Bank of New York Mellon Corp Sells 121,621 Shares of Eagle Materials Inc $EXP

Bank of New York Mellon Corp decreased its stake in Eagle Materials Inc (NYSE:EXP) by 33.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244,081 shares of the construction company’s stock after selling 121,621 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.78% of Eagle Materials worth $46,241,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Clearstead Advisors LLC boosted its holdings in shares of Eagle Materials by 266.7% in the 4th quarter. Clearstead Advisors LLC now owns 132 shares of the construction company’s stock worth $27,000 after acquiring an additional 96 shares in the last quarter. IFP Advisors Inc boosted its stake in Eagle Materials by 389.3% in the fourth quarter. IFP Advisors Inc now owns 137 shares of the construction company’s stock worth $28,000 after purchasing an additional 109 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Eagle Materials during the fourth quarter worth $29,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Eagle Materials during the third quarter worth $34,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Eagle Materials by 102.4% in the second quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company’s stock valued at $35,000 after buying an additional 87 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Zacks Research upgraded shares of Eagle Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 1st. 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 report on Wednesday, May 20th. Wells Fargo & Company reduced their target price on shares of Eagle Materials from $246.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 8th. Jefferies Financial Group reissued a “hold” rating and set a $200.00 price target on shares of Eagle Materials in a research note on Wednesday, May 20th. Finally, Wall Street Zen raised shares of Eagle Materials from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Eagle Materials has a consensus rating of “Hold” and a consensus price target of $226.00.

Eagle Materials Stock Up 3.0%

Eagle Materials stock opened at $213.34 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.66 and a quick ratio of 2.09. The company’s 50-day moving average is $213.86 and its 200-day moving average is $211.04. The firm has a market capitalization of $6.59 billion, a PE ratio of 16.26 and a beta of 1.37. Eagle Materials Inc has a fifty-two week low of $171.99 and a fifty-two week high of $245.53.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Tuesday, May 19th. The construction company reported $1.91 EPS for the quarter, topping 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 business had revenue of $479.11 million during the quarter, compared to analysts’ expectations of $451.99 million. During the same quarter last year, the company posted $2.00 earnings per share. Eagle Materials’s quarterly revenue was up 1.9% on a year-over-year basis. Sell-side analysts anticipate that Eagle Materials Inc will post 12.9 earnings per share for the current year.

Eagle Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, June 15th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Eagle Materials’s dividend payout ratio is presently 7.62%.

Eagle Materials Company Profile

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.