1832 Asset Management L.P. Invests $535,000 in Eagle Materials Inc $EXP

Key Points

• 1832 Asset Management L.P. has acquired a new stake in Eagle Materials Inc, purchasing 2,412 shares valued at approximately $535,000.
• Institutional investors largely dominate Eagle Materials, owning 96.07% of the company's stock, with significant increases in stakes from various hedge funds in the recent quarter.
• Eagle Materials reported earnings of $3.76 per share for the last quarter, which exceeded analysts' expectations and highlighted a robust net margin of 19.81%.

1832 Asset Management L.P. acquired a new position in shares of Eagle Materials Inc (NYSE:EXP - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,412 shares of the construction company's stock, valued at approximately $535,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Transce3nd LLC increased its holdings in shares of Eagle Materials by 9.7% during the 1st quarter. Transce3nd LLC now owns 552 shares of the construction company's stock worth $122,000 after buying an additional 49 shares during the last quarter. Parallel Advisors LLC increased its holdings in Eagle Materials by 26.8% in the 1st quarter. Parallel Advisors LLC now owns 246 shares of the construction company's stock valued at $55,000 after purchasing an additional 52 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Eagle Materials by 6.0% in the 4th quarter. Hsbc Holdings PLC now owns 973 shares of the construction company's stock valued at $240,000 after purchasing an additional 55 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Eagle Materials by 0.4% in the 1st quarter. State of Alaska Department of Revenue now owns 17,433 shares of the construction company's stock valued at $3,868,000 after purchasing an additional 75 shares in the last quarter. Finally, HighPoint Advisor Group LLC increased its holdings in Eagle Materials by 3.8% in the 1st quarter. HighPoint Advisor Group LLC now owns 2,110 shares of the construction company's stock valued at $468,000 after purchasing an additional 77 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Eagle Materials Stock Up 0.0%

NYSE:EXP traded up $0.07 on Monday, reaching $230.56. The stock had a trading volume of 274,962 shares, compared to its average volume of 311,441. The company has a current ratio of 2.73, a quick ratio of 1.26 and a debt-to-equity ratio of 0.87. The company has a 50-day moving average of $222.12 and a 200 day moving average of $219.81. The stock has a market cap of $7.48 billion, a P/E ratio of 16.98 and a beta of 1.28. Eagle Materials Inc has a 12-month low of $191.91 and a 12-month high of $321.93.

Eagle Materials (NYSE:EXP - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The construction company reported $3.76 earnings per share for the quarter, beating analysts' consensus estimates of $3.73 by $0.03. The company had revenue of $634.69 million during the quarter, compared to analysts' expectations of $611.52 million. Eagle Materials had a net margin of 19.81% and a return on equity of 31.21%. On average, research analysts predict that Eagle Materials Inc will post 14.39 earnings per share for the current year.

Eagle Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Monday, September 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Eagle Materials's dividend payout ratio is presently 7.36%.

Analyst Ratings Changes

Several brokerages recently issued reports on EXP. Stifel Nicolaus set a $241.00 price target on Eagle Materials and gave the company a "hold" rating in a report on Wednesday, May 21st. Wall Street Zen upgraded Eagle Materials from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. DA Davidson lowered their price target on Eagle Materials from $260.00 to $245.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. The Goldman Sachs Group set a $242.00 price target on Eagle Materials and gave the company a "buy" rating in a report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. increased their price target on Eagle Materials from $220.00 to $245.00 and gave the company a "neutral" rating in a report on Tuesday, August 26th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $254.78.

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.