Hsbc Holdings PLC Acquires New Stake in Eagle Materials Inc $EXP

Key Points

• HSBC Holdings PLC opened a new position in Eagle Materials during the fourth quarter, buying 11,124 shares valued at about $2.3 million.
• Eagle Materials reported better-than-expected quarterly results, with EPS of $1.91 versus the $1.59 estimate and revenue of $479.11 million, while also posting strong profitability metrics.
• The company declared a quarterly dividend of $0.25 per share, and analysts currently have a consensus rating of Hold with an average price target of $226.

Hsbc Holdings PLC purchased a new position in shares of Eagle Materials Inc (NYSE:EXP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,124 shares of the construction company's stock, valued at approximately $2,317,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Caisse de depot et placement du Quebec boosted its holdings in shares of Eagle Materials by 3.6% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,426 shares of the construction company's stock worth $332,000 after purchasing an additional 50 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Eagle Materials by 15.8% in the fourth quarter. Signaturefd LLC now owns 389 shares of the construction company's stock valued at $80,000 after purchasing an additional 53 shares during the last quarter. GAMMA Investing LLC lifted its position in Eagle Materials by 5.9% during the fourth quarter. GAMMA Investing LLC now owns 1,048 shares of the construction company's stock worth $217,000 after buying an additional 58 shares in the last quarter. M&T Bank Corp lifted its position in Eagle Materials by 2.6% during the fourth quarter. M&T Bank Corp now owns 2,406 shares of the construction company's stock worth $498,000 after buying an additional 61 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Eagle Materials by 102.4% during the second quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company's stock worth $35,000 after buying an additional 87 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Eagle Materials Trading Up 2.0%

Shares of Eagle Materials stock opened at $209.70 on Friday. The firm has a market capitalization of $6.48 billion, a price-to-earnings ratio of 15.98 and a beta of 1.37. Eagle Materials Inc has a fifty-two week low of $171.99 and a fifty-two week high of $245.53. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.09 and a current ratio of 3.66. The stock has a 50 day moving average of $213.80 and a 200 day moving average of $211.41.

Eagle Materials (NYSE:EXP - Get Free Report) last posted its earnings results on Tuesday, May 19th. The construction company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.32. Eagle Materials had a return on equity of 28.27% and a net margin of 18.36%.The company had revenue of $479.11 million during the quarter, compared to analysts' expectations of $451.99 million. During the same quarter last year, the firm earned $2.00 earnings per share. The firm's quarterly revenue was up 1.9% compared to the same quarter last year. As a group, research analysts predict that Eagle Materials Inc will post 13.02 earnings per share for the current year.

Eagle Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, June 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, June 15th. Eagle Materials's payout ratio is 7.62%.

Wall Street Analyst Weigh In

Several analysts have issued reports on EXP shares. Wells Fargo & Company dropped their target price on Eagle Materials from $246.00 to $240.00 and set an "overweight" rating for the company in a report on Wednesday. Zacks Research raised shares of Eagle Materials from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 1st. Stephens dropped their price objective on shares of Eagle Materials from $235.00 to $225.00 and set an "equal weight" rating for the company in a report on Wednesday, May 20th. Wall Street Zen upgraded shares of Eagle Materials from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, Citigroup raised their price objective on shares of Eagle Materials from $217.00 to $240.00 and gave the stock a "neutral" rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $226.00.

Eagle Materials Company Profile

Eagle Materials Inc NYSE: EXP is a Dallas, Texas–based manufacturer of building materials serving construction and heavy industry markets across the United States. The company's primary products include portland and masonry cements, gypsum wallboard, lightweight aggregate, paperboard packaging, and roofing granules. These product lines support a wide range of end uses—from residential and commercial buildings to infrastructure projects and industrial applications.

Since its spin-off from a major homebuilding company in 2004, Eagle Materials has grown through targeted facility expansions and strategic acquisitions.

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