Jupiter Topco LLC Invests $19.55 Million in Eagle Materials Inc $EXP

Key Points

• Jupiter Topco LLC acquired 86,906 Eagle Materials shares worth approximately $19.55 million, representing about 0.28% of the company. Institutional investors collectively own 96.07% of EXP, with BlackRock among the largest new shareholders.
• Eagle Materials reported quarterly revenue of $650.97 million, exceeding estimates, but earnings of $3.29 per share fell short of the $3.37 consensus and declined from $3.76 a year earlier.
• The company declared a quarterly dividend of $0.25, or $1.00 annualized, yielding roughly 0.5%. Analysts maintain a largely neutral view, with a consensus “Hold” rating and an average price target of $223.67.

Jupiter Topco LLC acquired a new stake in Eagle Materials Inc (NYSE:EXP - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 86,906 shares of the construction company's stock, valued at approximately $19,555,000. Jupiter Topco LLC owned about 0.28% of Eagle Materials at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Eagle Materials during the second quarter worth $688,486,000. W1M Asset Management Ltd bought a new position in shares of Eagle Materials in the 2nd quarter valued at $155,199,000. William Blair Investment Management LLC acquired a new position in shares of Eagle Materials during the 2nd quarter worth $129,760,000. Black Creek Investment Management Inc. acquired a new position in shares of Eagle Materials during the 4th quarter worth $103,778,000. Finally, Norges Bank bought a new stake in shares of Eagle Materials during the 4th quarter worth $90,147,000. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Tony Thompson sold 3,074 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $203.96, for a total value of $626,973.04. Following the completion of the sale, the senior vice president directly owned 10,142 shares in the company, valued at $2,068,562.32. This represents a 23.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by insiders.

Eagle Materials Stock Performance

NYSE:EXP opened at $197.88 on Friday. The stock has a market cap of $6.07 billion, a P/E ratio of 15.64 and a beta of 1.38. 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 stock's 50-day moving average is $211.72 and its 200-day moving average is $208.40. 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 issued its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.29 earnings per share (EPS) 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 the consensus estimate of $620.35 million. During the same quarter last year, the business earned $3.76 EPS. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. Equities research analysts anticipate that Eagle Materials Inc will post 12.66 earnings per share for the current year.

Eagle Materials Announces Dividend

The firm also recently disclosed 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. 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 currently 7.91%.

Wall Street Analyst Weigh In

EXP has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Eagle Materials from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Stephens increased their target price on shares of Eagle Materials from $225.00 to $230.00 and gave the stock an "equal weight" rating in a report on Thursday, July 30th. Citigroup reduced their price target on shares of Eagle Materials from $240.00 to $232.00 and set a "neutral" rating on the stock in a research note on Monday, August 10th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Eagle Materials in a report on Tuesday, June 16th. Finally, Zacks Research downgraded shares of Eagle Materials from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $223.67.

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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