Eagle Materials Inc $EXP Shares Sold by TD Asset Management Inc

TD Asset Management Inc trimmed its holdings in Eagle Materials Inc (NYSE:EXP) by 30.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 407,383 shares of the construction company’s stock after selling 179,405 shares during the period. TD Asset Management Inc’s holdings in Eagle Materials were worth $94,937,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Eagle Materials in the 2nd quarter valued at $87,626,000. American Century Companies Inc. raised its holdings in Eagle Materials by 80.9% in the 2nd quarter. American Century Companies Inc. now owns 521,276 shares of the construction company’s stock valued at $105,356,000 after buying an additional 233,153 shares during the period. Frontier Capital Management Co. LLC lifted its position in Eagle Materials by 36.0% in the second quarter. Frontier Capital Management Co. LLC now owns 830,284 shares of the construction company’s stock valued at $167,809,000 after buying an additional 219,627 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Eagle Materials by 61.1% in the third quarter. Bank of New York Mellon Corp now owns 500,474 shares of the construction company’s stock valued at $116,630,000 after buying an additional 189,725 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Eagle Materials by 56.9% during the second quarter. Ameriprise Financial Inc. now owns 227,869 shares of the construction company’s stock worth $46,047,000 after buying an additional 82,679 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on EXP. Citigroup decreased their price objective on shares of Eagle Materials from $232.00 to $224.00 and set a “neutral” rating on the stock in a report on Tuesday, February 3rd. Stephens reissued an “equal weight” rating and issued a $245.00 target price on shares of Eagle Materials in a research report on Tuesday, January 20th. Royal Bank Of Canada set a $208.00 price target on Eagle Materials in a research report on Tuesday. Wells Fargo & Company dropped their price objective on Eagle Materials from $251.00 to $241.00 and set an “overweight” rating for the company in a research note on Thursday, January 29th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $226.00 price objective on shares of Eagle Materials in a report on Monday, November 3rd. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $228.36.

Eagle Materials Trading Down 4.2%

NYSE:EXP opened at $221.94 on Thursday. Eagle Materials Inc has a 12-month low of $191.91 and a 12-month high of $243.64. The firm has a market cap of $6.98 billion, a PE ratio of 16.80 and a beta of 1.38. The company has a current ratio of 4.27, a quick ratio of 2.68 and a debt-to-equity ratio of 1.17. The stock has a fifty day moving average price of $222.90 and a 200 day moving average price of $224.88.

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). The company had revenue of $555.96 million during the quarter, compared to analyst estimates of $556.41 million. Eagle Materials had a net margin of 18.70% and a return on equity of 28.96%. Eagle Materials’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the business earned $3.59 EPS. Sell-side analysts anticipate that Eagle Materials Inc will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Investors 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 annualized dividend and a yield of 0.5%. Eagle Materials’s dividend payout ratio (DPR) is 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.