JPMorgan Chase & Co. Increases Holdings in Eagle Materials Inc (NYSE:EXP)

Key Points

• JPMorgan Chase & Co. increased its holdings in Eagle Materials Inc by 18.8%, now owning approximately 6.43% of the company's shares valued at $475 million.
• As of the most recent filings, around 96.07% of Eagle Materials stock is owned by institutional investors and hedge funds, highlighting strong institutional interest.
• The company recently reported a quarterly earnings per share (EPS) of $3.76, exceeding expectations, and declared a quarterly dividend of $0.25, reflecting a 0.4% dividend yield.

JPMorgan Chase & Co. boosted its position in Eagle Materials Inc (NYSE:EXP - Free Report) by 18.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,140,621 shares of the construction company's stock after purchasing an additional 339,089 shares during the period. JPMorgan Chase & Co. owned about 6.43% of Eagle Materials worth $475,068,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Transce3nd LLC increased its position in shares of Eagle Materials by 9.7% in the first quarter. Transce3nd LLC now owns 552 shares of the construction company's stock valued at $122,000 after buying an additional 49 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Eagle Materials by 26.8% in the first quarter. Parallel Advisors LLC now owns 246 shares of the construction company's stock valued at $55,000 after buying an additional 52 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Eagle Materials by 6.0% in the fourth quarter. Hsbc Holdings PLC now owns 973 shares of the construction company's stock valued at $240,000 after buying an additional 55 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Eagle Materials by 0.4% in the first quarter. State of Alaska Department of Revenue now owns 17,433 shares of the construction company's stock valued at $3,868,000 after buying an additional 75 shares in the last quarter. Finally, HighPoint Advisor Group LLC increased its position in shares of Eagle Materials by 3.8% in the first quarter. HighPoint Advisor Group LLC now owns 2,110 shares of the construction company's stock valued at $468,000 after buying an additional 77 shares in the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EXP has been the subject of a number of research analyst reports. Wall Street Zen upgraded Eagle Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Truist Financial dropped their price objective on shares of Eagle Materials from $330.00 to $280.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. DA Davidson dropped their price objective on shares of Eagle Materials from $260.00 to $245.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. 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. Finally, Loop Capital raised their price objective on shares of Eagle Materials from $230.00 to $245.00 and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Eagle Materials presently has an average rating of "Hold" and an average price target of $255.33.

Eagle Materials Stock Down 1.2%

EXP stock opened at $222.41 on Tuesday. The stock has a market capitalization of $7.22 billion, a P/E ratio of 16.38 and a beta of 1.24. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.26 and a current ratio of 2.73. Eagle Materials Inc has a one year low of $191.91 and a one year high of $321.93. The company has a 50 day moving average price of $211.82 and a two-hundred day moving average price of $222.09.

Eagle Materials (NYSE:EXP - Get Free Report) last released its earnings results on Tuesday, July 29th. The construction company reported $3.76 EPS for the quarter, topping the consensus estimate of $3.73 by $0.03. The firm had revenue of $634.69 million during the quarter, compared to analysts' expectations of $611.52 million. Eagle Materials had a net margin of 19.81% and a return on equity of 31.21%. As a group, sell-side analysts expect that Eagle Materials Inc will post 14.39 EPS for the current year.

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Monday, September 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, September 15th. Eagle Materials's dividend payout ratio (DPR) is 7.36%.

About Eagle Materials

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.

Want to see what other hedge funds are holding EXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eagle Materials Inc (NYSE:EXP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.