Norges Bank Purchases New Stake in Eagle Materials Inc. (NYSE:EXP)

Norges Bank acquired a new position in shares of Eagle Materials Inc. (NYSE:EXP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 379,606 shares of the construction company’s stock, valued at approximately $93,672,000. Norges Bank owned about 1.14% of Eagle Materials as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in EXP. Private Trust Co. NA grew its position in shares of Eagle Materials by 53.0% during the 4th quarter. Private Trust Co. NA now owns 205 shares of the construction company’s stock valued at $51,000 after acquiring an additional 71 shares during the period. R Squared Ltd purchased a new position in Eagle Materials in the fourth quarter valued at approximately $81,000. Smartleaf Asset Management LLC grew its holdings in 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 during the period. GAMMA Investing LLC increased its position in Eagle Materials by 10.6% in the fourth quarter. GAMMA Investing LLC now owns 676 shares of the construction company’s stock worth $167,000 after buying an additional 65 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in shares of Eagle Materials in the fourth quarter valued at $170,000. Institutional investors own 96.07% of the company’s stock.

Insiders Place Their Bets

In related news, Director Michael R. Nicolais acquired 310 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was bought at an average cost of $257.36 per share, with a total value of $79,781.60. Following the acquisition, the director now owns 3,655 shares of the company’s stock, valued at approximately $940,650.80. The trade was a 9.27 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Eagle Materials Stock Up 2.5 %

EXP opened at $227.42 on Wednesday. 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 Inc. has a one year low of $205.44 and a one year high of $321.93. The firm has a market capitalization of $7.57 billion, a P/E ratio of 16.24 and a beta of 1.37. The company has a fifty day moving average price of $235.12 and a 200-day moving average price of $264.88.

Eagle Materials (NYSE:EXP) last announced its earnings results on Wednesday, January 29th. The construction company reported $3.59 earnings per share for the quarter, missing analysts’ consensus estimates of $3.97 by ($0.38). Eagle Materials had a return on equity of 34.14% and a net margin of 20.91%. Equities research analysts expect that Eagle Materials Inc. will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 17th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 0.44%. Eagle Materials’s payout ratio is presently 7.14%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on EXP shares. DA Davidson cut their price target on Eagle Materials from $265.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Stifel Nicolaus started coverage on shares of Eagle Materials in a research report on Tuesday, March 4th. They set a “hold” rating and a $242.00 target price for the company. Loop Capital lowered their price target on shares of Eagle Materials from $280.00 to $245.00 and set a “hold” rating on the stock in a research report on Tuesday. Stephens restated an “overweight” rating and set a $310.00 price target on shares of Eagle Materials in a research note on Thursday, January 30th. Finally, Jefferies Financial Group lowered shares of Eagle Materials from a “buy” rating to a “hold” rating and reduced their price objective for the company from $330.00 to $310.00 in a research note on Monday, December 16th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eagle Materials has an average rating of “Hold” and a consensus target price of $279.40.

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.