Eagle Materials Inc $EXP Shares Purchased by Synovus Financial Corp

Key Points

• Synovus Financial Corp increased its stake in Eagle Materials by 59%, acquiring an additional 1,815 shares during the first quarter, bringing its total holdings to 4,891 shares valued at approximately $1,086,000.
• Eagle Materials reported a quarterly earnings of $3.76 per share, surpassing analysts' expectations, with revenue of $634.69 million against a consensus estimate of $611.52 million.
• The company announced a quarterly dividend of $0.25, scheduled for payment on October 16, highlighting a low dividend payout ratio of 7.36%.

Synovus Financial Corp raised its stake in Eagle Materials Inc (NYSE:EXP - Free Report) by 59.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,891 shares of the construction company's stock after buying an additional 1,815 shares during the period. Synovus Financial Corp's holdings in Eagle Materials were worth $1,086,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hsbc Holdings PLC boosted its position in Eagle Materials by 6.0% during the 4th quarter. Hsbc Holdings PLC now owns 973 shares of the construction company's stock valued at $240,000 after buying an additional 55 shares during the period. Northern Trust Corp grew its stake in shares of Eagle Materials by 8.9% in the fourth quarter. Northern Trust Corp now owns 286,766 shares of the construction company's stock worth $70,762,000 after acquiring an additional 23,355 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in shares of Eagle Materials in the fourth quarter worth approximately $619,000. LGT Financial Advisors LLC grew its stake in shares of Eagle Materials by 233.1% in the fourth quarter. LGT Financial Advisors LLC now owns 443 shares of the construction company's stock worth $109,000 after acquiring an additional 310 shares during the period. Finally, ArrowMark Colorado Holdings LLC purchased a new position in shares of Eagle Materials in the fourth quarter worth approximately $28,778,000. Institutional investors own 96.07% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on EXP shares. DA Davidson lowered their price target on shares of Eagle Materials from $260.00 to $245.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. The Goldman Sachs Group set a $242.00 price target on shares of Eagle Materials and gave the stock a "buy" rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. boosted their price target on shares of Eagle Materials from $220.00 to $245.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 26th. Stephens set a $255.00 price objective on shares of Eagle Materials and gave the company an "overweight" rating in a research report on Thursday, May 22nd. Finally, Loop Capital boosted their target price on shares of Eagle Materials from $230.00 to $245.00 and gave the company a "hold" rating in a research note on Wednesday, July 30th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $254.78.

Eagle Materials Stock Up 0.0%

Shares of EXP traded up $0.07 during mid-day trading on Monday, hitting $230.56. 274,962 shares of the company traded hands, compared to its average volume of 311,441. Eagle Materials Inc has a 1-year low of $191.91 and a 1-year high of $321.93. The business has a 50 day moving average of $221.55 and a 200 day moving average of $219.97. The company has a quick ratio of 1.26, a current ratio of 2.73 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $7.48 billion, a PE ratio of 16.98 and a beta of 1.28.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The construction company reported $3.76 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.03. Eagle Materials had a net margin of 19.81% and a return on equity of 31.21%. The company had revenue of $634.69 million for the quarter, compared to the consensus estimate of $611.52 million. Equities research analysts anticipate that Eagle Materials Inc will post 14.39 EPS for the current year.

Eagle Materials Announces Dividend

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 dividend of $0.25 per share. 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 (DPR) is presently 7.36%.

Eagle Materials Profile

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.