BlackRock Inc. Invests $688.49 Million in Eagle Materials Inc $EXP

Key Points

• BlackRock acquired 3.06 million Eagle Materials shares worth approximately $688.5 million, giving it a 9.98% stake. Institutional investors collectively own 96.07% of the company.
• Eagle Materials reported quarterly EPS of $3.29, below the $3.37 analyst estimate, while revenue rose 2.6% year over year to $650.97 million and exceeded expectations.
• The company declared a quarterly dividend of $0.25 per share, or $1.00 annualized, yielding about 0.5%. Analysts maintain a consensus “Hold” rating with an average price target of $222.56.

BlackRock Inc. bought a new position in shares of Eagle Materials Inc (NYSE:EXP - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,059,938 shares of the construction company's stock, valued at approximately $688,486,000. BlackRock Inc. owned about 9.98% of Eagle Materials at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Baupost Group LLC MA raised its stake in shares of Eagle Materials by 26.1% during the 4th quarter. Baupost Group LLC MA now owns 1,185,248 shares of the construction company's stock valued at $244,967,000 after buying an additional 245,588 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Eagle Materials by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 627,427 shares of the construction company's stock worth $118,846,000 after buying an additional 16,782 shares in the last quarter. Black Creek Investment Management Inc. purchased a new stake in shares of Eagle Materials during the 4th quarter worth about $103,778,000. Norges Bank acquired a new stake in shares of Eagle Materials during the 4th quarter valued at about $90,147,000. Finally, Invesco Ltd. grew its position in shares of Eagle Materials by 4.6% during the 3rd quarter. Invesco Ltd. now owns 363,508 shares of the construction company's stock valued at $84,712,000 after acquiring an additional 15,899 shares during the period. 96.07% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Stock Performance

NYSE EXP opened at $207.15 on Monday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.91 and a current ratio of 3.23. The stock's fifty day moving average is $213.74 and its two-hundred day moving average is $209.15. The firm has a market capitalization of $6.35 billion, a P/E ratio of 16.38 and a beta of 1.39. Eagle Materials Inc has a fifty-two week low of $171.99 and a fifty-two week high of $245.53.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its earnings results on Wednesday, July 29th. The construction company reported $3.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.37 by ($0.08). Eagle Materials had a return on equity of 26.87% and a net margin of 17.32%.The company had revenue of $650.97 million during the quarter, compared to analyst estimates of $620.35 million. During the same period last year, the business earned $3.76 earnings per share. The firm's revenue was up 2.6% compared to the same quarter last year. On average, research analysts anticipate that Eagle Materials Inc will post 12.66 earnings per share for the current year.

Eagle Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Monday, September 14th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, September 14th. Eagle Materials's dividend payout ratio (DPR) is presently 7.91%.

Analyst Ratings Changes

EXP has been the subject of a number of analyst reports. Stephens upped their price target on Eagle Materials from $225.00 to $230.00 and gave the stock an "equal weight" rating in a report on Thursday, July 30th. Zacks Research lowered shares of Eagle Materials from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Royal Bank Of Canada upped their price objective on shares of Eagle Materials from $208.00 to $219.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 20th. Citigroup decreased their price objective on shares of Eagle Materials from $240.00 to $232.00 and set a "neutral" rating on the stock in a report on Monday, August 10th. Finally, Wall Street Zen upgraded Eagle Materials from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, Eagle Materials currently has a consensus rating of "Hold" and a consensus price target of $222.56.

About Eagle Materials

Eagle Materials Inc NYSE: EXP is a Dallas, Texas–based manufacturer of building materials serving construction and heavy industry markets across the United States. The company's primary products include portland and masonry cements, gypsum wallboard, lightweight aggregate, paperboard packaging, and roofing granules. These product lines support a wide range of end uses—from residential and commercial buildings to infrastructure projects and industrial applications.

Since its spin-off from a major homebuilding company in 2004, Eagle Materials has grown through targeted facility expansions and strategic acquisitions.

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