Eagle Materials Inc. (NYSE:EXP) Stake Lifted by Rafferty Asset Management LLC

Rafferty Asset Management LLC raised its holdings in Eagle Materials Inc. (NYSE:EXP - Free Report) by 25.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,506 shares of the construction company's stock after buying an additional 2,120 shares during the quarter. Rafferty Asset Management LLC's holdings in Eagle Materials were worth $2,592,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sprott Inc. grew its holdings in Eagle Materials by 3.0% in the 4th quarter. Sprott Inc. now owns 1,695 shares of the construction company's stock valued at $418,000 after buying an additional 50 shares during the period. CIBC Asset Management Inc grew its holdings in Eagle Materials by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,086 shares of the construction company's stock valued at $268,000 after buying an additional 54 shares during the period. Hsbc Holdings PLC grew its holdings in Eagle Materials by 6.0% in the 4th quarter. Hsbc Holdings PLC now owns 973 shares of the construction company's stock valued at $240,000 after buying an additional 55 shares during the period. Smartleaf Asset Management LLC grew its holdings in Eagle Materials by 10.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 569 shares of the construction company's stock valued at $140,000 after buying an additional 56 shares during the period. Finally, Blue Trust Inc. grew its holdings in Eagle Materials by 7.1% in the 4th quarter. Blue Trust Inc. now owns 920 shares of the construction company's stock valued at $227,000 after buying an additional 61 shares during the period. Hedge funds and other institutional investors own 96.07% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on EXP. Truist Financial lowered their price target on Eagle Materials from $330.00 to $280.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Stephens set a $255.00 price objective on Eagle Materials and gave the company an "overweight" rating in a research note on Thursday. Loop Capital reduced their price objective on Eagle Materials from $245.00 to $237.00 and set a "hold" rating on the stock in a research note on Wednesday. Stifel Nicolaus set a $241.00 price objective on Eagle Materials and gave the company a "hold" rating in a research note on Wednesday. Finally, The Goldman Sachs Group set a $242.00 price objective on Eagle Materials and gave the company a "buy" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Eagle Materials currently has an average rating of "Hold" and an average price target of $260.00.

Eagle Materials Stock Up 0.5%

Eagle Materials stock traded up $1.11 during midday trading on Friday, hitting $214.77. 316,775 shares of the company were exchanged, compared to its average volume of 337,780. The company's fifty day moving average price is $223.74 and its 200-day moving average price is $246.53. Eagle Materials Inc. has a fifty-two week low of $201.61 and a fifty-two week high of $321.93. The company has a market cap of $7.15 billion, a PE ratio of 15.34 and a beta of 1.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.76 and a quick ratio of 1.01.

Eagle Materials (NYSE:EXP - Get Free Report) last announced its earnings results on Tuesday, May 20th. The construction company reported $2.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.34 by ($0.26). Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. The business had revenue of $470.18 million during the quarter, compared to analyst estimates of $483.14 million. During the same period in the previous year, the company earned $2.24 earnings per share. The business's revenue for the quarter was down 1.4% on a year-over-year basis. On average, research analysts predict that Eagle Materials Inc. will post 14.39 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Monday, June 16th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, June 16th. Eagle Materials's payout ratio is 7.27%.

Eagle Materials Company Profile

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.