Hodges Capital Management Inc. Has $24.92 Million Stock Holdings in Eagle Materials Inc $EXP

Key Points

• Hodges Capital Management Inc. reduced its stake in Eagle Materials Inc by 37.9% in the first quarter, holding 112,276 shares, which now represent approximately 2.5% of its total holdings.
• Eagle Materials reported a quarterly EPS of $3.76, surpassing analyst expectations and achieving a net margin of 19.81% with revenues of $634.69 million.
• The company announced a $0.25 quarterly dividend, with a payout ratio of 7.36% and an annualized dividend yield of 0.4%, payable on October 16th.

Hodges Capital Management Inc. trimmed its holdings in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 37.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,276 shares of the construction company's stock after selling 68,544 shares during the period. Eagle Materials comprises 2.5% of Hodges Capital Management Inc.'s investment portfolio, making the stock its 4th largest position. Hodges Capital Management Inc. owned 0.34% of Eagle Materials worth $24,917,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Eagle Materials by 18.8% during the first quarter. JPMorgan Chase & Co. now owns 2,140,621 shares of the construction company's stock valued at $475,068,000 after purchasing an additional 339,089 shares during the period. Baupost Group LLC MA increased its stake in shares of Eagle Materials by 42.5% in the first quarter. Baupost Group LLC MA now owns 909,633 shares of the construction company's stock worth $201,875,000 after buying an additional 271,410 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Eagle Materials by 10.4% in the first quarter. Dimensional Fund Advisors LP now owns 576,249 shares of the construction company's stock worth $127,876,000 after buying an additional 54,324 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Eagle Materials by 111.1% in the first quarter. Victory Capital Management Inc. now owns 331,081 shares of the construction company's stock worth $73,477,000 after buying an additional 174,241 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Eagle Materials by 193.4% in the first quarter. American Century Companies Inc. now owns 288,123 shares of the construction company's stock worth $63,944,000 after buying an additional 189,909 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on EXP. Stephens set a $255.00 target price on shares of 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 price target on shares of Eagle Materials and gave the company a "buy" rating in a report on Wednesday, May 21st. Loop Capital boosted their price target on shares of Eagle Materials from $230.00 to $245.00 and gave the company a "hold" rating in a report on Wednesday, July 30th. Citigroup reduced their price target on shares of Eagle Materials from $279.00 to $230.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Finally, DA Davidson reduced 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. Three equities research 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, the company currently has an average rating of "Hold" and an average price target of $254.78.

Eagle Materials Trading Down 1.7%

EXP stock traded down $4.13 during mid-day trading on Friday, reaching $233.25. 273,612 shares of the stock traded hands, compared to its average volume of 292,700. The company has a current ratio of 2.73, a quick ratio of 1.26 and a debt-to-equity ratio of 0.87. Eagle Materials Inc has a 52-week low of $191.91 and a 52-week high of $321.93. The company has a market cap of $7.57 billion, a P/E ratio of 17.18 and a beta of 1.28. The stock's fifty day moving average is $226.61 and its 200-day moving average is $219.70.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its earnings results 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 company had revenue of $634.69 million for the quarter, compared to the consensus estimate of $611.52 million. Eagle Materials had a return on equity of 31.21% and a net margin of 19.81%. As a group, sell-side analysts expect that Eagle Materials Inc will post 14.39 earnings per share for the current year.

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 15th. Eagle Materials's dividend payout ratio (DPR) 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.