Eagle Materials Inc $EXP Shares Purchased by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Eagle Materials Inc. by 3.8%, owning approximately $35.6 million worth of stock as of the latest SEC filing.
• Eagle Materials recently reported earnings of $3.76 per share, surpassing expectations, and announced a quarterly dividend of $0.25 per share to be paid on October 16th.
• The company has a market capitalization of $7.76 billion and a current consensus rating of "Hold," with an average price target of $255.33.

Raymond James Financial Inc. boosted its position in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,400 shares of the construction company's stock after buying an additional 5,939 shares during the period. Raymond James Financial Inc. owned 0.48% of Eagle Materials worth $35,598,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Bridges Investment Management Inc. grew its position in shares of Eagle Materials by 111.4% in the first quarter. Bridges Investment Management Inc. now owns 6,918 shares of the construction company's stock valued at $1,535,000 after purchasing an additional 3,645 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of Eagle Materials by 234.6% in the first quarter. Teacher Retirement System of Texas now owns 4,905 shares of the construction company's stock valued at $1,089,000 after purchasing an additional 3,439 shares in the last quarter. Hi Line Capital Management LLC acquired a new position in Eagle Materials in the first quarter valued at approximately $4,770,000. GAMMA Investing LLC lifted its holdings in Eagle Materials by 21.2% in the first quarter. GAMMA Investing LLC now owns 819 shares of the construction company's stock valued at $182,000 after acquiring an additional 143 shares during the last quarter. Finally, Private Trust Co. NA boosted its position in shares of Eagle Materials by 39.0% during the first quarter. Private Trust Co. NA now owns 285 shares of the construction company's stock worth $63,000 after buying an additional 80 shares during the period. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Materials Price Performance

Shares of NYSE:EXP traded down $5.40 during trading on Thursday, hitting $230.13. 133,313 shares of the stock were exchanged, compared to its average volume of 395,080. The company has a fifty day moving average price of $220.17 and a two-hundred day moving average price of $220.70. The company has a market cap of $7.47 billion, a PE ratio of 16.92 and a beta of 1.24. The company has a current ratio of 2.73, a quick ratio of 1.26 and a debt-to-equity ratio of 0.87. Eagle Materials Inc has a 12-month low of $191.91 and a 12-month high of $321.93.

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

Eagle Materials Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have weighed in on the company. DA Davidson cut their price target on Eagle Materials from $260.00 to $245.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Loop Capital boosted their price target on Eagle Materials from $230.00 to $245.00 and gave the company a "hold" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price target on Eagle Materials from $220.00 to $245.00 and gave the company a "neutral" rating in a research report on Tuesday. Wall Street Zen raised Eagle Materials from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Citigroup lowered their price objective on Eagle Materials from $279.00 to $230.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $254.78.

Eagle Materials 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.