Park Avenue Securities LLC Trims Stock Holdings in Eagle Materials Inc. (NYSE:EXP)

Park Avenue Securities LLC decreased its stake in Eagle Materials Inc. (NYSE:EXP) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,435 shares of the construction company’s stock after selling 87 shares during the quarter. Park Avenue Securities LLC’s holdings in Eagle Materials were worth $1,205,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of EXP. Meritage Portfolio Management grew its position in shares of Eagle Materials by 2.1% during the fourth quarter. Meritage Portfolio Management now owns 2,259 shares of the construction company’s stock worth $458,000 after purchasing an additional 47 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Eagle Materials by 16.5% during the first quarter. GAMMA Investing LLC now owns 382 shares of the construction company’s stock worth $104,000 after purchasing an additional 54 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its position in shares of Eagle Materials by 2.7% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 3,285 shares of the construction company’s stock worth $666,000 after purchasing an additional 85 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of Eagle Materials during the first quarter worth about $27,000. Finally, Tompkins Financial Corp purchased a new stake in shares of Eagle Materials during the first quarter worth about $27,000. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Eagle Materials Price Performance

NYSE:EXP opened at $217.40 on Tuesday. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of 15.96 and a beta of 1.33. Eagle Materials Inc. has a 1 year low of $145.03 and a 1 year high of $276.61. The business has a 50 day simple moving average of $243.24 and a 200-day simple moving average of $236.39. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.62 and a quick ratio of 1.06.

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

Eagle Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, June 17th. Eagle Materials’s dividend payout ratio is currently 7.34%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. The Goldman Sachs Group increased their target price on Eagle Materials from $238.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Loop Capital cut their price target on Eagle Materials from $310.00 to $305.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Stephens raised their price target on Eagle Materials from $250.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. Raymond James raised their price target on Eagle Materials from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, May 23rd. Finally, StockNews.com cut Eagle Materials from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $279.67.

About Eagle Materials

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.