Caisse de depot et placement du Quebec Invests $1.60 Million in Eagle Materials Inc $EXP

Key Points

• Caisse de dépôt et placement du Québec acquired 7,100 Eagle Materials shares worth approximately $1.60 million in the second quarter. Institutional investors collectively own 96.07% of the company, with several major funds also initiating sizable positions.
• Eagle Materials reported quarterly revenue of $650.97 million, up 2.6% year over year and above estimates, but earnings per share of $3.29 fell short of the $3.37 consensus. The stock opened at $197.88, below its 50-day and 200-day moving averages.
• The company declared a quarterly dividend of $0.25 per share, equivalent to a $1.00 annualized payout and a 0.5% yield. Analysts maintain a broadly neutral view, with one Buy rating and nine Holds and an average price target of $223.67.

Caisse de depot et placement du Quebec acquired a new stake in Eagle Materials Inc (NYSE:EXP - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,100 shares of the construction company's stock, valued at approximately $1,598,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Eagle Materials in the second quarter valued at approximately $688,486,000. W1M Asset Management Ltd acquired a new stake in Eagle Materials during the second quarter worth approximately $155,199,000. William Blair Investment Management LLC purchased a new stake in shares of Eagle Materials during the 2nd quarter worth approximately $129,760,000. Black Creek Investment Management Inc. acquired a new position in shares of Eagle Materials in the 4th quarter valued at $103,778,000. Finally, Norges Bank acquired a new position in shares of Eagle Materials in the 4th quarter valued at $90,147,000. Institutional investors and hedge funds own 96.07% of the company's stock.

Insider Buying and Selling

In other Eagle Materials news, SVP Tony Thompson sold 3,074 shares of the company's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $203.96, for a total transaction of $626,973.04. Following the completion of the sale, the senior vice president directly owned 10,142 shares of the company's stock, valued at $2,068,562.32. This represents a 23.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Eagle Materials Trading Up 0.1%

Shares of Eagle Materials stock opened at $197.88 on Friday. Eagle Materials Inc has a 1 year low of $171.99 and a 1 year high of $245.53. 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 company has a market capitalization of $6.07 billion, a P/E ratio of 15.64 and a beta of 1.38. The company's fifty day moving average is $211.72 and its two-hundred day moving average is $208.40.

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

Eagle Materials Announces Dividend

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

Analyst Ratings Changes

EXP has been the topic of a number of recent analyst reports. DA Davidson began coverage on shares of Eagle Materials in a research report on Monday, August 24th. They issued a "neutral" rating and a $220.00 target price on the stock. JPMorgan Chase & Co. upgraded shares of Eagle Materials from an "underweight" rating to a "neutral" rating and set a $225.00 price objective for the company in a research note on Tuesday, June 2nd. Citigroup cut their target price on Eagle Materials from $240.00 to $232.00 and set a "neutral" rating on the stock in a research report on Monday, August 10th. Wells Fargo & Company reduced their target price on Eagle Materials from $240.00 to $231.00 and set an "overweight" rating for the company in a report on Thursday, July 30th. Finally, Jefferies Financial Group restated a "hold" rating and set a $200.00 price target on shares of Eagle Materials in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Eagle Materials has an average rating of "Hold" and an average target price of $223.67.

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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