Synovus Financial Corp Sells 386 Shares of Eagle Materials Inc. (NYSE:EXP)

Synovus Financial Corp cut its holdings in shares of Eagle Materials Inc. (NYSE:EXPGet Rating) by 10.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,473 shares of the construction company’s stock after selling 386 shares during the period. Synovus Financial Corp’s holdings in Eagle Materials were worth $382,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EXP. State Street Corp grew its holdings in shares of Eagle Materials by 0.3% during the first quarter. State Street Corp now owns 1,056,912 shares of the construction company’s stock worth $135,929,000 after purchasing an additional 3,684 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Eagle Materials by 40.0% during the 2nd quarter. Victory Capital Management Inc. now owns 875,680 shares of the construction company’s stock worth $96,273,000 after acquiring an additional 250,400 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Eagle Materials by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 597,838 shares of the construction company’s stock valued at $76,744,000 after acquiring an additional 16,295 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Eagle Materials by 1.3% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 513,518 shares of the construction company’s stock worth $65,915,000 after acquiring an additional 6,492 shares during the last quarter. Finally, Brown Advisory Inc. raised its stake in shares of Eagle Materials by 2.2% in the first quarter. Brown Advisory Inc. now owns 511,157 shares of the construction company’s stock worth $66,219,000 after acquiring an additional 11,230 shares during the last quarter. 93.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Citigroup raised their price target on shares of Eagle Materials to $138.00 in a report on Thursday, October 27th. Raymond James lowered their target price on Eagle Materials from $145.00 to $140.00 and set an “outperform” rating for the company in a research note on Thursday, October 27th. StockNews.com assumed coverage on Eagle Materials in a research report on Wednesday, October 12th. They set a “buy” rating for the company. Stephens raised their price target on Eagle Materials from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, October 27th. Finally, JPMorgan Chase & Co. boosted their price objective on Eagle Materials from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Thursday, September 22nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $150.11.

Eagle Materials Trading Up 2.4 %

NYSE EXP opened at $130.81 on Monday. Eagle Materials Inc. has a 12 month low of $101.98 and a 12 month high of $169.15. The stock has a 50-day simple moving average of $116.99 and a 200 day simple moving average of $120.32. The company has a current ratio of 2.48, a quick ratio of 1.46 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $4.82 billion, a PE ratio of 12.00 and a beta of 1.29.

Eagle Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 12th. Investors of record on Friday, December 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, December 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.76%. Eagle Materials’s dividend payout ratio is 9.17%.

About Eagle Materials

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Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials and light building materials in the United States. It operates through Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard segments. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland 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.

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Institutional Ownership by Quarter for Eagle Materials (NYSE:EXP)

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