CCM Investment Group LLC Buys Shares of 2,165 Eagle Materials Inc (NYSE:EXP)

Key Points

• CCM Investment Group LLC acquired 2,165 shares of Eagle Materials Inc valued at approximately $478,000 in the first quarter, highlighting increased interest from institutional investors.
• Eagle Materials reported a quarterly earnings per share (EPS) of $3.76, exceeding analysts' expectations, with revenue reaching $634.69 million for the period.
• The company announced a dividend of $0.25 per share, payable on October 16th, representing an annual yield of 0.4% and a payout ratio of 7.36%.

CCM Investment Group LLC purchased a new stake in shares of Eagle Materials Inc (NYSE:EXP - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,165 shares of the construction company's stock, valued at approximately $478,000.

Other large investors have also modified their holdings of the company. Parallel Advisors LLC boosted its stake in shares of Eagle Materials by 26.8% during the 1st quarter. Parallel Advisors LLC now owns 246 shares of the construction company's stock worth $55,000 after acquiring an additional 52 shares in the last quarter. Private Trust Co. NA boosted its stake in shares of Eagle Materials by 39.0% during the 1st quarter. Private Trust Co. NA now owns 285 shares of the construction company's stock worth $63,000 after acquiring an additional 80 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Eagle Materials by 486.6% during the 1st quarter. Assetmark Inc. now owns 393 shares of the construction company's stock worth $87,000 after acquiring an additional 326 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Eagle Materials by 39.1% during the 1st quarter. Signaturefd LLC now owns 466 shares of the construction company's stock worth $103,000 after acquiring an additional 131 shares in the last quarter. Finally, LGT Financial Advisors LLC boosted its stake in shares of Eagle Materials by 233.1% during the 4th quarter. LGT Financial Advisors LLC now owns 443 shares of the construction company's stock worth $109,000 after acquiring an additional 310 shares in the last quarter. 96.07% of the stock is owned by institutional investors.

Eagle Materials Stock Up 3.2%

Shares of NYSE:EXP traded up $7.58 during midday trading on Wednesday, hitting $241.31. 383,274 shares of the stock were exchanged, compared to its average volume of 420,925. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.26 and a current ratio of 2.73. Eagle Materials Inc has a 52-week low of $191.91 and a 52-week high of $321.93. The business's fifty day simple moving average is $213.27 and its two-hundred day simple moving average is $222.30. The company has a market capitalization of $7.83 billion, a PE ratio of 17.77 and a beta of 1.24.

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

Eagle Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 15th. Eagle Materials's dividend payout ratio (DPR) is 7.36%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on EXP shares. Loop Capital raised their target price on Eagle Materials from $230.00 to $245.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Citigroup decreased their target price on Eagle Materials from $279.00 to $230.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. The Goldman Sachs Group set a $242.00 target price on Eagle Materials and gave the stock a "buy" rating in a research report on Wednesday, May 21st. DA Davidson decreased their target price on Eagle Materials from $260.00 to $245.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Finally, Stifel Nicolaus set a $241.00 target price on Eagle Materials and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Eagle Materials has a consensus rating of "Hold" and a consensus target price of $255.33.

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.