Linscomb Wealth Inc. Decreases Stake in Eagle Materials Inc $EXP

Linscomb Wealth Inc. lowered its position in Eagle Materials Inc (NYSE:EXP) by 44.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,923 shares of the construction company’s stock after selling 3,945 shares during the period. Linscomb Wealth Inc.’s holdings in Eagle Materials were worth $1,017,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EXP. Baupost Group LLC MA lifted its holdings in Eagle Materials by 39.0% in the 3rd quarter. Baupost Group LLC MA now owns 939,660 shares of the construction company’s stock valued at $218,978,000 after purchasing an additional 263,403 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Eagle Materials in the 3rd quarter valued at $51,812,000. Bank of New York Mellon Corp raised its holdings in shares of Eagle Materials by 61.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 500,474 shares of the construction company’s stock worth $116,630,000 after acquiring an additional 189,725 shares during the period. Cartenna Capital LP purchased a new position in shares of Eagle Materials during the 3rd quarter worth $29,480,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of Eagle Materials by 56.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 227,869 shares of the construction company’s stock worth $46,047,000 after acquiring an additional 82,679 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Eagle Materials Stock Up 1.1%

Shares of NYSE:EXP opened at $221.36 on Friday. The business has a 50-day moving average price of $198.87 and a 200 day moving average price of $210.68. The company has a current ratio of 3.66, a quick ratio of 2.09 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $6.85 billion, a price-to-earnings ratio of 16.87 and a beta of 1.38. Eagle Materials Inc has a 12-month low of $171.99 and a 12-month high of $243.64.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings data on Tuesday, May 19th. The construction company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.32. The firm had revenue of $479.11 million during 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 company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the company earned $2.00 EPS. Sell-side analysts expect that Eagle Materials Inc will post 13.02 EPS for the current year.

Eagle Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, June 15th will be given a dividend of $0.25 per share. 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 dividend payout ratio (DPR) is presently 7.62%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on EXP shares. Royal Bank Of Canada lifted their price target on Eagle Materials from $208.00 to $219.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 20th. DA Davidson reduced their price target on Eagle Materials from $225.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, February 2nd. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $215.00 price target (down from $230.00) on shares of Eagle Materials in a report on Monday, February 16th. Stephens reduced their price target 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. Finally, Wells Fargo & Company lifted their price target on Eagle Materials from $240.00 to $246.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. One research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Eagle Materials presently has a consensus rating of “Hold” and a consensus target price of $223.30.

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.