Eagle Materials Inc $EXP Stock Position Raised by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. has increased its stake in Eagle Materials Inc by 1.3%, now owning 258,218 shares worth approximately $57.3 million after the purchase of 3,350 shares.
• Eagle Materials reported a quarterly earnings per share (EPS) of $3.76, slightly exceeding analysts’ expectations of $3.73, along with a net margin of 19.81% and a robust revenue of $634.69 million.
• The company has announced a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 0.4% and a low payout ratio of 7.36%.

Price T Rowe Associates Inc. MD raised its position in Eagle Materials Inc (NYSE:EXP - Free Report) by 1.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 258,218 shares of the construction company's stock after purchasing an additional 3,350 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.78% of Eagle Materials worth $57,307,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of EXP. Transce3nd LLC lifted its holdings in shares of Eagle Materials by 9.7% during the 1st quarter. Transce3nd LLC now owns 552 shares of the construction company's stock valued at $122,000 after acquiring an additional 49 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Eagle Materials by 26.8% in the 1st quarter. Parallel Advisors LLC now owns 246 shares of the construction company's stock worth $55,000 after purchasing an additional 52 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of Eagle Materials by 6.0% in the 4th quarter. Hsbc Holdings PLC now owns 973 shares of the construction company's stock worth $240,000 after purchasing an additional 55 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Eagle Materials by 0.4% in the 1st quarter. State of Alaska Department of Revenue now owns 17,433 shares of the construction company's stock worth $3,868,000 after purchasing an additional 75 shares during the last quarter. Finally, HighPoint Advisor Group LLC increased its position in shares of Eagle Materials by 3.8% in the 1st quarter. HighPoint Advisor Group LLC now owns 2,110 shares of the construction company's stock worth $468,000 after purchasing an additional 77 shares during the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Materials Price Performance

Shares of NYSE:EXP traded up $0.07 during trading on Friday, reaching $230.56. The company had a trading volume of 274,962 shares, compared to its average volume of 321,899. The firm's fifty day moving average is $221.55 and its 200 day moving average is $220.18. The firm has a market capitalization of $7.48 billion, a PE ratio of 16.98 and a beta of 1.24. Eagle Materials Inc has a twelve month low of $191.91 and a twelve month high of $321.93. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.26 and a current ratio of 2.73.

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

Eagle Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Monday, September 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.00 annualized dividend and a yield of 0.4%. Eagle Materials's dividend payout ratio is currently 7.36%.

Wall Street Analyst Weigh In

EXP has been the topic of a number of recent research reports. DA Davidson cut their target price on shares of Eagle Materials from $260.00 to $245.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Wall Street Zen upgraded shares of Eagle Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Citigroup decreased their target price on shares of Eagle Materials from $279.00 to $230.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Stifel Nicolaus set a $241.00 target price on shares of Eagle Materials and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of Eagle Materials from $220.00 to $245.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 26th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $254.78.

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.