Lazard Asset Management LLC Trims Stake in Eagle Materials Inc $EXP

Lazard Asset Management LLC trimmed its holdings in Eagle Materials Inc (NYSE:EXP) by 9.5% in the 1st quarter, Holdings Channel reports. The fund owned 24,891 shares of the construction company’s stock after selling 2,613 shares during the quarter. Lazard Asset Management LLC’s holdings in Eagle Materials were worth $4,716,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Clearstead Advisors LLC raised its holdings in Eagle Materials by 266.7% in the fourth quarter. Clearstead Advisors LLC now owns 132 shares of the construction company’s stock worth $27,000 after buying an additional 96 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Eagle Materials in the 4th quarter worth about $29,000. IFP Advisors Inc raised its position in Eagle Materials by 389.3% in the 4th quarter. IFP Advisors Inc now owns 137 shares of the construction company’s stock worth $28,000 after buying an additional 109 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of Eagle Materials during the third quarter valued at approximately $34,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Eagle Materials by 102.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company’s stock valued at $35,000 after buying an additional 87 shares during the period. Institutional investors own 96.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on EXP shares. Wells Fargo & Company dropped their target price on Eagle Materials from $240.00 to $231.00 and set an “overweight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. raised shares of Eagle Materials from an “underweight” rating to a “neutral” rating and set a $225.00 price target for the company in a research report on Tuesday, June 2nd. Wall Street Zen raised shares of Eagle Materials from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Jefferies Financial Group reiterated a “hold” rating and issued a $200.00 price target on shares of Eagle Materials in a research report on Wednesday, May 20th. Finally, Citigroup lifted their price target on shares of Eagle Materials from $217.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $223.44.

Eagle Materials Stock Down 0.0%

NYSE EXP opened at $205.45 on Friday. The stock’s 50-day moving average price is $215.16 and its 200-day moving average price is $210.77. The company has a quick ratio of 2.09, a current ratio of 3.23 and a debt-to-equity ratio of 1.17. Eagle Materials Inc has a 52 week low of $171.99 and a 52 week high of $245.53. The company has a market capitalization of $6.35 billion, a P/E ratio of 16.24 and a beta of 1.37.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.29 earnings per share for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.08). The company had revenue of $650.97 million for the quarter, compared to analysts’ expectations of $620.35 million. Eagle Materials had a net margin of 17.32% and a return on equity of 26.87%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.76 earnings per share. On average, equities research analysts predict that Eagle Materials Inc will post 12.9 earnings per share for the current year.

Eagle Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Monday, June 15th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, June 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Eagle Materials’s dividend payout ratio (DPR) is presently 7.91%.

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.