Sei Investments Co. Increases Holdings in Eagle Materials Inc $EXP

Key Points

• Sei Investments increased its Eagle Materials stake by 3.2% in the first quarter, holding 196,109 shares valued at approximately $37.2 million. Institutional investors collectively own 96.07% of the company.
• Eagle Materials exceeded quarterly expectations, reporting $1.91 in EPS versus the $1.59 consensus and revenue of $479.11 million versus $451.99 million expected. Revenue rose 1.9% year over year.
• Analysts remain cautious, with a consensus “Hold” rating and average price target of $226. The company also declared a quarterly dividend of $0.25, equivalent to a 0.5% annualized yield.

Sei Investments Co. grew its position in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 3.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196,109 shares of the construction company's stock after buying an additional 6,111 shares during the quarter. Sei Investments Co. owned 0.62% of Eagle Materials worth $37,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of EXP. Focus Partners Wealth lifted its holdings in Eagle Materials by 21.5% in the first quarter. Focus Partners Wealth now owns 2,019 shares of the construction company's stock valued at $448,000 after acquiring an additional 357 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Eagle Materials by 102.4% during the 2nd 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 last quarter. First Trust Advisors LP increased its position in shares of Eagle Materials by 5.8% during the 2nd quarter. First Trust Advisors LP now owns 101,969 shares of the construction company's stock valued at $20,609,000 after purchasing an additional 5,612 shares during the last quarter. Baird Financial Group Inc. lifted its stake in shares of Eagle Materials by 8.0% in the 2nd quarter. Baird Financial Group Inc. now owns 1,364 shares of the construction company's stock worth $276,000 after purchasing an additional 101 shares during the period. Finally, Jump Financial LLC lifted its stake in shares of Eagle Materials by 359.9% in the 2nd quarter. Jump Financial LLC now owns 12,510 shares of the construction company's stock worth $2,528,000 after purchasing an additional 9,790 shares during the period. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EXP has been the subject of several recent research reports. Wells Fargo & Company cut their target price on shares of Eagle Materials from $246.00 to $240.00 and set an "overweight" rating for the company in a research report on Wednesday, July 8th. Citigroup increased their price target on shares of Eagle Materials from $217.00 to $240.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 8th. Jefferies Financial Group reiterated a "hold" rating and set a $200.00 price target on shares of Eagle Materials in a research note on Wednesday, May 20th. Zacks Research raised shares of Eagle Materials from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 1st. Finally, Wall Street Zen raised Eagle Materials from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $226.00.

Eagle Materials Price Performance

Shares of NYSE:EXP opened at $213.34 on Monday. The company has a market capitalization of $6.59 billion, a P/E ratio of 16.26 and a beta of 1.37. Eagle Materials Inc has a 1-year low of $171.99 and a 1-year high of $245.53. The firm's 50 day simple moving average is $213.86 and its two-hundred day simple moving average is $211.01. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.66 and a quick ratio of 2.09.

Eagle Materials (NYSE:EXP - Get Free Report) last announced its quarterly earnings data on Tuesday, May 19th. The construction company reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.59 by $0.32. The firm had revenue of $479.11 million during the quarter, compared to analysts' expectations of $451.99 million. Eagle Materials had a net margin of 18.36% and a return on equity of 28.27%. The company's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.00 earnings per share. Research analysts expect that Eagle Materials Inc will post 12.9 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Monday, June 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Monday, June 15th. Eagle Materials's dividend payout ratio is presently 7.62%.

About Eagle Materials

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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