Commerce Bank Reduces Position in Eagle Materials Inc (NYSE:EXP)

Commerce Bank trimmed its stake in Eagle Materials Inc (NYSE:EXP) by 0.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,007 shares of the construction company’s stock after selling 112 shares during the period. Commerce Bank’s holdings in Eagle Materials were worth $2,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its position 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 worth $55,000 after purchasing an additional 52 shares during the period. Huntington National Bank raised its stake in shares of Eagle Materials by 154.8% during the 4th quarter. Huntington National Bank now owns 237 shares of the construction company’s stock worth $58,000 after acquiring an additional 144 shares in the last quarter. Private Trust Co. NA raised its stake in shares of Eagle Materials by 39.0% during the 1st quarter. Private Trust Co. NA now owns 285 shares of the construction company’s stock worth $63,000 after acquiring an additional 80 shares in the last quarter. Assetmark Inc. raised its stake in shares of Eagle Materials by 486.6% during the 1st quarter. Assetmark Inc. now owns 393 shares of the construction company’s stock worth $87,000 after acquiring an additional 326 shares in the last quarter. Finally, Signaturefd LLC raised its stake 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 acquiring an additional 131 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Trading Down 1.8%

NYSE:EXP opened at $220.33 on Monday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.73 and a quick ratio of 1.26. Eagle Materials Inc has a fifty-two week low of $191.91 and a fifty-two week high of $321.93. The stock’s 50-day moving average is $209.82 and its two-hundred day moving average is $223.57. The stock has a market cap of $7.15 billion, a PE ratio of 16.22 and a beta of 1.24.

Eagle Materials (NYSE:EXP) last posted its earnings results on Tuesday, July 29th. The construction company reported $3.76 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.03. Eagle Materials had a return on equity of 31.21% and a net margin of 19.81%. The firm had revenue of $634.69 million during the quarter, compared to analyst estimates of $611.52 million. As a group, equities research analysts forecast that Eagle Materials Inc will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Monday, June 16th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Eagle Materials’s payout ratio is currently 7.36%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Stifel Nicolaus set a $241.00 price target on shares of Eagle Materials and gave the company a “hold” rating in a research note on Wednesday, May 21st. Loop Capital increased their price objective on shares of Eagle Materials from $230.00 to $245.00 and gave the company a “hold” rating in a report on Wednesday, July 30th. Truist Financial reduced their target price on shares of Eagle Materials from $330.00 to $280.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. 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. Finally, Wall Street Zen upgraded shares of Eagle Materials from a “sell” rating to a “hold” rating in a research report on Saturday. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $255.33.

Eagle Materials Profile

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.