SG Americas Securities LLC Reduces Position in Eagle Materials Inc $EXP

Key Points

• SG Americas Securities LLC cut its stake in Eagle Materials by 83.9% in the first quarter, selling 24,662 shares and leaving it with 4,733 shares valued at about $897,000.
• Eagle Materials reported better-than-expected quarterly results, with EPS of $1.91 versus the $1.59 estimate and revenue of $479.11 million, ahead of analyst expectations.
• The stock closed around $220.88, while analysts maintain a Hold consensus with a $224.30 average price target; the company also announced a quarterly dividend of $0.25 per share.

SG Americas Securities LLC trimmed its position in Eagle Materials Inc (NYSE:EXP - Free Report) by 83.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,733 shares of the construction company's stock after selling 24,662 shares during the period. SG Americas Securities LLC's holdings in Eagle Materials were worth $897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Focus Partners Wealth lifted its position in Eagle Materials by 21.5% during the 1st quarter. Focus Partners Wealth now owns 2,019 shares of the construction company's stock worth $448,000 after acquiring an additional 357 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Eagle Materials by 102.4% in the second quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company's stock worth $35,000 after purchasing an additional 87 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Eagle Materials by 5.8% in the second quarter. First Trust Advisors LP now owns 101,969 shares of the construction company's stock worth $20,609,000 after purchasing an additional 5,612 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in shares of Eagle Materials by 8.0% during the second 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 holdings in shares of Eagle Materials by 359.9% during the second 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. Hedge funds and other institutional investors own 96.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Jefferies Financial Group reiterated a "hold" rating and issued a $200.00 price target on shares of Eagle Materials in a report on Wednesday, May 20th. Wells Fargo & Company lifted their price objective on shares of Eagle Materials from $240.00 to $246.00 and gave the company an "overweight" rating in a research note on Wednesday, April 15th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Eagle Materials in a report on Tuesday, June 16th. Stephens cut their price objective on shares of Eagle Materials from $235.00 to $225.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 20th. Finally, Royal Bank Of Canada raised their target price on shares of Eagle Materials from $208.00 to $219.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, Eagle Materials presently has a consensus rating of "Hold" and a consensus price target of $224.30.

Eagle Materials Stock Up 0.3%

Shares of EXP opened at $220.88 on Monday. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of 16.83 and a beta of 1.37. Eagle Materials Inc has a 52 week low of $171.99 and a 52 week high of $245.53. The stock's 50-day moving average price is $213.59 and its 200-day moving average price is $211.72. The company has a quick ratio of 2.09, a current ratio of 3.66 and a debt-to-equity ratio of 1.18.

Eagle Materials (NYSE:EXP - Get Free Report) last announced its quarterly earnings results on Tuesday, May 19th. The construction company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.32. Eagle Materials had a return on equity of 28.27% and a net margin of 18.36%.The company had revenue of $479.11 million during the quarter, compared to analysts' expectations of $451.99 million. During the same period last year, the business earned $2.00 earnings per share. Eagle Materials's quarterly revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts predict that Eagle Materials Inc will post 13.02 EPS for the current year.

Eagle Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, June 15th. Eagle Materials's payout ratio is 7.62%.

Eagle Materials 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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