Redwood Investment Management LLC Invests $1.19 Million in Eagle Materials Inc $EXP

Key Points

• Redwood Investment Management acquired 5,285 shares of Eagle Materials worth approximately $1.19 million, while institutional investors collectively own 96.07% of the company.
• Eagle Materials reported quarterly revenue of $650.97 million, up 2.6% year over year, but earnings per share of $3.29 missed analysts’ estimate of $3.37.
• EXP shares opened at $200.45, below the analyst consensus price target of $223.67; the consensus rating remains “Hold.” The company also declared a quarterly dividend of $0.25 per share, representing a 0.5% annualized yield.

Redwood Investment Management LLC acquired a new stake in Eagle Materials Inc (NYSE:EXP - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,285 shares of the construction company's stock, valued at approximately $1,189,000.

A number of other institutional investors have also recently made changes to their positions in the business. Clearstead Advisors LLC grew its stake in shares of Eagle Materials by 266.7% in 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 in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Eagle Materials in the fourth quarter valued at $29,000. IFP Advisors Inc raised its stake in shares of Eagle Materials by 389.3% in the fourth 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 purchased a new position in Eagle Materials in the third quarter valued at $34,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Eagle Materials by 102.4% in the second quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company's stock valued at $35,000 after purchasing an additional 87 shares during the period. Institutional investors and hedge funds own 96.07% of the company's stock.

Insider Transactions at Eagle Materials

In related news, SVP Tony Thompson sold 3,074 shares of the company's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $203.96, for a total value of $626,973.04. Following the completion of the transaction, the senior vice president directly owned 10,142 shares of the company's stock, valued at $2,068,562.32. This represents a 23.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is owned by company insiders.

Eagle Materials Stock Performance

Shares of EXP stock opened at $200.45 on Thursday. The company has a market cap of $6.15 billion, a P/E ratio of 15.85 and a beta of 1.38. The firm has a fifty day moving average price of $212.80 and a 200 day moving average price of $208.67. 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 posted its quarterly earnings results on Wednesday, July 29th. The construction company reported $3.29 earnings per share for the quarter, missing analysts' consensus estimates of $3.37 by ($0.08). The business had revenue of $650.97 million during the quarter, compared to analyst estimates of $620.35 million. Eagle Materials had a net margin of 17.32% and a return on equity of 26.87%. The firm's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.76 earnings per share. Sell-side analysts predict that Eagle Materials Inc will post 12.66 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on EXP shares. Citigroup cut their price target on Eagle Materials from $240.00 to $232.00 and set a "neutral" rating on the stock in a report on Monday, August 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Eagle Materials in a research note on Tuesday, June 16th. Stephens boosted their price objective on Eagle Materials from $225.00 to $230.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. upgraded shares of Eagle Materials from an "underweight" rating to a "neutral" rating and set a $225.00 target price on the stock in a research note on Tuesday, June 2nd. Finally, Wells Fargo & Company reduced their target price on shares of Eagle Materials from $240.00 to $231.00 and set an "overweight" rating on the stock in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $223.67.

Eagle Materials Company 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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