Thrivent Financial for Lutherans Cuts Stake in Eagle Materials Inc. (NYSE:EXP)

Thrivent Financial for Lutherans reduced its holdings in shares of Eagle Materials Inc. (NYSE:EXP) by 35.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,608 shares of the construction company’s stock after selling 10,910 shares during the period. Thrivent Financial for Lutherans owned about 0.06% of Eagle Materials worth $4,838,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Caprock Group LLC bought a new stake in Eagle Materials in the third quarter worth $208,000. Citigroup Inc. increased its holdings in shares of Eagle Materials by 34.6% in the third quarter. Citigroup Inc. now owns 21,828 shares of the construction company’s stock worth $6,279,000 after buying an additional 5,614 shares during the period. Cerity Partners LLC lifted its stake in shares of Eagle Materials by 23.8% in the 3rd quarter. Cerity Partners LLC now owns 13,924 shares of the construction company’s stock valued at $4,005,000 after acquiring an additional 2,679 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Eagle Materials by 43.1% during the 3rd quarter. Larson Financial Group LLC now owns 1,395 shares of the construction company’s stock valued at $401,000 after acquiring an additional 420 shares during the period. Finally, Harvest Fund Management Co. Ltd grew its position in Eagle Materials by 789.9% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 703 shares of the construction company’s stock worth $202,000 after acquiring an additional 624 shares during the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Jefferies Financial Group lowered Eagle Materials from a “buy” rating to a “hold” rating and dropped their price objective for the company from $330.00 to $310.00 in a research note on Monday, December 16th. Stephens reissued an “overweight” rating and set a $310.00 price target on shares of Eagle Materials in a research report on Thursday, January 30th. Loop Capital lowered shares of Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price target on the stock. in a report on Monday, November 25th. Stifel Nicolaus started coverage on shares of Eagle Materials in a research note on Tuesday, March 4th. They set a “hold” rating and a $242.00 price objective for the company. Finally, DA Davidson cut their target price on Eagle Materials from $265.00 to $260.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $286.40.

Insider Activity at Eagle Materials

In other news, Director Michael R. Nicolais bought 310 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were purchased at an average price of $257.36 per share, for a total transaction of $79,781.60. Following the completion of the purchase, the director now owns 3,655 shares in the company, valued at approximately $940,650.80. This represents a 9.27 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by insiders.

Eagle Materials Trading Up 4.6 %

NYSE:EXP opened at $228.11 on Tuesday. The firm has a market capitalization of $7.59 billion, a P/E ratio of 16.29 and a beta of 1.37. 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 company’s 50-day simple moving average is $238.45 and its 200 day simple moving average is $266.08.

Eagle Materials (NYSE:EXP) last posted 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, analysts forecast that Eagle Materials Inc. will post 14.39 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 17th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Monday, March 17th. Eagle Materials’s payout ratio is 7.14%.

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.