Farringdon Capital Ltd. Acquires New Stake in Eagle Materials Inc. (NYSE:EXP)

Farringdon Capital Ltd. purchased a new stake in Eagle Materials Inc. (NYSE:EXP - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,329 shares of the construction company's stock, valued at approximately $328,000.

A number of other large investors also recently made changes to their positions in the stock. NewEdge Advisors LLC lifted its stake in shares of Eagle Materials by 53.0% in the 4th quarter. NewEdge Advisors LLC now owns 6,460 shares of the construction company's stock valued at $1,594,000 after purchasing an additional 2,238 shares during the period. Baupost Group LLC MA boosted its holdings in shares of Eagle Materials by 27.6% in the fourth quarter. Baupost Group LLC MA now owns 638,223 shares of the construction company's stock valued at $157,488,000 after buying an additional 137,950 shares during the period. Mariner LLC boosted its holdings in Eagle Materials by 5.0% during the fourth quarter. Mariner LLC now owns 7,333 shares of the construction company's stock worth $1,810,000 after purchasing an additional 347 shares during the last quarter. Optimize Financial Inc acquired a new position in Eagle Materials during the fourth quarter worth $247,000. Finally, Distillate Capital Partners LLC acquired a new position in Eagle Materials during the fourth quarter worth $14,964,000. Institutional investors and hedge funds own 96.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. DA Davidson cut their price target on shares of Eagle Materials from $265.00 to $260.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. Truist Financial cut their price target on shares of Eagle Materials from $330.00 to $280.00 and set a "buy" rating for the company in a research note on Thursday. Stephens reiterated an "overweight" rating and issued a $310.00 price target on shares of Eagle Materials in a research note on Thursday, January 30th. Loop Capital dropped their price objective on shares of Eagle Materials from $280.00 to $245.00 and set a "hold" rating on the stock in a research report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Eagle Materials from $310.00 to $250.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $274.40.

Insider Activity

In other news, Director Michael R. Nicolais purchased 310 shares of the company's stock in a transaction dated Monday, February 10th. The stock was bought at an average cost of $257.36 per share, for a total transaction of $79,781.60. Following the purchase, the director now owns 3,655 shares of the company's stock, valued at approximately $940,650.80. The trade was a 9.27 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.

Eagle Materials Price Performance

EXP stock traded up $2.95 during mid-day trading on Thursday, hitting $219.20. The stock had a trading volume of 64,454 shares, compared to its average volume of 386,426. The company has a current ratio of 2.76, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. Eagle Materials Inc. has a 52 week low of $201.61 and a 52 week high of $321.93. The firm has a market capitalization of $7.30 billion, a P/E ratio of 15.66 and a beta of 1.25. The firm has a fifty day simple moving average of $221.69 and a 200 day simple moving average of $257.10.

Eagle Materials (NYSE:EXP - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The construction company reported $3.59 earnings per share for the quarter, missing analysts' consensus estimates of $3.97 by ($0.38). Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. As a group, research analysts forecast that Eagle Materials Inc. will post 14.39 EPS for the current year.

Eagle Materials Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 14th. Stockholders of record on Monday, March 17th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date was Monday, March 17th. Eagle Materials's payout ratio is 7.14%.

About Eagle Materials

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.