Oppenheimer Asset Management Inc. Increases Position in Eagle Materials Inc $EXP

Oppenheimer Asset Management Inc. grew its holdings in Eagle Materials Inc (NYSE:EXP) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,671 shares of the construction company’s stock after purchasing an additional 228 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.05% of Eagle Materials worth $3,369,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Transce3nd LLC lifted its position in Eagle Materials by 9.7% during the first quarter. Transce3nd LLC now owns 552 shares of the construction company’s stock worth $122,000 after buying an additional 49 shares in the last quarter. Sheets Smith Wealth Management increased its stake in shares of Eagle Materials by 2.0% in the 2nd quarter. Sheets Smith Wealth Management now owns 2,750 shares of the construction company’s stock worth $556,000 after acquiring an additional 54 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Eagle Materials by 5.2% during the 2nd quarter. Blue Trust Inc. now owns 1,146 shares of the construction company’s stock worth $232,000 after acquiring an additional 57 shares during the period. Fulton Bank N.A. boosted its position in shares of Eagle Materials by 6.1% during the 2nd quarter. Fulton Bank N.A. now owns 1,084 shares of the construction company’s stock valued at $219,000 after acquiring an additional 62 shares during the last quarter. Finally, Tectonic Advisors LLC grew its holdings in shares of Eagle Materials by 0.6% in the second quarter. Tectonic Advisors LLC now owns 9,652 shares of the construction company’s stock valued at $1,951,000 after purchasing an additional 62 shares during the period. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on EXP. JPMorgan Chase & Co. lifted their target price on shares of Eagle Materials from $220.00 to $245.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 26th. Wells Fargo & Company raised shares of Eagle Materials to a “strong-buy” rating in a research report on Wednesday, October 8th. Loop Capital increased their price objective on Eagle Materials from $230.00 to $245.00 and gave the stock a “hold” rating in a research report on Wednesday, July 30th. Weiss Ratings restated a “hold (c+)” rating on shares of Eagle Materials in a research report on Wednesday, October 8th. Finally, Zacks Research lowered Eagle Materials from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Eagle Materials has a consensus rating of “Hold” and an average price target of $255.90.

Eagle Materials Trading Down 1.3%

EXP opened at $230.58 on Wednesday. Eagle Materials Inc has a 52 week low of $191.91 and a 52 week high of $321.93. The company has a quick ratio of 1.26, a current ratio of 2.73 and a debt-to-equity ratio of 0.87. The business has a fifty day simple moving average of $233.25 and a 200-day simple moving average of $222.95. The firm has a market cap of $7.48 billion, a P/E ratio of 16.98 and a beta of 1.31.

Eagle Materials (NYSE:EXP) last posted its earnings results on Tuesday, July 29th. The construction company reported $3.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.03. Eagle Materials had a return on equity of 31.21% and a net margin of 19.81%.The firm had revenue of $634.69 million for the quarter, compared to analyst estimates of $611.52 million. On average, equities analysts expect that Eagle Materials Inc will post 14.39 earnings per share for the current year.

Eagle Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Stockholders of record on Monday, September 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.4%. Eagle Materials’s dividend payout ratio (DPR) is presently 7.36%.

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.