12.4% during the first quarter. Oppenheimer & Co. Inc. now owns 5,402 shares of the construction company’s stock valued at $1,199,000 after purchasing an additional 595 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Eagle Materials Price Performance

Shares of NYSE EXP opened at $214.28 on Friday. The firm has a market cap of $6.99 billion, a P/E ratio of 15.57 and a beta of 1.26. Eagle Materials Inc has a twelve month low of $191.91 and a twelve month high of $321.93. The company has a quick ratio of 1.03, a current ratio of 2.73 and a debt-to-equity ratio of 0.84. The company has a 50 day moving average of $213.40 and a 200 day moving average of $227.34.

Eagle Materials (NYSE:EXP) last released its quarterly earnings data on Tuesday, May 20th. The construction company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.26). Eagle Materials had a net margin of 20.50% and a return on equity of 32.71%. The company had revenue of $470.18 million for the quarter, compared to analysts’ expectations of $483.14 million. During the same period in the previous year, the firm earned $2.24 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, research analysts expect that Eagle Materials Inc will post 14.39 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. Eagle Materials’s dividend payout ratio is currently 7.27%.

Analysts Set New Price Targets

Several equities analysts have commented on EXP shares. Citigroup lowered their price objective on Eagle Materials from $279.00 to $230.00 and set a “neutral” rating for the company in a research report on Wednesday, May 28th. Truist Financial decreased their price target on shares of Eagle Materials from $330.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. DA Davidson dropped their price objective on shares of Eagle Materials from $260.00 to $245.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. The Goldman Sachs Group set a $242.00 target price on shares of Eagle Materials and gave the company a “buy” rating in a research note on Wednesday, May 21st. Finally, JPMorgan Chase & Co. dropped their price target on Eagle Materials from $310.00 to $250.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $254.44.

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.