Cramer Rosenthal Mcglynn LLC Boosts Stake in Eagle Materials Inc $EXP

Key Points

• Cramer Rosenthal Mcglynn LLC increased its stake in Eagle Materials by 31%, holding approximately 112,096 shares valued at about $24.88 million.
• Eagle Materials reported $3.76 EPS in the latest quarter, exceeding analysts' estimates and generating a revenue of $634.69 million.
• The firm announced a quarterly dividend of $0.25 per share, to be paid on October 16th, reflecting a 0.4% dividend yield.

Cramer Rosenthal Mcglynn LLC lifted its holdings in Eagle Materials Inc (NYSE:EXP - Free Report) by 31.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 112,096 shares of the construction company's stock after acquiring an additional 26,523 shares during the quarter. Eagle Materials accounts for about 1.8% of Cramer Rosenthal Mcglynn LLC's holdings, making the stock its 21st biggest holding. Cramer Rosenthal Mcglynn LLC owned approximately 0.34% of Eagle Materials worth $24,877,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in EXP. Bridges Investment Management Inc. raised its holdings in Eagle Materials by 111.4% during the 1st quarter. Bridges Investment Management Inc. now owns 6,918 shares of the construction company's stock valued at $1,535,000 after buying an additional 3,645 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Eagle Materials by 234.6% during the first quarter. Teacher Retirement System of Texas now owns 4,905 shares of the construction company's stock valued at $1,089,000 after acquiring an additional 3,439 shares during the last quarter. Hi Line Capital Management LLC bought a new stake in shares of Eagle Materials in the first quarter worth about $4,770,000. GAMMA Investing LLC increased its holdings in Eagle Materials by 21.2% during the 1st quarter. GAMMA Investing LLC now owns 819 shares of the construction company's stock valued at $182,000 after purchasing an additional 143 shares during the period. Finally, Private Trust Co. NA raised its position in Eagle Materials by 39.0% during the 1st quarter. Private Trust Co. NA now owns 285 shares of the construction company's stock valued at $63,000 after purchasing an additional 80 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EXP has been the topic of a number of recent analyst reports. Stephens set a $255.00 price objective on Eagle Materials and gave the stock an "overweight" rating in a research report on Thursday, May 22nd. Citigroup dropped their price target on Eagle Materials from $279.00 to $230.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. The Goldman Sachs Group set a $242.00 price objective on shares of Eagle Materials and gave the company a "buy" rating in a research report on Wednesday, May 21st. Loop Capital raised their target price on shares of Eagle Materials from $230.00 to $245.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen upgraded shares of Eagle Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $254.78.

Eagle Materials Stock Down 2.1%

Eagle Materials stock traded down $4.91 during mid-day trading on Thursday, reaching $230.62. The stock had a trading volume of 250,997 shares, compared to its average volume of 330,333. The company has a market capitalization of $7.48 billion, a price-to-earnings ratio of 16.98 and a beta of 1.24. The company has a 50-day moving average price of $220.87 and a two-hundred day moving average price of $220.53. Eagle Materials Inc has a one year low of $191.91 and a one year high of $321.93. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.73 and a quick ratio of 1.26.

Eagle Materials (NYSE:EXP - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The construction company reported $3.76 earnings per share for the quarter, beating analysts' consensus estimates of $3.73 by $0.03. The business had revenue of $634.69 million during the quarter, compared to analyst estimates of $611.52 million. Eagle Materials had a net margin of 19.81% and a return on equity of 31.21%. On average, analysts expect that Eagle Materials Inc will post 14.39 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

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

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.