Gradient Investments LLC Acquires Shares of 6,017 Eagle Materials Inc $EXP

Key Points

• Gradient Investments LLC acquired 6,017 shares of Eagle Materials Inc valued at approximately $1.2 million during the 2nd quarter.
• Institutional investors currently own 96.07% of Eagle Materials' stock, indicating strong insider confidence in the company's performance.
• Eagle Materials reported $3.76 EPS for the last quarter, exceeding analysts' expectations and reflecting a revenue of $634.69 million.

Gradient Investments LLC acquired a new stake in Eagle Materials Inc (NYSE:EXP - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 6,017 shares of the construction company's stock, valued at approximately $1,216,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. grew its position in shares of Eagle Materials by 106.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,479 shares of the construction company's stock worth $365,000 after buying an additional 23,815 shares during the period. Focus Partners Wealth acquired a new stake in shares of Eagle Materials during the 4th quarter worth approximately $415,000. Millennium Management LLC grew its position in shares of Eagle Materials by 18.9% during the 4th quarter. Millennium Management LLC now owns 5,163 shares of the construction company's stock worth $1,274,000 after buying an additional 821 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of Eagle Materials during the 4th quarter worth approximately $1,098,000. Finally, Quantinno Capital Management LP grew its position in shares of Eagle Materials by 126.9% during the 4th quarter. Quantinno Capital Management LP now owns 1,813 shares of the construction company's stock worth $448,000 after buying an additional 1,014 shares during the period. Institutional investors and hedge funds own 96.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Eagle Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Stifel Nicolaus set a $241.00 price target on shares of Eagle Materials and gave the stock a "hold" rating in a research report on Wednesday, May 21st. The Goldman Sachs Group set a $242.00 price target on shares of Eagle Materials and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Stephens set a $255.00 price objective on shares of Eagle Materials and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Finally, Citigroup reduced their price objective on shares of Eagle Materials from $279.00 to $230.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Eagle Materials currently has an average rating of "Hold" and an average price target of $254.78.

Eagle Materials Price Performance

NYSE EXP opened at $235.04 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 2.73 and a debt-to-equity ratio of 0.87. Eagle Materials Inc has a 12-month low of $191.91 and a 12-month high of $321.93. The company has a market capitalization of $7.63 billion, a PE ratio of 17.31 and a beta of 1.28. The firm's 50 day moving average is $227.07 and its 200-day moving average is $219.76.

Eagle Materials (NYSE:EXP - Get Free Report) last posted its quarterly earnings data 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. Eagle Materials had a net margin of 19.81% and a return on equity of 31.21%. The company had revenue of $634.69 million for the quarter, compared to the consensus estimate of $611.52 million. Equities research analysts anticipate that Eagle Materials Inc will post 14.39 earnings per share 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. Stockholders of record on Monday, September 15th will be issued a $0.25 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.4%. Eagle Materials's dividend payout ratio (DPR) is 7.36%.

Eagle Materials 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.

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