Eagle Materials Inc. (NYSE:EXP) Shares Sold by Citigroup Inc.

Citigroup Inc. trimmed its stake in Eagle Materials Inc. (NYSE:EXP – Get Rating) by 1.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 28,628 shares of the construction company’s stock after selling 487 shares during the period. Citigroup Inc.’s holdings in Eagle Materials were worth $3,803,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Meritage Portfolio Management grew its holdings in shares of Eagle Materials by 3.6% in the 4th quarter. Meritage Portfolio Management now owns 1,987 shares of the construction company’s stock worth $264,000 after acquiring an additional 69 shares during the last quarter. Synovus Financial Corp boosted its position in shares of Eagle Materials by 2.7% in the fourth quarter. Synovus Financial Corp now owns 2,716 shares of the construction company’s stock worth $361,000 after buying an additional 71 shares during the period. Pallas Capital Advisors LLC boosted its position in shares of Eagle Materials by 0.7% in the fourth quarter. Pallas Capital Advisors LLC now owns 11,302 shares of the construction company’s stock worth $1,587,000 after buying an additional 73 shares during the period. Fifth Third Bancorp boosted its position in shares of Eagle Materials by 23.6% in the fourth quarter. Fifth Third Bancorp now owns 388 shares of the construction company’s stock worth $52,000 after buying an additional 74 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of Eagle Materials by 8.9% in the fourth quarter. Van ECK Associates Corp now owns 1,234 shares of the construction company’s stock worth $164,000 after buying an additional 101 shares during the period. 93.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on EXP shares. Stephens raised their target price on Eagle Materials from $170.00 to $190.00 in a research report on Friday. The Goldman Sachs Group raised their target price on Eagle Materials from $130.00 to $149.00 and gave the stock a “buy” rating in a research report on Friday, January 27th. Loop Capital raised their target price on Eagle Materials from $145.00 to $160.00 and gave the stock a “hold” rating in a research report on Friday, April 21st. StockNews.com initiated coverage on Eagle Materials in a research report on Thursday. They issued a “buy” rating for the company. Finally, Truist Financial lifted their price objective on Eagle Materials from $155.00 to $195.00 in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eagle Materials currently has an average rating of “Moderate Buy” and an average price target of $164.86.

Eagle Materials Price Performance

EXP opened at $167.21 on Monday. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of 13.42 and a beta of 1.31. Eagle Materials Inc. has a 1 year low of $101.98 and a 1 year high of $169.19. The company has a current ratio of 2.45, a quick ratio of 1.17 and a debt-to-equity ratio of 0.97. The stock has a fifty day moving average price of $146.50 and a 200 day moving average price of $140.93.

Eagle Materials (NYSE:EXP – Get Rating) last announced its quarterly earnings results on Thursday, May 18th. The construction company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.35 by $0.44. Eagle Materials had a return on equity of 40.09% and a net margin of 21.49%. The company had revenue of $470.10 million during the quarter, compared to analysts’ expectations of $452.11 million. During the same quarter in the previous year, the firm earned $1.90 earnings per share. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. Analysts forecast that Eagle Materials Inc. will post 12.73 EPS for the current fiscal year.

Eagle Materials Company Profile

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Eagle Materials, Inc engages in the provision of heavy construction materials and light building materials. It operates through the following segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The Cement segment deals with the manufacture, production, distribution, and sale of Portland cement.