Oppenheimer Asset Management Inc. Lowers Stock Holdings in Eagle Materials Inc $EXP

Oppenheimer Asset Management Inc. lowered its position in Eagle Materials Inc (NYSE:EXP) by 20.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,315 shares of the construction company’s stock after selling 3,356 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Eagle Materials were worth $3,103,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Versant Capital Management Inc grew its position in Eagle Materials by 130.9% in the third quarter. Versant Capital Management Inc now owns 127 shares of the construction company’s stock valued at $30,000 after acquiring an additional 72 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of Eagle Materials by 7,750.0% during the second quarter. Hantz Financial Services Inc. now owns 157 shares of the construction company’s stock worth $32,000 after purchasing an additional 155 shares in the last quarter. MAI Capital Management boosted its stake in shares of Eagle Materials by 3,060.0% in the second quarter. MAI Capital Management now owns 158 shares of the construction company’s stock valued at $32,000 after purchasing an additional 153 shares during the period. EverSource Wealth Advisors LLC boosted 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 purchasing an additional 87 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Eagle Materials by 62.5% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 208 shares of the construction company’s stock worth $42,000 after buying an additional 80 shares in the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EXP. Stifel Nicolaus set a $246.00 target price on Eagle Materials in a research note on Monday, October 27th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Eagle Materials in a research note on Monday, December 29th. Truist Financial restated a “hold” rating and issued a $210.00 price target (down previously from $280.00) on shares of Eagle Materials in a research note on Friday, December 19th. JPMorgan Chase & Co. cut their price target on shares of Eagle Materials from $245.00 to $230.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Finally, Wall Street Zen lowered shares of Eagle Materials from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Eagle Materials presently has an average rating of “Hold” and a consensus target price of $231.90.

Eagle Materials Stock Performance

Eagle Materials stock opened at $228.89 on Thursday. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.27 and a quick ratio of 2.68. Eagle Materials Inc has a 12 month low of $191.91 and a 12 month high of $258.86. The company has a fifty day moving average price of $221.10 and a two-hundred day moving average price of $224.38. The company has a market cap of $7.19 billion, a PE ratio of 17.33 and a beta of 1.38.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Thursday, January 29th. The construction company reported $3.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.32 by ($0.10). Eagle Materials had a return on equity of 28.96% and a net margin of 18.70%.The business had revenue of $555.96 million during the quarter, compared to the consensus estimate of $556.41 million. During the same quarter in the previous year, the business posted $3.59 earnings per share. The company’s quarterly revenue was down .4% compared to the same quarter last year. Research analysts expect that Eagle Materials Inc will post 14.39 earnings per share for the current year.

Eagle Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Monday, March 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.4%. Eagle Materials’s dividend payout ratio (DPR) is currently 7.57%.

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.