Hsbc Holdings PLC Purchases 9,960 Shares of Eagle Materials Inc $EXP

Key Points

• HSBC Holdings increased its Eagle Materials stake by 109.9% in the second quarter, purchasing 9,960 shares and bringing its total holdings to 19,023 shares valued at approximately $4.27 million. Institutional investors and hedge funds collectively own 96.07% of the company.
• Eagle Materials reported quarterly revenue of $650.97 million, beating estimates, but its $3.29 EPS missed consensus by $0.08. Revenue rose 2.6% year over year, while analysts expect full-year EPS of $12.66.
• The company declared a quarterly dividend of $0.25, or $1.00 annually, representing a 0.5% yield. Despite several price-target increases, analyst sentiment remains cautious, with a consensus rating of “Reduce” and a target price of $219.78.

Hsbc Holdings PLC increased its holdings in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 109.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,023 shares of the construction company's stock after buying an additional 9,960 shares during the quarter. Hsbc Holdings PLC owned 0.06% of Eagle Materials worth $4,274,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Focus Partners Wealth boosted its holdings in shares of Eagle Materials by 21.5% in the first quarter. Focus Partners Wealth now owns 2,019 shares of the construction company's stock valued at $448,000 after buying an additional 357 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Eagle Materials by 102.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company's stock worth $35,000 after purchasing an additional 87 shares during the period. First Trust Advisors LP increased its holdings in Eagle Materials by 5.8% during the 2nd quarter. First Trust Advisors LP now owns 101,969 shares of the construction company's stock worth $20,609,000 after purchasing an additional 5,612 shares in the last quarter. Baird Financial Group Inc. increased its holdings in Eagle Materials by 8.0% during the 2nd quarter. Baird Financial Group Inc. now owns 1,364 shares of the construction company's stock worth $276,000 after purchasing an additional 101 shares in the last quarter. Finally, Jump Financial LLC raised its stake in shares of Eagle Materials by 359.9% in the 2nd quarter. Jump Financial LLC now owns 12,510 shares of the construction company's stock valued at $2,528,000 after purchasing an additional 9,790 shares during the period. 96.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Tony Thompson sold 3,074 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $203.96, for a total transaction of $626,973.04. Following the sale, the senior vice president owned 10,142 shares of the company's stock, valued at $2,068,562.32. This represents a 23.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.70% of the company's stock.

Eagle Materials Price Performance

Eagle Materials stock opened at $183.82 on Friday. Eagle Materials Inc has a 12 month low of $171.99 and a 12 month high of $245.53. The stock's 50 day moving average is $205.41 and its 200-day moving average is $205.67. The company has a current ratio of 3.23, a quick ratio of 1.91 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $5.64 billion, a price-to-earnings ratio of 14.53 and a beta of 1.36.

Eagle Materials (NYSE:EXP - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The construction company reported $3.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.37 by ($0.08). Eagle Materials had a net margin of 17.32% and a return on equity of 26.87%. The firm had revenue of $650.97 million during the quarter, compared to the consensus estimate of $620.35 million. During the same quarter last year, the firm earned $3.76 earnings per share. The business's revenue for the quarter was up 2.6% compared to the same quarter last year. Equities research analysts expect that Eagle Materials Inc will post 12.66 EPS for the current year.

Eagle Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Monday, September 14th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, September 14th. Eagle Materials's payout ratio is 7.91%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. JPMorgan Chase & Co. upgraded Eagle Materials from an "underweight" rating to a "neutral" rating and set a $225.00 target price on the stock in a research note on Tuesday, June 2nd. Weiss Ratings reiterated a "hold (c)" rating on shares of Eagle Materials in a report on Tuesday, June 16th. Zacks Research downgraded shares of Eagle Materials from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Royal Bank Of Canada lifted their price target on shares of Eagle Materials from $208.00 to $219.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 20th. Finally, Stephens boosted their price target on shares of Eagle Materials from $225.00 to $230.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. Nine investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Eagle Materials currently has a consensus rating of "Reduce" and a consensus price target of $219.78.

Eagle Materials Company Profile

Eagle Materials Inc NYSE: EXP is a U.S.-based manufacturer of essential building materials used in residential, commercial and infrastructure construction. The company produces and distributes cement, ready-mix concrete, crushed stone and sand, as well as gypsum wallboard.

Its cement business supplies materials for concrete production and construction projects, while its concrete and aggregates operations provide ready-mix concrete and construction aggregates. Through its American Gypsum operations, Eagle Materials manufactures gypsum wallboard used in interior walls and ceilings.

Headquartered in Dallas, Texas, Eagle Materials serves regional construction markets primarily across the United States, with operations concentrated in states including Texas, Colorado, Nevada and Oklahoma.

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