LPL Financial LLC Buys 2,887 Shares of Eagle Materials Inc (NYSE:EXP)

LPL Financial LLC raised its position in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 4.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 67,559 shares of the construction company's stock after purchasing an additional 2,887 shares during the quarter. LPL Financial LLC owned approximately 0.20% of Eagle Materials worth $14,993,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Inspire Advisors LLC bought a new stake in shares of Eagle Materials during the 1st quarter worth $707,000. HB Wealth Management LLC bought a new position in Eagle Materials in the first quarter worth $208,000. Assetmark Inc. grew its stake in shares of Eagle Materials by 486.6% in the first quarter. Assetmark Inc. now owns 393 shares of the construction company's stock worth $87,000 after acquiring an additional 326 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Eagle Materials by 12.5% during the first quarter. Cetera Investment Advisers now owns 7,965 shares of the construction company's stock valued at $1,768,000 after buying an additional 884 shares during the last quarter. Finally, John G Ullman & Associates Inc. purchased a new position in Eagle Materials in the first quarter worth about $2,841,000. Institutional investors and hedge funds own 96.07% of the company's stock.

Eagle Materials Stock Down 2.1%

EXP opened at $220.66 on Thursday. The company has a market cap of $7.16 billion, a PE ratio of 16.25 and a beta of 1.24. The business has a 50 day moving average price of $210.48 and a two-hundred day moving average price of $223.33. Eagle Materials Inc has a 52 week low of $191.91 and a 52 week high of $321.93. The company has a quick ratio of 1.26, a current ratio of 2.73 and a debt-to-equity ratio of 0.87.

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

Eagle Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Monday, September 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Eagle Materials's payout ratio is currently 7.36%.

Analysts Set New Price Targets

A number of research firms recently commented on EXP. Truist Financial dropped their price target on Eagle Materials from $330.00 to $280.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Stephens set a $255.00 target price on Eagle Materials and gave the company an "overweight" rating in a research report on Thursday, May 22nd. Wall Street Zen upgraded Eagle Materials from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. The Goldman Sachs Group set a $242.00 target price on Eagle Materials and gave the stock a "buy" rating in a report on Wednesday, May 21st. Finally, Citigroup decreased their price objective on Eagle Materials from $279.00 to $230.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Eagle Materials presently has a consensus rating of "Hold" and an average target price of $255.33.

Eagle Materials Company Profile

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.