Legal & General Group Plc Invests $8.28 Million in Eagle Materials Inc $EXP

Key Points

• Legal & General Group Plc acquired 36,801 Eagle Materials shares worth approximately $8.28 million, giving it a 0.12% stake. Institutional investors collectively own 96.07% of the company.
• Eagle Materials reported quarterly EPS of $3.29, below the $3.37 consensus estimate, while revenue of $650.97 million exceeded expectations and rose 2.6% year over year.
• Analysts generally maintain a cautious outlook, with one Buy rating and nine Holds; the stock has an average target price of $223.67. The company also declared a $0.25 quarterly dividend, equivalent to a 0.5% yield.

Legal & General Group Plc acquired a new stake in Eagle Materials Inc (NYSE:EXP - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 36,801 shares of the construction company's stock, valued at approximately $8,280,000. Legal & General Group Plc owned 0.12% of Eagle Materials at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in EXP. BlackRock Inc. bought a new stake in Eagle Materials during the 2nd quarter worth approximately $688,486,000. Baupost Group LLC MA lifted its holdings in shares of Eagle Materials by 26.1% during the fourth quarter. Baupost Group LLC MA now owns 1,185,248 shares of the construction company's stock worth $244,967,000 after purchasing an additional 245,588 shares during the period. W1M Asset Management Ltd acquired a new position in shares of Eagle Materials during the second quarter worth $155,199,000. Dimensional Fund Advisors LP grew its stake in shares of Eagle Materials by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 627,427 shares of the construction company's stock worth $118,846,000 after purchasing an additional 16,782 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new stake in shares of Eagle Materials in the second quarter worth $129,760,000. Institutional investors own 96.07% of the company's stock.

Eagle Materials Stock Performance

Shares of EXP stock opened at $191.59 on Wednesday. The firm has a 50 day moving average of $210.54 and a 200-day moving average of $207.75. The company has a market cap of $5.88 billion, a price-to-earnings ratio of 15.15 and a beta of 1.36. The company has a quick ratio of 1.91, a current ratio of 3.23 and a debt-to-equity ratio of 1.17. Eagle Materials Inc has a 52 week low of $171.99 and a 52 week high of $245.53.

Eagle Materials (NYSE:EXP - Get Free Report) last released its earnings results 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). The company had revenue of $650.97 million for the quarter, compared to analyst estimates of $620.35 million. Eagle Materials had a net margin of 17.32% and a return on equity of 26.87%. The firm's revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.76 EPS. On average, equities analysts forecast that Eagle Materials Inc will post 12.66 earnings per share for the current year.

Eagle Materials Dividend Announcement

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

Insider Buying and Selling

In related news, SVP Tony Thompson sold 3,074 shares of the company's 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 transaction, the senior vice president directly owned 10,142 shares of the company's stock, valued at approximately $2,068,562.32. This represents a 23.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on EXP. DA Davidson initiated coverage on Eagle Materials in a research report on Monday, August 24th. They set a "neutral" rating and a $220.00 target price for the company. Zacks Research lowered Eagle Materials from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Wall Street Zen raised Eagle Materials from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Royal Bank Of Canada lifted their price objective on Eagle Materials from $208.00 to $219.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 20th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $200.00 target price on shares of Eagle Materials in a report on Wednesday, May 20th. One research analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Eagle Materials currently has an average rating of "Hold" and an average target price of $223.67.

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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