Eagle Materials Inc $EXP Shares Bought by Hodges Capital Management Inc.

Key Points

• Hodges Capital Management Inc. increased its stake in Eagle Materials Inc. by 2.3%, acquiring an additional 4,245 shares, bringing its total ownership to 185,065 shares valued at approximately $41 million.
• Wall Street analysts have varied opinions on Eagle Materials, with price targets ranging from $241.00 to $255.00, while the stock maintains a consensus rating of "Hold" with an average price target of around $254.78.
• Eagle Materials announced a quarterly dividend of $0.25, marking a $1.00 annual dividend and a yield of 0.4%, with the payment date set for October 16th.

Hodges Capital Management Inc. raised its stake in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 2.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 185,065 shares of the construction company's stock after purchasing an additional 4,245 shares during the period. Eagle Materials accounts for approximately 2.7% of Hodges Capital Management Inc.'s holdings, making the stock its 3rd biggest position. Hodges Capital Management Inc. owned 0.56% of Eagle Materials worth $41,071,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bridges Investment Management Inc. boosted its holdings in shares of Eagle Materials by 111.4% during the 1st quarter. Bridges Investment Management Inc. now owns 6,918 shares of the construction company's stock valued at $1,535,000 after purchasing an additional 3,645 shares during the last quarter. Teacher Retirement System of Texas raised its position in Eagle Materials by 234.6% in the 1st quarter. Teacher Retirement System of Texas now owns 4,905 shares of the construction company's stock worth $1,089,000 after purchasing an additional 3,439 shares during the period. Hi Line Capital Management LLC purchased a new stake in Eagle Materials in the 1st quarter worth about $4,770,000. GAMMA Investing LLC increased its position in shares of Eagle Materials by 21.2% during the first quarter. GAMMA Investing LLC now owns 819 shares of the construction company's stock worth $182,000 after acquiring an additional 143 shares during the period. Finally, Private Trust Co. NA increased its holdings in Eagle Materials by 39.0% during the first quarter. Private Trust Co. NA now owns 285 shares of the construction company's stock valued at $63,000 after buying an additional 80 shares during the period. Institutional investors own 96.07% of the company's stock.

Eagle Materials Stock Down 1.2%

Shares of NYSE EXP traded down $2.95 during mid-day trading on Friday, reaching $234.43. The company had a trading volume of 92,395 shares, compared to its average volume of 392,107. 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 50 day simple moving average of $226.23 and a two-hundred day simple moving average of $219.76. The stock has a market cap of $7.61 billion, a P/E ratio of 17.28 and a beta of 1.28. Eagle Materials Inc has a 52-week low of $191.91 and a 52-week high of $321.93.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The construction company reported $3.76 earnings per share (EPS) for the quarter, topping 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 company had revenue of $634.69 million for the quarter, compared to the consensus estimate of $611.52 million. Sell-side analysts predict that Eagle Materials Inc will post 14.39 earnings per share for the current year.

Eagle Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Monday, September 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Eagle Materials's dividend payout ratio (DPR) is presently 7.36%.

Analyst Upgrades and Downgrades

EXP has been the subject of several research reports. The Goldman Sachs Group set a $242.00 price objective on shares of Eagle Materials and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Stifel Nicolaus set a $241.00 target price on shares of Eagle Materials and gave the stock a "hold" rating in a research note on Wednesday, May 21st. Citigroup dropped their price target on shares of Eagle Materials from $279.00 to $230.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Wall Street Zen upgraded shares of Eagle Materials from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Loop Capital upped their price objective on shares of Eagle Materials from $230.00 to $245.00 and gave the stock a "hold" rating in a report on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Eagle Materials has a consensus rating of "Hold" and a consensus target price of $254.78.

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.