Reinhart Partners LLC. Trims Stock Position in Eagle Materials Inc $EXP

Key Points

• Reinhart Partners LLC has reduced its stake in Eagle Materials Inc by 5.9%, now holding 37,190 shares worth approximately $7.52 million.
• Despite the stake reduction, other institutional investors have increased their positions, with D. E. Shaw & Co. raising theirs by 106.6% in the last quarter.
• Analysts remain cautiously optimistic, with a consensus target price of $254.78 and various ratings ranging from "buy" to "hold" on Eagle Materials stock.

Reinhart Partners LLC. cut its stake in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,190 shares of the construction company's stock after selling 2,330 shares during the quarter. Reinhart Partners LLC. owned approximately 0.11% of Eagle Materials worth $7,517,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of EXP. D. E. Shaw & Co. Inc. increased its position in shares of Eagle Materials by 106.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,479 shares of the construction company's stock worth $365,000 after acquiring an additional 23,815 shares during the period. Focus Partners Wealth purchased a new position in Eagle Materials during the fourth quarter valued at approximately $415,000. Millennium Management LLC increased its holdings in Eagle Materials by 18.9% during the fourth quarter. Millennium Management LLC now owns 5,163 shares of the construction company's stock valued at $1,274,000 after buying an additional 821 shares during the period. Quantinno Capital Management LP grew its holdings in Eagle Materials by 126.9% in the fourth quarter. Quantinno Capital Management LP now owns 1,813 shares of the construction company's stock worth $448,000 after purchasing an additional 1,014 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in Eagle Materials by 7.0% during the fourth quarter. ProShare Advisors LLC now owns 1,569 shares of the construction company's stock valued at $387,000 after purchasing an additional 103 shares during the period. 96.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. DA Davidson decreased their target price on shares of Eagle Materials from $260.00 to $245.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Stephens set a $255.00 target price on shares of Eagle Materials and gave the company an "overweight" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. boosted their target price on shares of Eagle Materials from $220.00 to $245.00 and gave the company a "neutral" rating in a research report on Tuesday, August 26th. The Goldman Sachs Group set a $242.00 target price on shares of Eagle Materials and gave the company a "buy" rating in a research report on Wednesday, May 21st. Finally, Wall Street Zen raised shares of Eagle Materials from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $254.78.

Eagle Materials Stock Performance

Shares of EXP stock opened at $233.81 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 2.73 and a debt-to-equity ratio of 0.87. Eagle Materials Inc has a 52 week low of $191.91 and a 52 week high of $321.93. The stock has a market capitalization of $7.59 billion, a PE ratio of 17.22 and a beta of 1.28. The firm has a 50 day moving average of $227.44 and a two-hundred day moving average of $219.86.

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

Eagle Materials Announces Dividend

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

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.

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