Ieq Capital LLC Takes $3.50 Million Position in Eagle Materials Inc $EXP

Ieq Capital LLC bought a new position in shares of Eagle Materials Inc (NYSE:EXP - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 15,537 shares of the construction company's stock, valued at approximately $3,496,000. Ieq Capital LLC owned 0.05% of Eagle Materials as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Fifth Third Bancorp lifted its holdings in shares of Eagle Materials by 5,116.3% in the first quarter. Fifth Third Bancorp now owns 25,612 shares of the construction company's stock valued at $4,852,000 after purchasing an additional 25,121 shares in the last quarter. Black Creek Investment Management Inc. bought a new position in shares of Eagle Materials during the fourth quarter worth about $103,778,000. Sprucegrove Investment Management Ltd. raised its position in Eagle Materials by 1,671.4% in the 4th quarter. Sprucegrove Investment Management Ltd. now owns 12,400 shares of the construction company's stock valued at $2,563,000 after buying an additional 11,700 shares during the last quarter. Redwood Investment Management LLC acquired a new stake in Eagle Materials in the 1st quarter valued at approximately $1,080,000. Finally, Dimensional Fund Advisors LP lifted its stake in Eagle Materials by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 627,427 shares of the construction company's stock valued at $118,846,000 after acquiring an additional 16,782 shares in the last quarter. Institutional investors own 96.07% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on EXP shares. Citigroup decreased their target price on shares of Eagle Materials from $240.00 to $232.00 and set a "neutral" rating for the company in a research report on Monday, August 10th. Wells Fargo & Company reduced their price objective on shares of Eagle Materials from $240.00 to $231.00 and set an "overweight" rating for the company in a research note on Thursday, July 30th. JPMorgan Chase & Co. upgraded Eagle Materials from an "underweight" rating to a "neutral" rating and set a $225.00 price objective for the company in a report on Tuesday, June 2nd. Jefferies Financial Group reiterated a "hold" rating and set a $200.00 target price on shares of Eagle Materials in a report on Wednesday, May 20th. Finally, DA Davidson set a $220.00 price target on Eagle Materials in a research report on Monday. One equities research analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $223.67.

Eagle Materials Price Performance

Shares of NYSE EXP opened at $204.40 on Tuesday. The firm has a market cap of $6.27 billion, a P/E ratio of 16.16 and a beta of 1.38. The business's 50 day moving average is $213.48 and its 200-day moving average is $209.04. The company has a current ratio of 3.23, a quick ratio of 1.91 and a debt-to-equity ratio of 1.17. Eagle Materials Inc has a 1-year low of $171.99 and a 1-year high of $245.53.

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 for the quarter, missing analysts' consensus estimates of $3.37 by ($0.08). Eagle Materials had a net margin of 17.32% and a return on equity of 26.87%. The business had revenue of $650.97 million during the quarter, compared to analyst estimates of $620.35 million. During the same quarter in the previous year, the firm posted $3.76 earnings per share. The firm's quarterly revenue was up 2.6% on a year-over-year basis. Equities research analysts predict that Eagle Materials Inc will post 12.66 earnings per share 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 issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Eagle Materials's payout ratio is 7.91%.

Eagle Materials 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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