American International Group Inc. Has $9.60 Million Position in Eagle Materials Inc. (NYSE:EXP)

American International Group Inc. reduced its position in shares of Eagle Materials Inc. (NYSE:EXP) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,319 shares of the construction company’s stock after selling 2,805 shares during the period. American International Group Inc. owned about 0.14% of Eagle Materials worth $9,598,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Asset Management One Co. Ltd. acquired a new position in shares of Eagle Materials during the fourth quarter worth about $1,085,000. NewEdge Wealth LLC boosted its position in Eagle Materials by 13.4% during the fourth quarter. NewEdge Wealth LLC now owns 89,090 shares of the construction company’s stock valued at $18,071,000 after purchasing an additional 10,514 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Eagle Materials during the fourth quarter valued at approximately $1,988,000. Van ECK Associates Corp boosted its position in Eagle Materials by 39.7% during the fourth quarter. Van ECK Associates Corp now owns 10,537 shares of the construction company’s stock valued at $2,137,000 after purchasing an additional 2,993 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in Eagle Materials by 261.8% during the fourth quarter. TD Asset Management Inc now owns 871,970 shares of the construction company’s stock valued at $176,870,000 after purchasing an additional 630,964 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on EXP shares. Raymond James increased their price target on Eagle Materials from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Loop Capital reduced their price target on Eagle Materials from $310.00 to $305.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Stephens increased their price target on Eagle Materials from $250.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Citigroup reduced their price target on Eagle Materials from $311.00 to $297.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Finally, The Goldman Sachs Group raised their price objective on Eagle Materials from $238.00 to $273.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $279.67.

Eagle Materials Stock Performance

EXP opened at $228.55 on Wednesday. Eagle Materials Inc. has a 12-month low of $145.03 and a 12-month high of $276.61. The stock has a market cap of $7.74 billion, a price-to-earnings ratio of 16.78 and a beta of 1.33. The business has a 50 day moving average of $246.57 and a 200-day moving average of $235.11. The company has a quick ratio of 1.06, a current ratio of 2.62 and a debt-to-equity ratio of 0.83.

Eagle Materials (NYSE:EXP) last announced its earnings results on Tuesday, May 21st. The construction company reported $2.24 earnings per share for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.48). The firm had revenue of $476.70 million for the quarter, compared to the consensus estimate of $480.20 million. Eagle Materials had a return on equity of 37.31% and a net margin of 21.14%. Eagle Materials’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the business posted $2.79 EPS. On average, equities research analysts expect that Eagle Materials Inc. will post 16.15 earnings per share for the current year.

Eagle Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, June 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Eagle Materials’s dividend payout ratio (DPR) is currently 7.34%.

Eagle Materials Company 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.