Hodges Capital Management Inc. Lowers Position 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. reduced its position in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 37.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 112,276 shares of the construction company's stock after selling 68,544 shares during the period. Eagle Materials comprises about 2.5% of Hodges Capital Management Inc.'s investment portfolio, making the stock its 4th biggest position. Hodges Capital Management Inc. owned 0.34% of Eagle Materials worth $24,917,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in EXP. SVB Wealth LLC bought a new position in shares of Eagle Materials in the first quarter worth about $41,000. Parallel Advisors LLC grew its position in shares of Eagle Materials by 26.8% during the 1st quarter. Parallel Advisors LLC now owns 246 shares of the construction company's stock worth $55,000 after buying an additional 52 shares during the period. Private Trust Co. NA grew its position in shares of Eagle Materials by 39.0% during the 1st quarter. Private Trust Co. NA now owns 285 shares of the construction company's stock worth $63,000 after buying an additional 80 shares during the period. Assetmark Inc. grew its position in shares of Eagle Materials by 486.6% during the 1st quarter. Assetmark Inc. now owns 393 shares of the construction company's stock worth $87,000 after buying an additional 326 shares during the period. Finally, Signaturefd LLC grew its position in shares of Eagle Materials by 39.1% during the 1st quarter. Signaturefd LLC now owns 466 shares of the construction company's stock worth $103,000 after buying an additional 131 shares during the period. 96.07% of the stock is owned by institutional investors.

Eagle Materials Stock Up 1.8%

NYSE EXP traded up $4.29 during mid-day trading on Wednesday, hitting $238.33. The company's stock had a trading volume of 111,155 shares, compared to its average volume of 391,244. The company's 50 day simple moving average is $227.44 and its 200 day simple moving average is $219.86. Eagle Materials Inc has a twelve month low of $191.91 and a twelve month high of $321.93. The company has a current ratio of 2.73, a quick ratio of 1.26 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of 17.57 and a beta of 1.28.

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

Eagle Materials Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Eagle Materials's payout ratio is currently 7.36%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EXP. The Goldman Sachs Group set a $242.00 price objective on shares of Eagle Materials and gave the company a "buy" rating in a report on Wednesday, May 21st. JPMorgan Chase & Co. boosted their price target on Eagle Materials from $220.00 to $245.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 26th. Citigroup dropped their price target on shares of Eagle Materials from $279.00 to $230.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Wall Street Zen raised shares of Eagle Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Loop Capital upped their price target on shares of Eagle Materials from $230.00 to $245.00 and gave the company a "hold" rating in a research note on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $254.78.

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.