Summit Investment Advisors Inc. Decreases Holdings in Eagle Materials Inc. (NYSE:EXP)

Summit Investment Advisors Inc. decreased its holdings in Eagle Materials Inc. (NYSE:EXP) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,719 shares of the construction company’s stock after selling 178 shares during the period. Summit Investment Advisors Inc.’s holdings in Eagle Materials were worth $1,658,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its stake in shares of Eagle Materials by 50.0% in the 3rd quarter. HighTower Advisors LLC now owns 2,887 shares of the construction company’s stock valued at $828,000 after purchasing an additional 962 shares during the last quarter. Quantinno Capital Management LP bought a new stake in Eagle Materials in the third quarter worth $230,000. Barclays PLC boosted its stake in Eagle Materials by 78.1% during the third quarter. Barclays PLC now owns 37,948 shares of the construction company’s stock worth $10,915,000 after buying an additional 16,645 shares during the period. Sanctuary Advisors LLC boosted its stake in Eagle Materials by 20.0% during the third quarter. Sanctuary Advisors LLC now owns 2,883 shares of the construction company’s stock worth $906,000 after buying an additional 480 shares during the period. Finally, World Investment Advisors LLC bought a new position in Eagle Materials during the third quarter valued at $34,846,000. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Eagle Materials Price Performance

Shares of EXP stock opened at $223.72 on Wednesday. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of 15.98 and a beta of 1.25. The company has a current ratio of 2.76, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. Eagle Materials Inc. has a twelve month low of $201.61 and a twelve month high of $321.93. The stock has a fifty day simple moving average of $226.21 and a two-hundred day simple moving average of $259.79.

Eagle Materials (NYSE:EXP) last issued its earnings results on Wednesday, January 29th. The construction company reported $3.59 earnings per share (EPS) 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%. On average, analysts predict that Eagle Materials Inc. will post 14.39 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Investors of record on Monday, March 17th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date was Monday, March 17th. Eagle Materials’s payout ratio is 7.14%.

Insider Buying and Selling

In related news, Director Michael R. Nicolais bought 310 shares of the business’s stock in a transaction on Monday, February 10th. The shares were bought 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 directly owns 3,655 shares of the company’s stock, valued at approximately $940,650.80. This trade represents a 9.27 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on EXP shares. Loop Capital lowered their target price on shares of Eagle Materials from $280.00 to $245.00 and set a “hold” rating for the company in a report on Tuesday, April 1st. DA Davidson dropped their target price on Eagle Materials from $265.00 to $260.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Citigroup cut Eagle Materials from a “buy” rating to a “neutral” rating and cut their target price for the company from $334.00 to $280.00 in a research note on Monday, January 6th. Stephens reissued an “overweight” rating and set a $310.00 price target on shares of Eagle Materials in a research note on Thursday, January 30th. Finally, Stifel Nicolaus assumed coverage on Eagle Materials in a research report on Tuesday, March 4th. They issued a “hold” rating and a $242.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Eagle Materials presently has an average rating of “Hold” and a consensus price target of $279.40.

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.