Covea Finance Has $4.39 Million Stake in Eagle Materials Inc $EXP

Key Points

• Covea Finance increased its stake in Eagle Materials Inc by 55.0%, owning 21,700 shares worth approximately $4.39 million as of the end of the most recent quarter.
• Research analysts have mixed ratings for Eagle Materials, with JPMorgan Chase & Co. raising its price target to $245.00 and three analysts giving it a Buy rating.
• Eagle Materials announced a quarterly dividend of $0.25 per share, with a dividend yield of 0.4%, set to be paid on October 16th.

Covea Finance boosted its position in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 55.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,700 shares of the construction company's stock after buying an additional 7,700 shares during the period. Covea Finance owned approximately 0.07% of Eagle Materials worth $4,386,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. SVB Wealth LLC bought a new position in shares of Eagle Materials in the first quarter worth about $41,000. Parallel Advisors LLC lifted its holdings in shares of Eagle Materials by 26.8% in the first quarter. Parallel Advisors LLC now owns 246 shares of the construction company's stock worth $55,000 after acquiring an additional 52 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of Eagle Materials by 39.0% in the first quarter. Private Trust Co. NA now owns 285 shares of the construction company's stock worth $63,000 after acquiring an additional 80 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Eagle Materials by 486.6% in the first quarter. Assetmark Inc. now owns 393 shares of the construction company's stock worth $87,000 after acquiring an additional 326 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in Eagle Materials by 39.1% in the 1st quarter. Signaturefd LLC now owns 466 shares of the construction company's stock valued at $103,000 after buying an additional 131 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Eagle Materials from $220.00 to $245.00 and gave the company a "neutral" rating in a report on Tuesday, August 26th. Loop Capital raised their price target on shares of Eagle Materials from $230.00 to $245.00 and gave the stock a "hold" rating in a report on Wednesday, July 30th. Citigroup lowered their price target on shares of Eagle Materials from $279.00 to $230.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Finally, Wall Street Zen upgraded shares of Eagle Materials from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $254.78.

Eagle Materials Stock Down 1.3%

Eagle Materials stock opened at $228.33 on Tuesday. Eagle Materials Inc has a fifty-two week low of $191.91 and a fifty-two week high of $321.93. The stock has a market cap of $7.41 billion, a PE ratio of 16.81 and a beta of 1.28. The firm's 50-day simple moving average is $228.15 and its 200 day simple moving average is $220.26. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.26 and a current ratio of 2.73.

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

Eagle Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders 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 dividend yield of 0.4%. The ex-dividend date is Monday, September 15th. Eagle Materials's payout ratio is presently 7.36%.

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.

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