Sowell Financial Services LLC Invests $616,000 in Eagle Materials Inc (NYSE:EXP)

Sowell Financial Services LLC purchased a new position in shares of Eagle Materials Inc (NYSE:EXP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,774 shares of the construction company's stock, valued at approximately $616,000.

Other hedge funds have also bought and sold shares of the company. Asio Capital LLC raised its position in shares of Eagle Materials by 9.1% during the 1st quarter. Asio Capital LLC now owns 10,481 shares of the construction company's stock worth $2,326,000 after purchasing an additional 873 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in Eagle Materials in the first quarter valued at $22,843,000. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Eagle Materials by 10.6% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 92,178 shares of the construction company's stock valued at $20,457,000 after acquiring an additional 8,800 shares during the period. SG Americas Securities LLC increased its holdings in shares of Eagle Materials by 163.5% in the 1st quarter. SG Americas Securities LLC now owns 1,515 shares of the construction company's stock worth $336,000 after acquiring an additional 940 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Eagle Materials by 21.2% in the first quarter. GAMMA Investing LLC now owns 819 shares of the construction company's stock worth $182,000 after purchasing an additional 143 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Eagle Materials Trading Up 2.6%

EXP traded up $5.12 during trading on Monday, reaching $201.87. The company had a trading volume of 347,170 shares, compared to its average volume of 348,545. The firm's 50-day simple moving average is $215.12 and its 200 day simple moving average is $231.14. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.03 and a current ratio of 2.73. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 14.67 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 issued its quarterly earnings results on Tuesday, May 20th. The construction company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.26). The firm had revenue of $470.18 million during the quarter, compared to analysts' expectations of $483.14 million. Eagle Materials had a net margin of 20.50% and a return on equity of 32.71%. The firm's revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.24 EPS. Equities research analysts anticipate that Eagle Materials Inc will post 14.39 earnings per share for the current year.

Eagle Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Monday, June 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.50%. Eagle Materials's payout ratio is 7.27%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Stephens set a $255.00 target price on shares of Eagle Materials and gave the company an "overweight" rating in a research report on Thursday, May 22nd. Wall Street Zen downgraded Eagle Materials from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. Truist Financial dropped their price objective on Eagle Materials from $330.00 to $280.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. JPMorgan Chase & Co. decreased their target price on Eagle Materials from $310.00 to $250.00 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Finally, DA Davidson dropped their price target on shares of Eagle Materials from $260.00 to $245.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $254.44.

Eagle Materials 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.