W1M Asset Management Ltd bought a new stake in Eagle Materials Inc (NYSE:EXP – Free Report) in the 2nd quarter, Holdings Channel.com reports. The fund bought 689,422 shares of the construction company’s stock, valued at approximately $155,199,000. Eagle Materials makes up 1.4% of W1M Asset Management Ltd’s investment portfolio, making the stock its 23rd largest holding.
Several other institutional investors also recently modified their holdings of the business. Clearstead Advisors LLC grew its holdings in Eagle Materials by 266.7% during the 4th quarter. Clearstead Advisors LLC now owns 132 shares of the construction company’s stock worth $27,000 after acquiring an additional 96 shares during the period. IFP Advisors Inc boosted its position in shares of Eagle Materials by 389.3% in the 4th quarter. IFP Advisors Inc now owns 137 shares of the construction company’s stock worth $28,000 after purchasing an additional 109 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Eagle Materials in the 4th quarter worth $29,000. Measured Wealth Private Client Group LLC bought a new position in shares of Eagle Materials in the 3rd quarter worth $34,000. Finally, EverSource Wealth Advisors LLC grew its stake 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 worth $35,000 after purchasing an additional 87 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.
Eagle Materials Stock Performance
Shares of Eagle Materials stock opened at $207.15 on Friday. The stock’s fifty day simple moving average is $213.74 and its 200 day simple moving average is $209.15. 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 market capitalization of $6.35 billion, a PE ratio of 16.38 and a beta of 1.38. Eagle Materials Inc has a 12 month low of $171.99 and a 12 month high of $245.53.
Eagle Materials Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Monday, September 14th will be given a $0.25 dividend. The ex-dividend date is Monday, September 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Eagle Materials’s payout ratio is currently 7.91%.
Analyst Ratings Changes
Several research firms have recently issued reports on EXP. JPMorgan Chase & Co. upgraded Eagle Materials from an “underweight” rating to a “neutral” rating and set a $225.00 target price for the company in a research report on Tuesday, June 2nd. Stephens increased their price target 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. Wells Fargo & Company reduced their price objective on shares of Eagle Materials from $240.00 to $231.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Citigroup decreased their price objective on shares of Eagle Materials from $240.00 to $232.00 and set a “neutral” rating for the company in a report on Monday, August 10th. Finally, Royal Bank Of Canada upped their target price on shares of Eagle Materials from $208.00 to $219.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $222.56.
Read Our Latest Stock Analysis on Eagle Materials
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.
Further Reading
- Five stocks we like better than Eagle Materials
- 2 Biotech Stocks Shaping Up for Major Breakouts
- 3 Stocks Came Roaring Back—Now They’re Flashing Warning Signs
- 3 Beaten-Down Stocks That Haven’t Gotten the Message About the S&P 500’s Record Run
- Darden Restaurants Just Hit a 52-Week High–Is the Olive Garden Comeback Story Legit?
Want to see what other hedge funds are holding EXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eagle Materials Inc (NYSE:EXP – Free Report).
Receive News & Ratings for Eagle Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Materials and related companies with MarketBeat.com's FREE daily email newsletter.
