Eagle Materials Inc $EXP Shares Acquired by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management increased its stake in Eagle Materials (NYSE:EXP) by 56.1%, buying 26,951 shares to hold 74,990 shares valued at about $15.5 million (≈0.23% ownership).
• Institutional ownership is very high (96.07%); notable moves include Baupost Group owning 939,660 shares (~$219 million) after a 39% increase, underscoring large institutional concentration.
• Wall Street consensus is a "Hold" with a target price of $228.82; Eagle Materials recently missed quarterly EPS ($3.22 vs. $3.32) and is trading near $211 with a PE of ~16 and a 0.5% dividend yield.

Pictet Asset Management Holding SA grew its stake in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 56.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,990 shares of the construction company's stock after purchasing an additional 26,951 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.23% of Eagle Materials worth $15,499,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Baupost Group LLC MA increased its stake in shares of Eagle Materials by 39.0% in the third quarter. Baupost Group LLC MA now owns 939,660 shares of the construction company's stock valued at $218,978,000 after purchasing an additional 263,403 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Eagle Materials in the 3rd quarter worth $51,812,000. Bank of New York Mellon Corp lifted its holdings in Eagle Materials by 61.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 500,474 shares of the construction company's stock valued at $116,630,000 after acquiring an additional 189,725 shares during the last quarter. Cartenna Capital LP acquired a new stake in Eagle Materials during the third quarter valued at approximately $29,480,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of Eagle Materials by 56.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 227,869 shares of the construction company's stock worth $46,047,000 after acquiring an additional 82,679 shares in the last quarter. Institutional investors and hedge funds own 96.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $215.00 target price (down from $230.00) on shares of Eagle Materials in a report on Monday, February 16th. Stephens reaffirmed an "equal weight" rating and issued a $245.00 target price on shares of Eagle Materials in a research report on Tuesday, January 20th. Royal Bank Of Canada set a $208.00 price target on shares of Eagle Materials in a report on Tuesday, February 24th. Citigroup reduced their target price on Eagle Materials from $232.00 to $224.00 and set a "neutral" rating for the company in a report on Tuesday, February 3rd. Finally, DA Davidson decreased their price target on shares of Eagle Materials from $225.00 to $210.00 and set a "neutral" rating for the company in a report on Monday, February 2nd. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $228.82.

Eagle Materials Trading Up 0.5%

Shares of Eagle Materials stock opened at $211.19 on Friday. Eagle Materials Inc has a 52-week low of $171.99 and a 52-week high of $243.64. The firm has a market capitalization of $6.64 billion, a PE ratio of 15.99 and a beta of 1.38. The company's fifty day moving average price is $199.25 and its two-hundred day moving average price is $213.49. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.27 and a quick ratio of 2.68.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its earnings results on Thursday, January 29th. The construction company reported $3.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.32 by ($0.10). Eagle Materials had a return on equity of 28.96% and a net margin of 18.70%.The company had revenue of $555.96 million during the quarter, compared to analyst estimates of $556.41 million. During the same period in the previous year, the company posted $3.59 earnings per share. The company's quarterly revenue was down .4% on a year-over-year basis. On average, analysts expect that Eagle Materials Inc will post 12.72 EPS for the current year.

Eagle Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 13th. Shareholders of record on Monday, March 16th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $1.00 annualized dividend and a yield of 0.5%. Eagle Materials's dividend payout ratio is currently 7.57%.

About Eagle Materials

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.

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).

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.