Deutsche Bank AG bought a new position in Eagle Materials Inc (NYSE:EXP - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,137 shares of the construction company's stock, valued at approximately $2,506,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fifth Third Bancorp raised its holdings in Eagle Materials by 5,116.3% in the 1st quarter. Fifth Third Bancorp now owns 25,612 shares of the construction company's stock worth $4,852,000 after acquiring an additional 25,121 shares during the last quarter. Black Creek Investment Management Inc. bought a new stake in shares of Eagle Materials in the 4th quarter worth $103,778,000. Sprucegrove Investment Management Ltd. raised its stake in shares of Eagle Materials by 1,671.4% in the fourth quarter. Sprucegrove Investment Management Ltd. now owns 12,400 shares of the construction company's stock worth $2,563,000 after purchasing an additional 11,700 shares during the last quarter. Redwood Investment Management LLC bought a new position in shares of Eagle Materials during the first quarter valued at $1,080,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Eagle Materials by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 627,427 shares of the construction company's stock valued at $118,846,000 after buying an additional 16,782 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors.
Eagle Materials Trading Down 1.2%
Eagle Materials stock opened at $197.68 on Friday. The firm has a 50 day moving average of $212.26 and a 200 day moving average of $208.47. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 15.63 and a beta of 1.38. Eagle Materials Inc has a 12-month low of $171.99 and a 12-month high of $245.53. 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 earnings per share for the quarter, missing analysts' consensus estimates of $3.37 by ($0.08). Eagle Materials had a return on equity of 26.87% and a net margin of 17.32%.The firm had revenue of $650.97 million during the quarter, compared to the consensus estimate of $620.35 million. During the same quarter in the previous year, the company earned $3.76 earnings per share. The business's revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, research analysts predict that Eagle Materials Inc will post 12.66 earnings per share for the current year.
Eagle Materials Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Monday, September 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, September 14th. Eagle Materials's payout ratio is presently 7.91%.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the stock. Citigroup decreased their target price on shares of Eagle Materials from $240.00 to $232.00 and set a "neutral" rating for the company in a research note on Monday, August 10th. Royal Bank Of Canada increased their target price on Eagle Materials from $208.00 to $219.00 and gave the company a "sector perform" rating in a report on Wednesday, May 20th. 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. Wells Fargo & Company reduced their price target on shares of Eagle Materials from $240.00 to $231.00 and set an "overweight" rating for the company in a research report on Thursday, July 30th. Finally, DA Davidson started coverage on shares of Eagle Materials in a report on Monday. They issued a "neutral" rating and a $220.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Eagle Materials presently has an average rating of "Hold" and a consensus target price of $223.67.
View Our Latest Research Report on Eagle Materials
Insider Buying and Selling at Eagle Materials
In related news, SVP Tony Thompson sold 3,074 shares of Eagle Materials 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 sale, the senior vice president owned 10,142 shares of the company's stock, valued at approximately $2,068,562.32. This trade represents a 23.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is currently owned by company insiders.
About Eagle Materials
(
Free Report)
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.
Further Reading
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).
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