Perigon Wealth Management LLC Buys Shares of 5,558 Eagle Materials Inc $EXP

Key Points

• Perigon Wealth Management bought 5,558 shares of Eagle Materials, valued at approximately $1.25 million. Institutional investors and hedge funds collectively own 96.07% of the company.
• Eagle Materials reported quarterly EPS of $3.29, below the $3.37 analyst consensus, while revenue of $650.97 million exceeded expectations and increased 2.6% year over year.
• Shares were trading at $201.08, down 2.2%, while analysts maintained a consensus “Hold” rating with an average price target of $222.56. The company also declared a quarterly dividend of $0.25 per share.

Perigon Wealth Management LLC purchased a new position in shares of Eagle Materials Inc (NYSE:EXP - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,558 shares of the construction company's stock, valued at approximately $1,251,000.

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

Eagle Materials Trading Down 2.2%

Shares of EXP opened at $201.08 on Wednesday. Eagle Materials Inc has a twelve month low of $171.99 and a twelve month high of $245.53. The firm has a market capitalization of $6.17 billion, a P/E ratio of 15.90 and a beta of 1.39. The company has a current ratio of 3.23, a quick ratio of 1.91 and a debt-to-equity ratio of 1.17. The stock's fifty day simple moving average is $214.33 and its 200 day simple moving average is $209.21.

Eagle Materials (NYSE:EXP - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.29 EPS for the quarter, missing analysts' consensus estimates of $3.37 by ($0.08). The firm had revenue of $650.97 million during the quarter, compared to analysts' expectations of $620.35 million. Eagle Materials had a return on equity of 26.87% and a net margin of 17.32%.The business's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the business earned $3.76 earnings per share. On average, equities research analysts forecast that Eagle Materials Inc will post 12.66 earnings per share for the current year.

Eagle Materials Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently weighed in on EXP. Jefferies Financial Group reiterated a "hold" rating and set a $200.00 target price on shares of Eagle Materials in a research report on Wednesday, May 20th. JPMorgan Chase & Co. upgraded Eagle Materials from an "underweight" rating to a "neutral" rating and set a $225.00 price target for the company in a report on Tuesday, June 2nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Eagle Materials in a research note on Tuesday, June 16th. Zacks Research lowered shares of Eagle Materials from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Finally, Stephens raised their target price on shares of Eagle Materials from $225.00 to $230.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. One analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Eagle Materials currently has a consensus rating of "Hold" and an average target price of $222.56.

About Eagle Materials

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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