Covea Finance Purchases 2,000 Shares of Eagle Materials Inc (NYSE:EXP)

Covea Finance increased its position in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 16.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,000 shares of the construction company's stock after acquiring an additional 2,000 shares during the period. Covea Finance's holdings in Eagle Materials were worth $3,107,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of Eagle Materials by 3.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,801,532 shares of the construction company's stock worth $444,546,000 after purchasing an additional 66,399 shares during the period. Geode Capital Management LLC grew its position in Eagle Materials by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 722,995 shares of the construction company's stock worth $178,450,000 after buying an additional 15,388 shares in the last quarter. Baupost Group LLC MA increased its stake in Eagle Materials by 27.6% in the 4th quarter. Baupost Group LLC MA now owns 638,223 shares of the construction company's stock worth $157,488,000 after acquiring an additional 137,950 shares during the last quarter. Federated Hermes Inc. increased its stake in Eagle Materials by 10.3% in the 4th quarter. Federated Hermes Inc. now owns 594,899 shares of the construction company's stock worth $146,797,000 after acquiring an additional 55,578 shares during the last quarter. Finally, Epoch Investment Partners Inc. raised its holdings in shares of Eagle Materials by 2.4% in the 4th quarter. Epoch Investment Partners Inc. now owns 592,069 shares of the construction company's stock valued at $146,099,000 after acquiring an additional 13,988 shares in the last quarter. Institutional investors own 96.07% of the company's stock.

Eagle Materials Trading Up 2.2%

NYSE:EXP traded up $4.33 during trading hours on Tuesday, reaching $205.83. The company's stock had a trading volume of 417,452 shares, compared to its average volume of 348,822. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.03 and a current ratio of 2.73. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of 14.96 and a beta of 1.28. The firm has a 50-day simple moving average of $215.12 and a 200-day simple moving average of $231.14. Eagle Materials Inc has a 1 year low of $191.91 and a 1 year high of $321.93.

Eagle Materials (NYSE:EXP - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The construction company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.26). Eagle Materials had a return on equity of 32.71% and a net margin of 20.50%. The company had revenue of $470.18 million during the quarter, compared to analysts' expectations of $483.14 million. During the same quarter in the prior year, the firm posted $2.24 EPS. The firm's quarterly revenue was down 1.4% on a year-over-year basis. Research analysts expect that Eagle Materials Inc will post 14.39 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Monday, June 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.00 annualized dividend and a yield of 0.49%. Eagle Materials's payout ratio is currently 7.27%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Truist Financial cut their price objective on Eagle Materials from $330.00 to $280.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Stephens set a $255.00 price target on shares of Eagle Materials and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Stifel Nicolaus set a $241.00 price target on shares of Eagle Materials and gave the stock a "hold" rating in a report on Wednesday, May 21st. Citigroup lowered their price objective 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. Finally, Wall Street Zen lowered shares of Eagle Materials from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Eagle Materials has an average rating of "Hold" and an average target price of $254.44.

About Eagle Materials

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.