TD Asset Management Inc Cuts Position in Eagle Materials Inc $EXP

TD Asset Management Inc lowered its holdings in shares of Eagle Materials Inc (NYSE:EXP) by 30.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 407,383 shares of the construction company’s stock after selling 179,405 shares during the quarter. TD Asset Management Inc owned approximately 1.27% of Eagle Materials worth $94,937,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Frontier Capital Management Co. LLC raised its stake in shares of Eagle Materials by 36.0% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 830,284 shares of the construction company’s stock worth $167,809,000 after buying an additional 219,627 shares during the period. American Century Companies Inc. increased 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 worth $105,356,000 after acquiring an additional 233,153 shares in the last quarter. Principal Financial Group Inc. raised its position in Eagle Materials by 14.6% during the third quarter. Principal Financial Group Inc. now owns 511,372 shares of the construction company’s stock worth $119,179,000 after acquiring an additional 65,072 shares during the period. Bank of New York Mellon Corp lifted its holdings in Eagle Materials by 61.1% during 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 purchasing an additional 189,725 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in shares of Eagle Materials by 0.6% in the third quarter. Federated Hermes Inc. now owns 463,693 shares of the construction company’s stock valued at $108,059,000 after purchasing an additional 2,772 shares during the period. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on EXP. JPMorgan Chase & Co. restated an “underweight” rating and set a $215.00 price target (down from $230.00) on shares of Eagle Materials in a research report on Monday, February 16th. Royal Bank Of Canada set a $208.00 target price on Eagle Materials in a report on Tuesday. Stephens restated an “equal weight” rating and issued a $245.00 target price on shares of Eagle Materials in a research report on Tuesday, January 20th. Wall Street Zen cut Eagle Materials from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Finally, Wells Fargo & Company reduced 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. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $228.36.

Eagle Materials Stock Performance

Shares of Eagle Materials stock opened at $221.94 on Thursday. The business’s 50 day moving average price is $222.90 and its 200 day moving average price is $224.88. The company has a market cap of $6.98 billion, a price-to-earnings ratio of 16.80 and a beta of 1.38. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.68 and a current ratio of 4.27. Eagle Materials Inc has a one year low of $191.91 and a one year high of $243.64.

Eagle Materials (NYSE:EXP) last issued its 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 company had revenue of $555.96 million during the quarter, compared to analyst estimates of $556.41 million. During the same period last year, the business earned $3.59 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. On average, research analysts predict that Eagle Materials Inc will post 14.39 EPS for the current year.

Eagle Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Monday, March 16th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, March 16th. Eagle Materials’s dividend payout ratio (DPR) is presently 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.