Strs Ohio Takes $1.07 Million Position in Eagle Materials Inc $EXP

Key Points

• Strs Ohio has invested approximately $1.07 million in Eagle Materials Inc by acquiring 4,826 shares in the first quarter.
• Eagle Materials recently reported an earnings per share (EPS) of $3.76, surpassing analysts' expectations of $3.73, with a revenue of $634.69 million for the quarter.
• The company announced a quarterly dividend of $0.25 per share, which is set to be paid on October 16th, resulting in an annualized yield of 0.4%.

Strs Ohio purchased a new stake in shares of Eagle Materials Inc (NYSE:EXP - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,826 shares of the construction company's stock, valued at approximately $1,071,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in Eagle Materials by 18.8% during the first quarter. JPMorgan Chase & Co. now owns 2,140,621 shares of the construction company's stock worth $475,068,000 after acquiring an additional 339,089 shares in the last quarter. Baupost Group LLC MA grew its stake in shares of Eagle Materials by 42.5% in the first quarter. Baupost Group LLC MA now owns 909,633 shares of the construction company's stock worth $201,875,000 after acquiring an additional 271,410 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Eagle Materials by 193.4% during the first quarter. American Century Companies Inc. now owns 288,123 shares of the construction company's stock valued at $63,944,000 after acquiring an additional 189,909 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Eagle Materials by 26,787.7% in the 1st quarter. GAMMA Investing LLC now owns 181,761 shares of the construction company's stock worth $40,338,000 after purchasing an additional 181,085 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Eagle Materials by 111.1% in the 1st quarter. Victory Capital Management Inc. now owns 331,081 shares of the construction company's stock worth $73,477,000 after purchasing an additional 174,241 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Stock Performance

Shares of EXP traded down $2.90 on Monday, reaching $228.33. The company's stock had a trading volume of 401,319 shares, compared to its average volume of 345,996. The stock's 50 day simple moving average is $228.15 and its two-hundred day simple moving average is $220.26. The stock has a market capitalization of $7.41 billion, a P/E ratio of 16.81 and a beta of 1.28. Eagle Materials Inc has a 12-month low of $191.91 and a 12-month 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.

Eagle Materials (NYSE:EXP - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The construction company reported $3.76 EPS 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 firm had revenue of $634.69 million during the quarter, compared to analyst estimates of $611.52 million. Research analysts forecast that Eagle Materials Inc will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have weighed in on EXP. Citigroup reduced their price objective on shares of Eagle Materials from $279.00 to $230.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Loop Capital boosted their price objective on shares of Eagle Materials from $230.00 to $245.00 and gave the stock a "hold" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. increased their target price on Eagle Materials from $220.00 to $245.00 and gave the company a "neutral" rating in a research note on Tuesday, August 26th. Finally, Wall Street Zen raised Eagle Materials from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $254.78.

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.