Eagle Materials Inc $EXP Shares Bought by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC significantly increased its stake in Eagle Materials Inc by 1,822.3% in the second quarter, acquiring a total of 44,193 shares valued at approximately $8.93 million.
• Equities analysts have a consensus rating of "Hold" for Eagle Materials, with a target price raised to $245.00 by multiple firms, including JPMorgan Chase & Co.
• Eagle Materials announced a quarterly dividend of $0.25 per share, scheduled for payment on October 16, resulting in an annualized yield of 0.4%.

Janney Montgomery Scott LLC raised its stake in Eagle Materials Inc (NYSE:EXP - Free Report) by 1,822.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,193 shares of the construction company's stock after acquiring an additional 41,894 shares during the period. Janney Montgomery Scott LLC owned 0.14% of Eagle Materials worth $8,932,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EXP. JPMorgan Chase & Co. boosted its stake in Eagle Materials by 18.8% in the first quarter. JPMorgan Chase & Co. now owns 2,140,621 shares of the construction company's stock valued at $475,068,000 after acquiring an additional 339,089 shares during the period. Baupost Group LLC MA boosted its stake in Eagle Materials by 42.5% in the first quarter. Baupost Group LLC MA now owns 909,633 shares of the construction company's stock valued at $201,875,000 after acquiring an additional 271,410 shares during the period. American Century Companies Inc. boosted its stake in Eagle Materials by 193.4% in the first quarter. American Century Companies Inc. now owns 288,123 shares of the construction company's stock valued at $63,944,000 after acquiring an additional 189,909 shares during the period. Victory Capital Management Inc. boosted its stake in Eagle Materials by 111.1% in the first quarter. Victory Capital Management Inc. now owns 331,081 shares of the construction company's stock valued at $73,477,000 after acquiring an additional 174,241 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Eagle Materials by 165.0% in the first quarter. Principal Financial Group Inc. now owns 206,019 shares of the construction company's stock valued at $45,722,000 after acquiring an additional 128,271 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Loop Capital lifted their target price on Eagle Materials from $230.00 to $245.00 and gave the company a "hold" rating in a research note on Wednesday, July 30th. Wall Street Zen upgraded Eagle Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Eagle Materials in a research report on Saturday, September 27th. Finally, JPMorgan Chase & Co. boosted their price objective on Eagle Materials from $220.00 to $245.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 26th. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $254.78.

Eagle Materials Stock Performance

EXP opened at $234.51 on Friday. The company has a market capitalization of $7.61 billion, a price-to-earnings ratio of 17.27 and a beta of 1.31. Eagle Materials Inc has a 1-year low of $191.91 and a 1-year high of $321.93. The business has a 50 day moving average price of $230.67 and a two-hundred day moving average price of $221.32. 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 announced its quarterly earnings data on Tuesday, July 29th. The construction company reported $3.76 EPS for the quarter, beating analysts' consensus estimates of $3.73 by $0.03. Eagle Materials had a return on equity of 31.21% and a net margin of 19.81%.The company had revenue of $634.69 million during the quarter, compared to the consensus estimate of $611.52 million. Research analysts predict that Eagle Materials Inc will post 14.39 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Monday, September 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, September 15th. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.