Canada Pension Plan Investment Board Invests $1.37 Million in Eagle Materials Inc $EXP

Key Points

• Canada Pension Plan Investment Board acquired 6,100 Eagle Materials shares worth approximately $1.37 million, while institutional investors collectively own 96.07% of the company.
• Eagle Materials reported quarterly revenue of $650.97 million, exceeding estimates, but earnings of $3.29 per share fell short of consensus by $0.08; revenue increased 2.6% year over year.
• The stock opened at $194.15, below its 50-day and 200-day moving averages, and analysts maintain a consensus “Hold” rating with an average price target of $223.67. The company also declared a quarterly dividend of $0.25 per share.

Canada Pension Plan Investment Board acquired a new position in shares of Eagle Materials Inc (NYSE:EXP - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,100 shares of the construction company's stock, valued at approximately $1,372,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Clearstead Advisors LLC raised its position in Eagle Materials by 266.7% during the fourth quarter. Clearstead Advisors LLC now owns 132 shares of the construction company's stock valued at $27,000 after purchasing an additional 96 shares during the period. IFP Advisors Inc boosted its holdings in shares of Eagle Materials by 389.3% in the 4th quarter. IFP Advisors Inc now owns 137 shares of the construction company's stock worth $28,000 after purchasing an additional 109 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Eagle Materials in the 4th quarter worth approximately $29,000. Measured Wealth Private Client Group LLC bought a new position in shares of Eagle Materials during the 3rd quarter valued at approximately $34,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Eagle Materials by 102.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company's stock valued at $35,000 after purchasing an additional 87 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Eagle Materials Stock Down 1.7%

NYSE:EXP opened at $194.15 on Tuesday. Eagle Materials Inc has a twelve month low of $171.99 and a twelve month high of $245.53. The company has a market cap of $5.95 billion, a price-to-earnings ratio of 15.35 and a beta of 1.39. The stock has a fifty day simple moving average of $211.14 and a 200-day simple moving average of $208.01. The company has a current ratio of 3.23, a quick ratio of 1.91 and a debt-to-equity ratio of 1.17.

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

Eagle Materials Announces Dividend

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 paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $1.00 annualized dividend and a yield of 0.5%. Eagle Materials's dividend payout ratio is 7.91%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EXP. Stephens increased their price target on Eagle Materials from $225.00 to $230.00 and gave the company 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 research note on Monday, July 27th. DA Davidson started coverage on shares of Eagle Materials in a research report on Monday, August 24th. They set a "neutral" rating and a $220.00 price objective on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Eagle Materials in a research note on Tuesday, June 16th. Finally, Jefferies Financial Group restated a "hold" rating and issued a $200.00 target price on shares of Eagle Materials in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Eagle Materials currently has a consensus rating of "Hold" and an average target price of $223.67.

Eagle Materials Profile

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.

Want to see what other hedge funds are holding EXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eagle Materials Inc (NYSE:EXP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source