Perennial Advisors LLC Takes $1.15 Million Position in Eagle Materials Inc. (NYSE:EXP)

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

Other institutional investors also recently made changes to their positions in the company. Private Trust Co. NA lifted its position in shares of Eagle Materials by 53.0% during the fourth quarter. Private Trust Co. NA now owns 205 shares of the construction company's stock worth $51,000 after purchasing an additional 71 shares during the last quarter. Parallel Advisors LLC raised its stake in Eagle Materials by 26.8% during the first quarter. Parallel Advisors LLC now owns 246 shares of the construction company's stock valued at $55,000 after buying an additional 52 shares in the last quarter. Huntington National Bank lifted its holdings in Eagle Materials by 154.8% during the 4th quarter. Huntington National Bank now owns 237 shares of the construction company's stock worth $58,000 after buying an additional 144 shares during the last quarter. LGT Financial Advisors LLC lifted its holdings in 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 buying an additional 310 shares during the last quarter. Finally, Harbor Investment Advisory LLC increased its holdings in shares of Eagle Materials by 19.4% in 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 last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on EXP. Loop Capital reduced their price objective on Eagle Materials from $245.00 to $237.00 and set a "hold" rating on the stock in a research note on Wednesday, May 21st. Truist Financial reduced their price target on shares of Eagle Materials from $330.00 to $280.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Wall Street Zen lowered shares of Eagle Materials from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Stephens set a $255.00 price objective on shares of Eagle Materials and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Finally, 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 note on Wednesday, May 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Eagle Materials has a consensus rating of "Hold" and an average target price of $254.44.

Eagle Materials Stock Performance

Shares of NYSE:EXP traded up $1.50 during trading hours on Monday, hitting $201.83. The stock had a trading volume of 419,300 shares, compared to its average volume of 346,248. The stock's fifty day simple moving average is $219.93 and its 200 day simple moving average is $239.42. The firm has a market capitalization of $6.60 billion, a price-to-earnings ratio of 14.42 and a beta of 1.28. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 2.76. Eagle Materials Inc. has a 1-year low of $195.80 and a 1-year high of $321.93.

Eagle Materials (NYSE:EXP - Get Free Report) last posted its 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). Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. The business had revenue of $470.18 million during the quarter, compared to analyst estimates of $483.14 million. During the same quarter in the prior year, the business earned $2.24 earnings per share. The firm's revenue was down 1.4% compared to the same quarter last year. Sell-side analysts anticipate that Eagle Materials Inc. will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

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

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.