KLP Kapitalforvaltning AS Takes Position in Eagle Materials Inc. (NYSE:EXP)

KLP Kapitalforvaltning AS purchased a new position in Eagle Materials Inc. (NYSE:EXP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,900 shares of the construction company’s stock, valued at approximately $1,951,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Private Trust Co. NA boosted its holdings 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 buying an additional 71 shares in the last quarter. R Squared Ltd bought a new stake in Eagle Materials during the fourth quarter worth about $81,000. Smartleaf Asset Management LLC grew its holdings in Eagle Materials by 10.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 569 shares of the construction company’s stock worth $140,000 after purchasing an additional 56 shares during the period. 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 purchased 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.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on EXP shares. Stifel Nicolaus assumed coverage on Eagle Materials in a research note on Tuesday, March 4th. They issued a “hold” rating and a $242.00 price target on the stock. Stephens reissued an “overweight” rating and issued a $310.00 target price on shares of Eagle Materials in a research note on Thursday, January 30th. Citigroup lowered Eagle Materials from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $334.00 to $280.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. cut their price objective on shares of Eagle Materials from $310.00 to $250.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Finally, DA Davidson decreased their target price on shares of Eagle Materials from $265.00 to $260.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $286.40.

Eagle Materials Stock Down 1.3 %

Shares of Eagle Materials stock opened at $225.77 on Friday. Eagle Materials Inc. has a twelve month low of $205.44 and a twelve month high of $321.93. The company has a quick ratio of 1.01, a current ratio of 2.76 and a debt-to-equity ratio of 0.66. The company’s 50 day moving average is $237.15 and its 200 day moving average is $265.45. The company has a market cap of $7.52 billion, a price-to-earnings ratio of 16.13 and a beta of 1.37.

Eagle Materials (NYSE:EXP) last released 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 net margin of 20.91% and a return on equity of 34.14%. Research analysts anticipate that Eagle Materials Inc. will post 14.39 EPS for the current year.

Eagle Materials Dividend Announcement

The company 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 $0.25 dividend. 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 7.14%.

Insider Buying and Selling at Eagle Materials

In other Eagle Materials news, Director Michael R. Nicolais purchased 310 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were acquired at an average price of $257.36 per share, for a total transaction of $79,781.60. Following the purchase, the director now directly owns 3,655 shares of the company’s stock, valued at $940,650.80. The trade was a 9.27 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Eagle Materials Company 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.