Royal Bank of Canada Has $11.43 Million Holdings in Eagle Materials Inc $EXP

Key Points

• Royal Bank of Canada increased its stake in Eagle Materials Inc by 2.4%, owning 51,498 shares valued at approximately $11.4 million as of the first quarter.
• Analysts have mixed views on Eagle Materials, with price targets ranging from $230 to $254.78, and a consensus average rating of "Hold".
• Eagle Materials declared a quarterly dividend of $0.25 per share, to be paid on October 16th, highlighting a dividend yield of 0.4%.

Royal Bank of Canada lifted its holdings in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 2.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,498 shares of the construction company's stock after purchasing an additional 1,210 shares during the quarter. Royal Bank of Canada owned about 0.15% of Eagle Materials worth $11,428,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. SVB Wealth LLC purchased a new position in shares of Eagle Materials in the 1st quarter valued at $41,000. Parallel Advisors LLC lifted its position in shares of Eagle Materials by 26.8% during the first 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. Private Trust Co. NA lifted 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 purchasing an additional 80 shares during the last quarter. Assetmark Inc. grew its position in shares of Eagle Materials by 486.6% during the 1st quarter. Assetmark Inc. now owns 393 shares of the construction company's stock valued at $87,000 after buying an additional 326 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of Eagle Materials by 39.1% during the 1st quarter. Signaturefd LLC now owns 466 shares of the construction company's stock valued at $103,000 after buying an additional 131 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Eagle Materials Stock Performance

Shares of NYSE EXP traded down $3.86 during trading hours on Wednesday, hitting $230.19. 470,314 shares of the company's stock were exchanged, compared to its average volume of 309,173. Eagle Materials Inc has a 1-year low of $191.91 and a 1-year high of $321.93. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.73 and a quick ratio of 1.26. The stock has a market capitalization of $7.47 billion, a price-to-earnings ratio of 16.95 and a beta of 1.28. The company's 50-day moving average price is $227.66 and its 200-day moving average price is $219.93.

Eagle Materials (NYSE:EXP - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The construction company reported $3.76 earnings per share 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 during the quarter, compared to analysts' expectations of $611.52 million. On average, sell-side analysts expect that Eagle Materials Inc will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

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

Wall Street Analysts Forecast Growth

EXP has been the subject of a number of analyst reports. DA Davidson reduced 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 note on Friday, May 23rd. Loop Capital upped their price target on shares of Eagle Materials from $230.00 to $245.00 and gave the company a "hold" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. upped their price target on shares of Eagle Materials from $220.00 to $245.00 and gave the company a "neutral" rating in a report on Tuesday, August 26th. The Goldman Sachs Group set a $242.00 price target on Eagle Materials and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Finally, Stifel Nicolaus set a $241.00 target price on Eagle Materials and gave the company a "hold" rating in a research note on Wednesday, May 21st. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently 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.