Envestnet Asset Management Inc. Grows Stake in Eagle Materials Inc (NYSE:EXP)

Envestnet Asset Management Inc. raised its position in Eagle Materials Inc (NYSE:EXP - Free Report) by 10.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,328 shares of the construction company's stock after buying an additional 9,045 shares during the quarter. Envestnet Asset Management Inc. owned 0.28% of Eagle Materials worth $20,490,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EXP. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Eagle Materials by 4.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,222 shares of the construction company's stock worth $1,535,000 after purchasing an additional 237 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of Eagle Materials by 18.5% during the 4th quarter. HighTower Advisors LLC now owns 3,420 shares of the construction company's stock worth $844,000 after purchasing an additional 533 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Eagle Materials during the 4th quarter worth $952,000. Xponance Inc. grew its holdings in shares of Eagle Materials by 2.8% during the 4th quarter. Xponance Inc. now owns 6,045 shares of the construction company's stock worth $1,492,000 after purchasing an additional 162 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its position in shares of Eagle Materials by 78.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,252 shares of the construction company's stock worth $309,000 after buying an additional 549 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EXP. Stephens set a $255.00 price target on Eagle Materials and gave the company an "overweight" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group set a $242.00 target price on Eagle Materials and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Loop Capital decreased their target price on Eagle Materials from $245.00 to $237.00 and set a "hold" rating for the company in a research note on Wednesday, May 21st. DA Davidson decreased their target price on Eagle Materials from $260.00 to $245.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Finally, Wall Street Zen cut Eagle Materials from a "hold" rating to a "sell" rating in a research note on Sunday, July 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $254.44.

Eagle Materials Price Performance

Shares of EXP traded down $0.84 during midday trading on Friday, reaching $215.16. The stock had a trading volume of 253,445 shares, compared to its average volume of 353,552. The company's 50-day moving average is $211.25 and its 200 day moving average is $225.16. Eagle Materials Inc has a 12-month low of $191.91 and a 12-month high of $321.93. The company has a current ratio of 2.73, a quick ratio of 1.03 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of 15.64 and a beta of 1.26.

Eagle Materials (NYSE:EXP - Get Free Report) last released its earnings results on Tuesday, May 20th. The construction company reported $2.08 earnings per share for the quarter, missing analysts' consensus estimates of $2.34 by ($0.26). The company had revenue of $470.18 million during the quarter, compared to the consensus estimate of $483.14 million. Eagle Materials had a net margin of 20.50% and a return on equity of 32.71%. The company's revenue was down 1.4% on a year-over-year basis. During the same period last year, the firm posted $2.24 EPS. On average, equities 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, July 24th. Investors of record on Monday, June 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, June 16th. Eagle Materials's dividend payout ratio (DPR) is presently 7.27%.

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.