Westport Asset Management Inc. acquired a new position in Eagle Materials Inc (NYSE:EXP – Free Report) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 8,000 shares of the construction company’s stock, valued at approximately $1,800,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Focus Partners Wealth increased its stake in shares of Eagle Materials by 21.5% during the first quarter. Focus Partners Wealth now owns 2,019 shares of the construction company’s stock valued at $448,000 after acquiring an additional 357 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Eagle Materials by 102.4% during the second quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company’s stock valued at $35,000 after purchasing an additional 87 shares during the last quarter. First Trust Advisors LP lifted its stake in Eagle Materials by 5.8% during the second quarter. First Trust Advisors LP now owns 101,969 shares of the construction company’s stock valued at $20,609,000 after buying an additional 5,612 shares in the last quarter. Baird Financial Group Inc. boosted its stake in Eagle Materials by 8.0% in the 2nd quarter. Baird Financial Group Inc. now owns 1,364 shares of the construction company’s stock worth $276,000 after purchasing an additional 101 shares during the period. Finally, Jump Financial LLC grew its holdings in shares of Eagle Materials by 359.9% during the second quarter. Jump Financial LLC now owns 12,510 shares of the construction company’s stock valued at $2,528,000 after buying an additional 9,790 shares in the last quarter. Institutional investors own 96.07% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the stock. Stephens boosted their price objective on shares of Eagle Materials from $225.00 to $230.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Royal Bank Of Canada raised their price objective on Eagle Materials from $208.00 to $219.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 20th. Citigroup cut their target price on shares of Eagle Materials from $240.00 to $232.00 and set a “neutral” rating for the company in a research report on Monday, August 10th. Wells Fargo & Company reduced their price objective on Eagle Materials from $240.00 to $231.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Finally, Zacks Research downgraded Eagle Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $222.56.
Eagle Materials Trading Up 2.8%
Shares of NYSE EXP opened at $206.00 on Thursday. The company has a current ratio of 3.23, a quick ratio of 1.91 and a debt-to-equity ratio of 1.17. The company has a 50-day moving average of $214.18 and a two-hundred day moving average of $209.17. Eagle Materials Inc has a 1-year low of $171.99 and a 1-year high of $245.53. The company has a market cap of $6.32 billion, a PE ratio of 16.28 and a beta of 1.38.
Eagle Materials (NYSE:EXP – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.37 by ($0.08). The firm had revenue of $650.97 million for the quarter, compared to analyst estimates of $620.35 million. Eagle Materials had a return on equity of 26.87% and a net margin of 17.32%.The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $3.76 EPS. As a group, equities analysts expect that Eagle Materials Inc will post 12.66 earnings per share for the current fiscal year.
Eagle Materials Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Monday, September 14th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 14th. Eagle Materials’s payout ratio is 7.91%.
Eagle Materials Company 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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