Weitz Investment Management Inc. purchased a new position in shares of Eagle Materials, Inc. (NYSE:EXP) in the 1st quarter, HoldingsChannel reports. The firm purchased 78,500 shares of the construction company’s stock, valued at approximately $6,618,000.
Other institutional investors also recently added to or reduced their stakes in the company. Amalgamated Bank grew its holdings in Eagle Materials by 49.0% during the fourth quarter. Amalgamated Bank now owns 10,704 shares of the construction company’s stock worth $653,000 after acquiring an additional 3,519 shares during the period. Janus Henderson Group PLC grew its holdings in Eagle Materials by 21.8% during the first quarter. Janus Henderson Group PLC now owns 6,535 shares of the construction company’s stock worth $551,000 after acquiring an additional 1,168 shares during the period. Broad Bay Capital Management LP acquired a new position in Eagle Materials during the fourth quarter worth $18,816,000. California Public Employees Retirement System grew its holdings in Eagle Materials by 20.7% during the fourth quarter. California Public Employees Retirement System now owns 118,195 shares of the construction company’s stock worth $7,213,000 after acquiring an additional 20,307 shares during the period. Finally, Sprucegrove Investment Management Ltd. grew its holdings in Eagle Materials by 8.1% during the fourth quarter. Sprucegrove Investment Management Ltd. now owns 204,000 shares of the construction company’s stock worth $12,450,000 after acquiring an additional 15,200 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.
Eagle Materials stock traded down $0.96 during trading hours on Friday, hitting $87.27. The stock had a trading volume of 14,627 shares, compared to its average volume of 505,635. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.85 and a current ratio of 2.38. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 1.51 and a beta of 1.31. Eagle Materials, Inc. has a 1-year low of $57.00 and a 1-year high of $113.44.
Eagle Materials (NYSE:EXP) last posted its earnings results on Thursday, May 16th. The construction company reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.08. The company had revenue of $284.70 million for the quarter, compared to analyst estimates of $278.70 million. Eagle Materials had a return on equity of 17.82% and a net margin of 4.94%. Eagle Materials’s revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.76 earnings per share. As a group, sell-side analysts forecast that Eagle Materials, Inc. will post 5.66 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, June 21st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.46%. The ex-dividend date is Thursday, June 20th. Eagle Materials’s dividend payout ratio (DPR) is 7.92%.
A number of brokerages recently weighed in on EXP. Zacks Investment Research raised Eagle Materials from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a report on Tuesday, June 4th. TheStreet lowered Eagle Materials from a “b” rating to a “c+” rating in a report on Friday, May 17th. Raymond James upped their price objective on Eagle Materials from $95.00 to $97.00 and gave the stock an “outperform” rating in a report on Friday, May 17th. Citigroup upped their price objective on Eagle Materials from $101.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Finally, Berenberg Bank began coverage on Eagle Materials in a report on Wednesday, April 3rd. They set a “buy” rating and a $103.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Eagle Materials has an average rating of “Buy” and an average target price of $102.68.
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Eagle Materials Company Profile
Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials, light building materials, and materials used for oil and natural gas extraction in the United States. It operates in five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants.
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