Fifth Third Bancorp increased its stake in Eagle Materials Inc (NYSE:EXP – Free Report) by 5,116.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,612 shares of the construction company’s stock after acquiring an additional 25,121 shares during the period. Fifth Third Bancorp owned about 0.08% of Eagle Materials worth $4,852,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Black Creek Investment Management Inc. bought a new stake in Eagle Materials in the 4th quarter worth $103,778,000. Sprucegrove Investment Management Ltd. increased its holdings in Eagle Materials by 1,671.4% during the 4th quarter. Sprucegrove Investment Management Ltd. now owns 12,400 shares of the construction company’s stock valued at $2,563,000 after purchasing an additional 11,700 shares during the period. Cambiar Investors LLC purchased a new position in Eagle Materials during the 4th quarter valued at about $1,321,000. Oppenheimer Asset Management Inc. raised its position in Eagle Materials by 82.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 24,295 shares of the construction company’s stock valued at $5,021,000 after purchasing an additional 10,980 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in Eagle Materials by 56.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 74,990 shares of the construction company’s stock worth $15,499,000 after purchasing an additional 26,951 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
EXP has been the topic of a number of recent research reports. Royal Bank Of Canada upped their price objective on shares of Eagle Materials from $208.00 to $219.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 20th. Jefferies Financial Group reiterated a “hold” rating and set a $200.00 price target on shares of Eagle Materials in a report on Wednesday, May 20th. Stephens lowered their price objective on Eagle Materials from $235.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 20th. Zacks Research raised Eagle Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 1st. Finally, Citigroup lifted their target price on shares of Eagle Materials from $217.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $226.00.
Eagle Materials Price Performance
EXP stock opened at $206.13 on Friday. Eagle Materials Inc has a one year low of $171.99 and a one year high of $245.53. The company’s fifty day moving average price is $213.33 and its 200-day moving average price is $211.16. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.09 and a current ratio of 3.66. The company has a market capitalization of $6.37 billion, a PE ratio of 15.71 and a beta of 1.37.
Eagle Materials (NYSE:EXP – Get Free Report) last posted its earnings results on Tuesday, May 19th. The construction company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.32. The company had revenue of $479.11 million during the quarter, compared to analysts’ expectations of $451.99 million. Eagle Materials had a net margin of 18.36% and a return on equity of 28.27%. Eagle Materials’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the company posted $2.00 earnings per share. On average, equities analysts anticipate that Eagle Materials Inc will post 12.9 EPS for the current fiscal year.
Eagle Materials Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, June 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, June 15th. Eagle Materials’s payout ratio is currently 7.62%.
Eagle Materials Profile
Eagle Materials Inc (NYSE:EXP) is a Dallas, Texas–based manufacturer of building materials serving construction and heavy industry markets across the United States. The company’s primary products include portland and masonry cements, gypsum wallboard, lightweight aggregate, paperboard packaging, and roofing granules. These product lines support a wide range of end uses—from residential and commercial buildings to infrastructure projects and industrial applications.
Since its spin-off from a major homebuilding company in 2004, Eagle Materials has grown through targeted facility expansions and strategic acquisitions.
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