Eagle Materials Inc $EXP Shares Acquired by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors increased its Eagle Materials position by 28.5% in the third quarter, acquiring 36,642 additional shares and bringing its ownership to 165,382 shares, or 0.54% of the company.
• Eagle Materials reported quarterly revenue of $650.97 million, up 2.6% year over year and above estimates, but EPS of $3.29 missed consensus by $0.08. The stock opened at $170.61, near its one-year low, while institutional investors collectively own 96.07% of shares.
• Analysts have generally maintained a “Hold” view and lowered price targets, resulting in a consensus target of $199.56. The company also declared a $0.25 quarterly dividend, equivalent to a 0.6% annual yield.

Fort Washington Investment Advisors Inc. OH boosted its position in Eagle Materials Inc (NYSE:EXP - Free Report) by 28.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 165,382 shares of the construction company's stock after acquiring an additional 36,642 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned 0.54% of Eagle Materials worth $28,284,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in EXP. Leonteq Securities AG acquired a new stake in Eagle Materials during the first quarter worth about $42,000. IFP Advisors Inc lifted its stake in shares of Eagle Materials by 131.0% in the 2nd quarter. IFP Advisors Inc now owns 432 shares of the construction company's stock valued at $97,000 after purchasing an additional 245 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Eagle Materials during the 2nd quarter worth about $117,000. Global Retirement Partners LLC purchased a new stake in shares of Eagle Materials during the 2nd quarter worth about $124,000. Finally, Hilltop National Bank increased its position in Eagle Materials by 38.3% during the 2nd quarter. Hilltop National Bank now owns 589 shares of the construction company's stock worth $133,000 after purchasing an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company's stock.

Insiders Place Their Bets

In other Eagle Materials news, SVP Tony Thompson sold 3,074 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were 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 owned 10,142 shares of the company's stock, valued at $2,068,562.32. This trade represents a 23.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Eagle Materials Price Performance

Shares of NYSE EXP opened at $170.61 on Friday. Eagle Materials Inc has a 1-year low of $160.02 and a 1-year high of $245.53. The business has a 50-day moving average of $187.22 and a 200-day moving average of $201.36. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.23 and a quick ratio of 1.91. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 13.49 and a beta of 1.33.

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

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 13th. Shareholders of record on Monday, September 14th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, September 14th. Eagle Materials's dividend payout ratio is currently 7.91%.

Analysts Set New Price Targets

A number of brokerages have weighed in on EXP. Citigroup reduced their price target on shares of Eagle Materials from $232.00 to $190.00 and set a "neutral" rating on the stock in a research report on Friday, October 2nd. Zacks Research downgraded shares of Eagle Materials from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Royal Bank Of Canada dropped their price objective on shares of Eagle Materials from $219.00 to $170.00 and set a "sector perform" rating for the company in a research report on Friday, October 9th. Truist Financial dropped their price objective on shares of Eagle Materials from $210.00 to $165.00 and set a "hold" rating for the company in a research report on Thursday, October 8th. Finally, DA Davidson cut their target price on shares of Eagle Materials from $220.00 to $207.00 and set a "neutral" rating on the stock in a research note on Monday, September 14th. Ten equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $199.56.

Eagle Materials Profile

Eagle Materials Inc NYSE: EXP is a Dallas-based manufacturer of basic building materials used in residential, commercial and infrastructure construction. Its primary products include Portland cement, ready-mixed concrete, aggregates, gypsum wallboard and gypsum paperboard.

The company operates through businesses focused on cement, concrete and aggregates, and gypsum wallboard and paperboard. Its materials are sold primarily in the United States, with production and distribution operations serving markets across several regions, including the central, southern and southwestern parts of the country.

Eagle Materials traces its origins to the construction-materials operations formerly associated with Centex Corporation and became an independent, publicly traded company in 1994.

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.