Hodges Capital Management Inc. Sells 125,737 Shares of Eagle Materials Inc. (NYSE:EXP)

Hodges Capital Management Inc. reduced its stake in shares of Eagle Materials Inc. (NYSE:EXP) by 43.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 163,221 shares of the construction company’s stock after selling 125,737 shares during the period. Eagle Materials makes up approximately 2.8% of Hodges Capital Management Inc.’s portfolio, making the stock its 6th biggest holding. Hodges Capital Management Inc. owned 0.47% of Eagle Materials worth $44,355,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tompkins Financial Corp purchased a new position in Eagle Materials in the 1st quarter valued at about $27,000. Rise Advisors LLC purchased a new position in Eagle Materials in the 1st quarter valued at about $27,000. Global Wealth Management Investment Advisory Inc. purchased a new position in Eagle Materials in the 4th quarter valued at about $30,000. Planned Solutions Inc. purchased a new position in Eagle Materials in the 4th quarter valued at about $35,000. Finally, Covestor Ltd lifted its stake in Eagle Materials by 112.6% in the 3rd quarter. Covestor Ltd now owns 321 shares of the construction company’s stock worth $54,000 after purchasing an additional 170 shares in the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Eagle Materials Stock Performance

EXP traded up $2.46 on Friday, reaching $217.46. The company had a trading volume of 643,574 shares, compared to its average volume of 318,446. The company has a quick ratio of 1.06, a current ratio of 2.62 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $7.36 billion, a PE ratio of 15.97 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 stock has a 50-day moving average price of $240.97 and a 200-day moving average price of $236.46.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Tuesday, May 21st. The construction company reported $2.24 EPS for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.48). The business had revenue of $476.70 million during the quarter, compared to analyst estimates of $480.20 million. Eagle Materials had a net margin of 21.14% and a return on equity of 37.31%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.79 earnings per share. As a group, research analysts forecast that Eagle Materials Inc. will post 16.01 EPS for the current fiscal year.

Eagle Materials Announces Dividend

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

Analysts Set New Price Targets

EXP has been the topic of a number of research reports. Stephens raised their target price on shares of Eagle Materials from $250.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. Raymond James raised their target price on shares of Eagle Materials from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. The Goldman Sachs Group raised their target price on shares of Eagle Materials from $238.00 to $273.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Citigroup decreased their target price on shares of Eagle Materials from $311.00 to $297.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Eagle Materials from $200.00 to $265.00 and gave the stock a “neutral” rating in a report on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $279.67.

Eagle Materials 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.