Paralel Advisors LLC Takes Position in Eagle Materials Inc $EXP

Key Points

• Paralel Advisors LLC acquired 12,193 shares of Eagle Materials, valued at approximately $2.74 million. Institutional investors collectively own 96.07% of the company.
• Eagle Materials reported quarterly revenue of $650.97 million, up 2.6% year over year and above estimates, but earnings per share of $3.29 missed expectations by $0.08.
• The company declared a quarterly dividend of $0.25, equivalent to a $1.00 annual payout and a 0.5% yield. Analysts maintain a consensus “Hold” rating with an average price target of $222.56.

Paralel Advisors LLC purchased a new position in Eagle Materials Inc (NYSE:EXP - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,193 shares of the construction company's stock, valued at approximately $2,743,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EXP. Clearstead Advisors LLC increased its holdings in Eagle Materials by 266.7% during the fourth quarter. Clearstead Advisors LLC now owns 132 shares of the construction company's stock valued at $27,000 after buying an additional 96 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Eagle Materials during the fourth quarter worth $29,000. IFP Advisors Inc boosted its position in Eagle Materials by 389.3% during the 4th quarter. IFP Advisors Inc now owns 137 shares of the construction company's stock valued at $28,000 after acquiring an additional 109 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new stake in Eagle Materials during the 3rd quarter valued at $34,000. Finally, EverSource Wealth Advisors LLC boosted its position in Eagle Materials by 102.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company's stock valued at $35,000 after acquiring an additional 87 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors.

Eagle Materials Price Performance

NYSE EXP opened at $203.26 on Friday. The firm's fifty day simple moving average is $213.90 and its two-hundred day simple moving average is $209.17. The firm has a market capitalization of $6.23 billion, a P/E ratio of 16.07 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. Eagle Materials Inc has a 12-month low of $171.99 and a 12-month 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 EPS for the quarter, missing the consensus estimate of $3.37 by ($0.08). The business had revenue of $650.97 million for the quarter, compared to analysts' expectations of $620.35 million. Eagle Materials had a net margin of 17.32% and a return on equity of 26.87%. The business's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.76 EPS. Analysts forecast that Eagle Materials Inc will post 12.66 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders 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 dividend on an annualized basis and a yield of 0.5%. Eagle Materials's dividend payout ratio (DPR) is 7.91%.

Analyst Ratings Changes

EXP has been the subject of several recent research reports. Royal Bank Of Canada boosted their price target on Eagle Materials from $208.00 to $219.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 20th. Wells Fargo & Company dropped their price objective on Eagle Materials from $240.00 to $231.00 and set an "overweight" rating on the stock in a research report on Thursday, July 30th. Wall Street Zen upgraded Eagle Materials from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Stephens boosted 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. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Eagle Materials in a research report on Tuesday, June 16th. One analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Eagle Materials has an average rating of "Hold" and a consensus target price of $222.56.

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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