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

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Transce3nd LLC increased its stake in shares of Eagle Materials by 9.7% during the first quarter. Transce3nd LLC now owns 552 shares of the construction company's stock valued at $122,000 after purchasing an additional 49 shares in the last quarter. Parallel Advisors LLC increased 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 valued at $55,000 after acquiring an additional 52 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Eagle Materials by 0.4% during the first quarter. State of Alaska Department of Revenue now owns 17,433 shares of the construction company's stock valued at $3,868,000 after acquiring an additional 75 shares in the last quarter. HighPoint Advisor Group LLC increased its position in shares of Eagle Materials by 3.8% during the first quarter. HighPoint Advisor Group LLC now owns 2,110 shares of the construction company's stock valued at $468,000 after acquiring an additional 77 shares in the last quarter. Finally, Central Pacific Bank Trust Division increased its position in shares of Eagle Materials by 10.5% during the first quarter. Central Pacific Bank Trust Division now owns 840 shares of the construction company's stock valued at $186,000 after acquiring an additional 80 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on EXP shares. Loop Capital raised their price target on shares of 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. raised their price target 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. Citigroup reduced their price target on shares of Eagle Materials from $279.00 to $230.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. The Goldman Sachs Group set a $242.00 price target on shares of Eagle Materials and gave the company a "buy" rating in a research report on Wednesday, May 21st. Finally, DA Davidson reduced their price target 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. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Eagle Materials presently has an average rating of "Hold" and an average target price of $254.78.

Eagle Materials Trading Up 3.0%

NYSE:EXP opened at $237.78 on Friday. 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. The company has a market cap of $7.72 billion, a PE ratio of 17.51 and a beta of 1.28. The company has a 50 day simple moving average of $226.23 and a two-hundred day simple moving average of $219.76.

Eagle Materials (NYSE:EXP - Get Free Report) last posted its earnings results on Tuesday, July 29th. The construction company reported $3.76 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $611.52 million. Research analysts forecast that Eagle Materials Inc will post 14.39 earnings per share for the current year.

Eagle Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Monday, September 15th will be paid 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 dividend payout ratio (DPR) is currently 7.36%.

About Eagle Materials

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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