Mad River Investors Cuts Stake in Eagle Materials Inc (NYSE:EXP)

Mad River Investors cut its stake in Eagle Materials Inc (NYSE:EXP - Free Report) by 60.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,106 shares of the construction company's stock after selling 3,270 shares during the quarter. Eagle Materials comprises about 0.2% of Mad River Investors' investment portfolio, making the stock its 21st biggest position. Mad River Investors' holdings in Eagle Materials were worth $467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Eagle Materials during the fourth quarter worth about $93,672,000. GAMMA Investing LLC increased its position in shares of Eagle Materials by 26,787.7% during the first quarter. GAMMA Investing LLC now owns 181,761 shares of the construction company's stock worth $40,338,000 after acquiring an additional 181,085 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Eagle Materials during the fourth quarter worth about $38,115,000. Baupost Group LLC MA increased its position in shares of Eagle Materials by 27.6% during the fourth quarter. Baupost Group LLC MA now owns 638,223 shares of the construction company's stock worth $157,488,000 after acquiring an additional 137,950 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC purchased a new stake in shares of Eagle Materials during the fourth quarter worth about $28,778,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Stock Performance

Shares of EXP stock opened at $196.59 on Friday. The company has a quick ratio of 1.03, a current ratio of 2.73 and a debt-to-equity ratio of 0.84. The business has a 50 day moving average of $215.62 and a two-hundred day moving average of $232.28. Eagle Materials Inc has a 52 week low of $191.91 and a 52 week high of $321.93. The company has a market cap of $6.43 billion, a P/E ratio of 14.29 and a beta of 1.28.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its earnings results on Tuesday, May 20th. The construction company reported $2.08 EPS for the quarter, missing analysts' consensus estimates of $2.34 by ($0.26). Eagle Materials had a net margin of 20.50% and a return on equity of 32.71%. The company had revenue of $470.18 million during the quarter, compared to analyst estimates of $483.14 million. During the same quarter in the previous year, the firm earned $2.24 earnings per share. The business's revenue was down 1.4% on a year-over-year basis. As a group, analysts anticipate that Eagle Materials Inc will post 14.39 EPS for the current year.

Eagle Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Monday, June 16th will be paid a $0.25 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.51%. Eagle Materials's payout ratio is currently 7.27%.

Analyst Ratings Changes

EXP has been the topic of a number of analyst reports. Truist Financial dropped their target price on Eagle Materials from $330.00 to $280.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Citigroup dropped their target price on Eagle Materials from $279.00 to $230.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Stifel Nicolaus set a $241.00 price objective on Eagle Materials and gave the company a "hold" rating in a report on Wednesday, May 21st. DA Davidson lowered their price objective on Eagle Materials from $260.00 to $245.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on Eagle Materials from $310.00 to $250.00 and set a "neutral" rating for the company in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Eagle Materials presently has a consensus rating of "Hold" and a consensus target price of $254.44.

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.

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