Vestcor Inc Sells 2,667 Shares of Eagle Materials Inc. (NYSE:EXP)

Vestcor Inc decreased its holdings in shares of Eagle Materials Inc. (NYSE:EXP) by 52.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,460 shares of the construction company’s stock after selling 2,667 shares during the period. Vestcor Inc’s holdings in Eagle Materials were worth $607,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Trust Co. NA increased its stake in shares of Eagle Materials by 53.0% during the fourth quarter. Private Trust Co. NA now owns 205 shares of the construction company’s stock valued at $51,000 after purchasing an additional 71 shares in the last quarter. R Squared Ltd bought a new position in shares of Eagle Materials during the fourth quarter valued at approximately $81,000. Smartleaf Asset Management LLC increased its stake in shares of Eagle Materials by 10.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 569 shares of the construction company’s stock valued at $140,000 after purchasing an additional 56 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Eagle Materials by 10.6% during the fourth quarter. GAMMA Investing LLC now owns 676 shares of the construction company’s stock valued at $167,000 after purchasing an additional 65 shares in the last quarter. Finally, Venturi Wealth Management LLC bought a new position in shares of Eagle Materials during the fourth quarter valued at approximately $170,000. Institutional investors own 96.07% of the company’s stock.

Eagle Materials Trading Up 3.0 %

Shares of Eagle Materials stock opened at $213.74 on Monday. The company’s fifty day simple moving average is $240.88 and its 200-day simple moving average is $267.36. The stock has a market capitalization of $7.12 billion, a PE ratio of 15.27 and a beta of 1.37. Eagle Materials Inc. has a 1-year low of $205.44 and a 1-year high of $321.93. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.76 and a quick ratio of 1.01.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings results on Wednesday, January 29th. The construction company reported $3.59 earnings per share for the quarter, missing the consensus estimate of $3.97 by ($0.38). Eagle Materials had a return on equity of 34.14% and a net margin of 20.91%. As a group, equities analysts anticipate that Eagle Materials Inc. will post 14.39 earnings per share for the current year.

Eagle Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 17th. Eagle Materials’s dividend payout ratio is presently 7.14%.

Insider Transactions at Eagle Materials

In other news, Director Michael R. Nicolais bought 310 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were bought at an average price of $257.36 per share, for a total transaction of $79,781.60. Following the purchase, the director now owns 3,655 shares in the company, valued at $940,650.80. This represents a 9.27 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Citigroup downgraded shares of Eagle Materials from a “buy” rating to a “neutral” rating and reduced their price target for the company from $334.00 to $280.00 in a research report on Monday, January 6th. Stifel Nicolaus assumed coverage on shares of Eagle Materials in a research report on Tuesday, March 4th. They set a “hold” rating and a $242.00 price target for the company. Loop Capital downgraded shares of Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price target for the company. in a research report on Monday, November 25th. DA Davidson reduced their price target on shares of Eagle Materials from $265.00 to $260.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of Eagle Materials from $290.00 to $310.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $292.40.

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.