Perennial Advisors LLC Makes New $1.15 Million Investment in Eagle Materials Inc. (NYSE:EXP)

Perennial Advisors LLC purchased a new position in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,168 shares of the construction company's stock, valued at approximately $1,147,000.

Other institutional investors have also recently made changes to their positions in the company. Reinhart Partners LLC. raised its stake in shares of Eagle Materials by 26.6% in the 1st quarter. Reinhart Partners LLC. now owns 39,520 shares of the construction company's stock valued at $8,771,000 after acquiring an additional 8,305 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Eagle Materials by 10.2% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,871 shares of the construction company's stock worth $859,000 after purchasing an additional 359 shares in the last quarter. RFG Advisory LLC lifted its stake in Eagle Materials by 19.6% during the first quarter. RFG Advisory LLC now owns 10,351 shares of the construction company's stock worth $2,297,000 after purchasing an additional 1,695 shares in the last quarter. Fulton Bank N.A. purchased a new position in shares of Eagle Materials during the first quarter worth $227,000. Finally, Harbor Investment Advisory LLC boosted its holdings in Eagle Materials by 19.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 499 shares of the construction company's stock valued at $111,000 after acquiring an additional 81 shares during the period. Hedge funds and other institutional investors own 96.07% of the company's stock.

Wall Street Analysts Forecast Growth

EXP has been the topic of several research reports. Loop Capital reduced their price target on shares of Eagle Materials from $245.00 to $237.00 and set a "hold" rating on the stock in a research report on Wednesday, May 21st. DA Davidson decreased their price target on shares of Eagle Materials from $260.00 to $245.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Citigroup cut their price objective on Eagle Materials from $279.00 to $230.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Wall Street Zen lowered Eagle Materials from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Finally, Truist Financial decreased their target price on Eagle Materials from $330.00 to $280.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Eagle Materials presently has a consensus rating of "Hold" and an average price target of $254.44.

Eagle Materials Trading Down 2.9%

EXP stock traded down $5.83 during midday trading on Wednesday, hitting $197.72. The stock had a trading volume of 340,185 shares, compared to its average volume of 347,110. Eagle Materials Inc. has a 12-month low of $195.80 and a 12-month high of $321.93. The company's 50-day moving average price is $218.75 and its 200 day moving average price is $238.39. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.76 and a quick ratio of 1.01. The firm has a market cap of $6.47 billion, a PE ratio of 14.12 and a beta of 1.28.

Eagle Materials (NYSE:EXP - Get Free Report) last released its earnings results on Tuesday, May 20th. The construction company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.26). The business had revenue of $470.18 million for the quarter, compared to analysts' expectations of $483.14 million. Eagle Materials had a return on equity of 34.14% and a net margin of 20.91%. The business's quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.24 earnings per share. On average, equities 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 declared a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Monday, June 16th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.51%. The ex-dividend date is Monday, June 16th. Eagle Materials's dividend payout ratio (DPR) is 7.27%.

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.