Handelsbanken Fonder AB Sells 259,400 Shares of Eagle Materials Inc $EXP

Handelsbanken Fonder AB lowered its position in shares of Eagle Materials Inc (NYSE:EXP) by 96.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,330 shares of the construction company’s stock after selling 259,400 shares during the period. Handelsbanken Fonder AB’s holdings in Eagle Materials were worth $1,722,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EXP. Aster Capital Management DIFC Ltd bought a new stake in Eagle Materials during the 3rd quarter worth $30,000. Measured Wealth Private Client Group LLC bought a new stake in Eagle Materials during the 3rd quarter worth $34,000. EverSource Wealth Advisors LLC grew its position in Eagle Materials by 102.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company’s stock worth $35,000 after acquiring an additional 87 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in Eagle Materials during the 3rd quarter worth $49,000. Finally, Huntington National Bank lifted its holdings in Eagle Materials by 228.8% during the 3rd quarter. Huntington National Bank now owns 240 shares of the construction company’s stock worth $56,000 after buying an additional 167 shares during the period. Institutional investors own 96.07% of the company’s stock.

Analysts Set New Price Targets

EXP has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on Eagle Materials from $240.00 to $246.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Wall Street Zen raised Eagle Materials from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Stephens cut their target price on Eagle Materials from $235.00 to $225.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 20th. Royal Bank Of Canada lifted their target price on Eagle Materials from $208.00 to $219.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $215.00 target price (down from $230.00) on shares of Eagle Materials in a report on Monday, February 16th. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $223.30.

Eagle Materials Stock Down 0.1%

Shares of EXP opened at $199.30 on Tuesday. The company has a market capitalization of $6.17 billion, a PE ratio of 15.19 and a beta of 1.38. The company has a current ratio of 3.66, a quick ratio of 2.68 and a debt-to-equity ratio of 1.18. The stock’s 50-day moving average price is $196.57 and its two-hundred day moving average price is $210.46. Eagle Materials Inc has a 12 month low of $171.99 and a 12 month high of $243.64.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings data on Tuesday, May 19th. The construction company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.32. The company had revenue of $479.11 million for the quarter, compared to the consensus estimate of $451.99 million. Eagle Materials had a return on equity of 28.27% and a net margin of 18.36%.The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.00 EPS. On average, analysts anticipate that Eagle Materials Inc will post 12.6 EPS for the current year.

Eagle Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Monday, June 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, June 15th. Eagle Materials’s payout ratio is currently 7.62%.

Eagle Materials 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.