Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 21,816 Eagle Materials Inc (NYSE:EXP)

Key Points

• Connor Clark & Lunn Investment Management Ltd. has made a new investment in Eagle Materials Inc., acquiring approximately 21,816 shares valued at about $4.84 million.
• Several institutional investors have increased their stakes in Eagle Materials, with GAMMA Investing LLC raising its holdings by 26,787.7%, now owning 181,761 shares worth $40.34 million.
• Eagle Materials has recently declared a quarterly dividend of $0.25 per share, reflecting a 0.4% yield, with the payment date set for October 16th.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Eagle Materials Inc (NYSE:EXP - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 21,816 shares of the construction company's stock, valued at approximately $4,842,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of Eagle Materials as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Parallel Advisors LLC boosted its stake in shares of Eagle Materials by 26.8% in the 1st quarter. Parallel Advisors LLC now owns 246 shares of the construction company's stock valued at $55,000 after purchasing an additional 52 shares in the last quarter. Private Trust Co. NA boosted its position in Eagle Materials by 39.0% during the 1st quarter. Private Trust Co. NA now owns 285 shares of the construction company's stock worth $63,000 after buying an additional 80 shares during the period. Assetmark Inc. boosted its position in Eagle Materials by 486.6% during the 1st quarter. Assetmark Inc. now owns 393 shares of the construction company's stock worth $87,000 after buying an additional 326 shares during the period. Signaturefd LLC boosted its position in Eagle Materials by 39.1% during the 1st quarter. Signaturefd LLC now owns 466 shares of the construction company's stock worth $103,000 after buying an additional 131 shares during the period. Finally, LGT Financial Advisors LLC boosted its position 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 period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on EXP. Citigroup cut their target price on shares of Eagle Materials from $279.00 to $230.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Truist Financial cut their target price 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. Loop Capital lifted their target price on shares of Eagle Materials from $230.00 to $245.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. DA Davidson cut their target price on shares of Eagle Materials from $260.00 to $245.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Finally, The Goldman Sachs Group set a $242.00 target price on shares of Eagle Materials and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $255.33.

Eagle Materials Stock Down 0.5%

Shares of Eagle Materials stock traded down $1.14 during trading on Friday, reaching $233.70. 264,333 shares of the company traded hands, compared to its average volume of 417,683. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.73 and a quick ratio of 1.26. Eagle Materials Inc has a 1-year low of $191.91 and a 1-year high of $321.93. The company has a 50 day moving average price of $214.62 and a 200-day moving average price of $221.73. The firm has a market capitalization of $7.58 billion, a PE ratio of 17.21 and a beta of 1.24.

Eagle Materials (NYSE:EXP - Get Free Report) last released its earnings results on Tuesday, July 29th. The construction company reported $3.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.73 by $0.03. Eagle Materials had a net margin of 19.81% and a return on equity of 31.21%. The company had revenue of $634.69 million for the quarter, compared to the consensus estimate of $611.52 million. As a group, equities research analysts expect that Eagle Materials Inc will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, September 15th. Eagle Materials's payout ratio is 7.36%.

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.