Balefire LLC Makes New Investment in Eagle Materials Inc (NYSE:EXP)

Balefire LLC purchased a new stake in shares of Eagle Materials Inc (NYSE:EXP) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 1,658 shares of the construction company’s stock, valued at approximately $368,000.

A number of other large investors have also modified their holdings of the company. Hi Line Capital Management LLC bought a new position in Eagle Materials in the 1st quarter worth approximately $4,770,000. Sheets Smith Wealth Management raised its stake in shares of Eagle Materials by 4.4% during the first quarter. Sheets Smith Wealth Management now owns 2,696 shares of the construction company’s stock valued at $598,000 after purchasing an additional 113 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Eagle Materials by 12.4% during the first quarter. Oppenheimer & Co. Inc. now owns 5,402 shares of the construction company’s stock valued at $1,199,000 after purchasing an additional 595 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Eagle Materials by 14.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 16,443 shares of the construction company’s stock worth $3,649,000 after purchasing an additional 2,045 shares during the period. Finally, Ausbil Investment Management Ltd grew its position in Eagle Materials by 469.7% in the 1st quarter. Ausbil Investment Management Ltd now owns 2,951 shares of the construction company’s stock valued at $655,000 after buying an additional 2,433 shares in the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

Eagle Materials Trading Down 2.4%

NYSE EXP opened at $200.93 on Thursday. The firm’s 50 day moving average price is $214.46 and its two-hundred day moving average price is $230.76. The stock has a market cap of $6.56 billion, a price-to-earnings ratio of 14.60 and a beta of 1.28. Eagle Materials Inc has a twelve month low of $191.91 and a twelve month high of $321.93. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.03 and a current ratio of 2.73.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Tuesday, May 20th. The construction company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.26). Eagle Materials had a net margin of 20.50% and a return on equity of 32.71%. The business had revenue of $470.18 million for the quarter, compared to analyst estimates of $483.14 million. During the same period in the previous year, the firm posted $2.24 earnings per share. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. Equities analysts anticipate that Eagle Materials Inc will post 14.39 EPS for the current year.

Eagle Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Monday, June 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Monday, June 16th. Eagle Materials’s payout ratio is presently 7.27%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on EXP shares. The Goldman Sachs Group set a $242.00 target price on Eagle Materials and gave the stock a “buy” rating in a report on Wednesday, May 21st. Stifel Nicolaus set a $241.00 target price on Eagle Materials and gave the stock a “hold” rating in a report on Wednesday, May 21st. Loop Capital reduced their price objective on shares of Eagle Materials from $245.00 to $237.00 and set a “hold” rating for the company in a research report on Wednesday, May 21st. Wall Street Zen cut shares of Eagle Materials from a “hold” rating to a “sell” rating in a research note on Saturday, May 24th. Finally, DA Davidson decreased their price target on shares of Eagle Materials from $260.00 to $245.00 and set a “neutral” rating on the stock in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $254.44.

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.