Squarepoint Ops LLC Acquires 7,155 Shares of Eagle Materials Inc $EXP

Key Points

• Squarepoint Ops LLC increased its Eagle Materials stake by 87.2% in the second quarter, purchasing 7,155 additional shares for a total holding of 15,356 shares valued at approximately $3.46 million. Institutional investors collectively own 96.07% of the company.
• Eagle Materials reported quarterly revenue of $650.97 million, exceeding expectations, but earnings of $3.29 per share fell short of the $3.37 consensus estimate. Revenue rose 2.6% year over year.
• Analysts remain cautious, with the stock carrying a consensus “Reduce” rating and a $219.78 price target. Eagle Materials also announced a quarterly dividend of $0.25 per share, representing a 0.5% yield.

Squarepoint Ops LLC lifted its holdings in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 87.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,356 shares of the construction company's stock after buying an additional 7,155 shares during the period. Squarepoint Ops LLC owned approximately 0.05% of Eagle Materials worth $3,455,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Clearstead Advisors LLC lifted its stake in Eagle Materials by 266.7% during the 4th quarter. Clearstead Advisors LLC now owns 132 shares of the construction company's stock valued at $27,000 after acquiring an additional 96 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Eagle Materials during the 4th quarter valued at about $29,000. IFP Advisors Inc grew its stake in shares of Eagle Materials by 389.3% in the fourth quarter. IFP Advisors Inc now owns 137 shares of the construction company's stock worth $28,000 after acquiring an additional 109 shares during the period. Measured Wealth Private Client Group LLC bought a new stake in shares of Eagle Materials in the third quarter worth approximately $34,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Eagle Materials by 102.4% during the second 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. 96.07% of the stock is currently owned by institutional investors.

Eagle Materials Stock Performance

EXP opened at $185.03 on Friday. The company has a current ratio of 3.23, a quick ratio of 1.91 and a debt-to-equity ratio of 1.17. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 14.63 and a beta of 1.36. The company's 50 day moving average is $204.69 and its 200 day moving average is $205.53. Eagle Materials Inc has a 12-month low of $171.99 and a 12-month high of $245.53.

Eagle Materials (NYSE:EXP - Get Free Report) last announced its earnings results on Wednesday, July 29th. The construction company reported $3.29 EPS for the quarter, missing analysts' consensus estimates of $3.37 by ($0.08). Eagle Materials had a net margin of 17.32% and a return on equity of 26.87%. The business had revenue of $650.97 million for the quarter, compared to analysts' expectations of $620.35 million. During the same period in the prior year, the company posted $3.76 earnings per share. The firm's quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts predict that Eagle Materials Inc will post 12.66 EPS for the current year.

Eagle Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Monday, September 14th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, September 14th. Eagle Materials's dividend payout ratio is 7.91%.

Insider Buying and Selling

In related news, SVP Tony Thompson sold 3,074 shares of the firm's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $203.96, for a total value of $626,973.04. Following the transaction, the senior vice president directly owned 10,142 shares of the company's stock, valued at approximately $2,068,562.32. This trade represents a 23.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Eagle Materials from an "underweight" rating to a "neutral" rating and set a $225.00 price objective on the stock in a research report on Tuesday, June 2nd. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $196.00 target price (down from $231.00) on shares of Eagle Materials in a research report on Wednesday. Wall Street Zen raised Eagle Materials from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Zacks Research cut Eagle Materials from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Eagle Materials in a report on Tuesday, June 16th. Nine equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Eagle Materials presently has a consensus rating of "Reduce" and a consensus price target of $219.78.

About Eagle Materials

Eagle Materials Inc NYSE: EXP is a U.S.-based manufacturer of essential building materials used in residential, commercial and infrastructure construction. The company produces and distributes cement, ready-mix concrete, crushed stone and sand, as well as gypsum wallboard.

Its cement business supplies materials for concrete production and construction projects, while its concrete and aggregates operations provide ready-mix concrete and construction aggregates. Through its American Gypsum operations, Eagle Materials manufactures gypsum wallboard used in interior walls and ceilings.

Headquartered in Dallas, Texas, Eagle Materials serves regional construction markets primarily across the United States, with operations concentrated in states including Texas, Colorado, Nevada and Oklahoma.

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