T. Rowe Price Investment Management Inc. Invests $8.67 Million in Eagle Materials Inc. (NYSE:EXP)

T. Rowe Price Investment Management Inc. bought a new stake in shares of Eagle Materials Inc. (NYSE:EXP) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 35,146 shares of the construction company’s stock, valued at approximately $8,673,000. T. Rowe Price Investment Management Inc. owned about 0.11% of Eagle Materials at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Barclays PLC lifted its holdings in shares of Eagle Materials by 78.1% during the 3rd quarter. Barclays PLC now owns 37,948 shares of the construction company’s stock worth $10,915,000 after acquiring an additional 16,645 shares during the period. World Investment Advisors LLC bought a new position in Eagle Materials in the 3rd quarter valued at $34,846,000. Tidal Investments LLC increased its position in Eagle Materials by 12.7% in the third quarter. Tidal Investments LLC now owns 3,123 shares of the construction company’s stock worth $898,000 after purchasing an additional 353 shares during the period. Franklin Resources Inc. grew its position in shares of Eagle Materials by 6.9% during the 3rd quarter. Franklin Resources Inc. now owns 162,863 shares of the construction company’s stock worth $48,435,000 after buying an additional 10,459 shares during the period. Finally, Lord Abbett & CO. LLC raised its position in shares of Eagle Materials by 16.0% during the 3rd quarter. Lord Abbett & CO. LLC now owns 198,994 shares of the construction company’s stock valued at $57,241,000 after acquiring an additional 27,397 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.

Eagle Materials Price Performance

Shares of EXP opened at $218.71 on Monday. The company has a quick ratio of 1.01, a current ratio of 2.76 and a debt-to-equity ratio of 0.66. Eagle Materials Inc. has a twelve month low of $201.61 and a twelve month high of $321.93. The stock has a market capitalization of $7.28 billion, a P/E ratio of 15.62 and a beta of 1.25. The company has a 50 day moving average of $220.45 and a 200-day moving average of $255.69.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings results on Wednesday, January 29th. The construction company reported $3.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.97 by ($0.38). Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. As a group, equities research analysts forecast that Eagle Materials Inc. will post 14.39 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 14th. Investors of record on Monday, March 17th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 0.46%. Eagle Materials’s payout ratio is presently 7.14%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on EXP shares. JPMorgan Chase & Co. cut their price target on shares of Eagle Materials from $310.00 to $250.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Stifel Nicolaus initiated coverage on shares of Eagle Materials in a report on Tuesday, March 4th. They issued a “hold” rating and a $242.00 price target for the company. Stephens reiterated an “overweight” rating and set a $310.00 target price on shares of Eagle Materials in a report on Thursday, January 30th. Loop Capital decreased their target price on Eagle Materials from $280.00 to $245.00 and set a “hold” rating for the company in a research note on Tuesday, April 1st. Finally, DA Davidson cut their price objective on Eagle Materials from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $274.40.

Insider Buying and Selling at Eagle Materials

In other news, Director Michael R. Nicolais purchased 310 shares of the business’s stock in a transaction on Monday, February 10th. The stock was purchased at an average price of $257.36 per share, for a total transaction of $79,781.60. Following the completion of the purchase, the director now directly owns 3,655 shares in the company, valued at $940,650.80. The trade was a 9.27 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

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.