Pacer Advisors Inc. Cuts Holdings in Eagle Materials Inc (NYSE:EXP)

Pacer Advisors Inc. lowered its stake in Eagle Materials Inc (NYSE:EXP) by 65.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,138 shares of the construction company’s stock after selling 5,960 shares during the period. Pacer Advisors Inc.’s holdings in Eagle Materials were worth $696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in EXP. Parallel Advisors LLC increased its holdings in shares of Eagle Materials by 26.8% in the 1st quarter. Parallel Advisors LLC now owns 246 shares of the construction company’s stock valued at $55,000 after acquiring an additional 52 shares during the last quarter. Huntington National Bank boosted its holdings in Eagle Materials by 154.8% in the fourth quarter. Huntington National Bank now owns 237 shares of the construction company’s stock valued at $58,000 after purchasing an additional 144 shares in the last quarter. Private Trust Co. NA increased its stake in Eagle Materials by 39.0% in the first quarter. Private Trust Co. NA now owns 285 shares of the construction company’s stock valued at $63,000 after purchasing an additional 80 shares during the last quarter. Assetmark Inc. raised its holdings in Eagle Materials by 486.6% during the first quarter. Assetmark Inc. now owns 393 shares of the construction company’s stock worth $87,000 after purchasing an additional 326 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of Eagle Materials by 39.1% during the 1st quarter. Signaturefd LLC now owns 466 shares of the construction company’s stock worth $103,000 after buying an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Wall Street Analyst Weigh In

EXP has been the topic of a number of recent analyst reports. Stephens set a $255.00 target price on shares of Eagle Materials and gave the company an “overweight” rating in a research report on Thursday, May 22nd. DA Davidson dropped their price objective on Eagle Materials from $260.00 to $245.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd. Truist Financial reduced their target price on Eagle Materials from $330.00 to $280.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Wall Street Zen downgraded Eagle Materials from a “hold” rating to a “sell” rating in a research note on Sunday, July 6th. Finally, Stifel Nicolaus set a $241.00 price target on Eagle Materials and gave the stock a “hold” rating in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Eagle Materials presently has a consensus rating of “Hold” and an average target price of $255.33.

Eagle Materials Trading Down 1.6%

Shares of EXP stock opened at $224.39 on Friday. The company has a market capitalization of $7.32 billion, a P/E ratio of 16.52 and a beta of 1.26. The company has a current ratio of 2.73, a quick ratio of 1.03 and a debt-to-equity ratio of 0.93. The business’s 50 day moving average is $209.71 and its two-hundred day moving average is $224.13. Eagle Materials Inc has a twelve month low of $191.91 and a twelve month high of $321.93.

Eagle Materials (NYSE:EXP) last issued its earnings results on Tuesday, July 29th. The construction company reported $3.76 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.03. Eagle Materials had a net margin of 19.81% and a return on equity of 31.21%. The business had revenue of $634.69 million for the quarter, compared to the consensus estimate of $611.52 million. Equities analysts forecast that Eagle Materials Inc will post 14.39 EPS for the current year.

Eagle Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Monday, June 16th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, June 16th. Eagle Materials’s dividend payout ratio is 7.27%.

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.