Madison Asset Management LLC Makes New $289,000 Investment in Eagle Materials Inc (NYSE:EXP)

Madison Asset Management LLC purchased a new position in shares of Eagle Materials Inc (NYSE:EXP - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,300 shares of the construction company's stock, valued at approximately $289,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Norges Bank acquired a new stake in Eagle Materials in the fourth quarter valued at about $93,672,000. GAMMA Investing LLC lifted its position in Eagle Materials by 26,787.7% in the first quarter. GAMMA Investing LLC now owns 181,761 shares of the construction company's stock valued at $40,338,000 after purchasing an additional 181,085 shares during the period. Victory Capital Management Inc. lifted its position in Eagle Materials by 111.1% in the first quarter. Victory Capital Management Inc. now owns 331,081 shares of the construction company's stock valued at $73,477,000 after purchasing an additional 174,241 shares during the period. Raymond James Financial Inc. acquired a new stake in Eagle Materials in the fourth quarter valued at about $38,115,000. Finally, Baupost Group LLC MA lifted its position in Eagle Materials by 27.6% in the fourth quarter. Baupost Group LLC MA now owns 638,223 shares of the construction company's stock valued at $157,488,000 after purchasing an additional 137,950 shares during the period. Hedge funds and other institutional investors own 96.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on EXP shares. The Goldman Sachs Group set a $242.00 price target on Eagle Materials and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Truist Financial decreased their price target on Eagle Materials from $330.00 to $280.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus set a $241.00 price target on Eagle Materials and gave the stock a "hold" rating in a research note on Wednesday, May 21st. Loop Capital cut their price objective on Eagle Materials from $245.00 to $237.00 and set a "hold" rating for the company in a research report on Wednesday, May 21st. Finally, DA Davidson cut their price objective on Eagle Materials from $260.00 to $245.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Eagle Materials currently has an average rating of "Hold" and a consensus target price of $254.44.

Eagle Materials Stock Up 2.8%

Shares of Eagle Materials stock traded up $6.26 during midday trading on Friday, reaching $226.30. 345,858 shares of the company's stock traded hands, compared to its average volume of 403,969. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 16.45 and a beta of 1.26. The company's 50 day simple moving average is $209.50 and its 200 day simple moving average is $224.47. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.03 and a current ratio of 2.73. Eagle Materials Inc has a 52 week low of $191.91 and a 52 week high of $321.93.

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

Eagle Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Monday, June 16th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Eagle Materials's dividend payout ratio (DPR) is currently 7.27%.

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.