Eagle Materials Inc $EXP Shares Purchased by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC increased its stake in Eagle Materials Inc by 33.8%, now holding approximately 0.22% of the company worth around $15.92 million.
• Eagle Materials reported earnings of $3.76 EPS for the last quarter, slightly above analysts' estimates, with revenue of $634.69 million, also surpassing expectations.
• The company announced a quarterly dividend of $0.25 to be paid on October 16th, representing an annual dividend yield of 0.4%.

AQR Capital Management LLC grew its stake in Eagle Materials Inc (NYSE:EXP - Free Report) by 33.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,931 shares of the construction company's stock after acquiring an additional 18,673 shares during the period. AQR Capital Management LLC owned 0.22% of Eagle Materials worth $15,923,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Bridges Investment Management Inc. grew its stake in Eagle Materials by 111.4% in the 1st quarter. Bridges Investment Management Inc. now owns 6,918 shares of the construction company's stock worth $1,535,000 after acquiring an additional 3,645 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Eagle Materials by 234.6% in the 1st quarter. Teacher Retirement System of Texas now owns 4,905 shares of the construction company's stock worth $1,089,000 after acquiring an additional 3,439 shares in the last quarter. Hi Line Capital Management LLC purchased a new stake in shares of Eagle Materials in the 1st quarter worth approximately $4,770,000. GAMMA Investing LLC lifted its position in shares of Eagle Materials by 21.2% in the 1st quarter. GAMMA Investing LLC now owns 819 shares of the construction company's stock worth $182,000 after purchasing an additional 143 shares during the period. Finally, Private Trust Co. NA lifted its position in shares of Eagle Materials by 39.0% in the 1st quarter. Private Trust Co. NA now owns 285 shares of the construction company's stock worth $63,000 after purchasing an additional 80 shares during the period. 96.07% of the stock is currently owned by institutional investors.

Eagle Materials Trading Up 1.1%

Shares of Eagle Materials stock traded up $2.55 on Monday, reaching $235.53. The company had a trading volume of 12,800 shares, compared to its average volume of 390,967. The firm's 50 day moving average price is $226.61 and its two-hundred day moving average price is $219.70. The firm has a market cap of $7.64 billion, a PE ratio of 17.32 and a beta of 1.28. Eagle Materials Inc has a 52-week low of $191.91 and a 52-week high of $321.93. 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 (EPS) for the quarter, beating analysts' consensus estimates of $3.73 by $0.03. The business had revenue of $634.69 million for the quarter, compared to the consensus estimate of $611.52 million. Eagle Materials had a net margin of 19.81% and a return on equity of 31.21%. Sell-side analysts predict that Eagle Materials Inc will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Monday, September 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Eagle Materials's payout ratio is 7.36%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. 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 research report on Wednesday, May 28th. Stephens set a $255.00 price target on shares of Eagle Materials and gave the stock an "overweight" rating in a report on Thursday, May 22nd. DA Davidson decreased their price target on shares of Eagle Materials from $260.00 to $245.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. The Goldman Sachs Group set a $242.00 price target on shares of Eagle Materials and gave the stock a "buy" rating in a report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Eagle Materials from $220.00 to $245.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 26th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $254.78.

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.