UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $14.35 Million Stock Position in Eagle Materials Inc $EXP

Key Points

• UBS AM reduced its Eagle Materials position by 8.7% in the second quarter, selling 6,081 shares and retaining 63,755 shares worth approximately $14.35 million. Institutional investors collectively own 96.07% of the company.
• Analysts maintain a largely cautious outlook, with one Buy rating and nine Holds. Eagle Materials has a consensus “Hold” rating and an average price target of $223.67.
• Eagle Materials reported quarterly EPS of $3.29, below the $3.37 consensus, while revenue rose 2.6% year over year to $650.97 million. The company also declared a quarterly dividend of $0.25 per share, representing a 0.5% annualized yield.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 8.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,755 shares of the construction company's stock after selling 6,081 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.21% of Eagle Materials worth $14,345,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Eagle Materials during the 2nd quarter worth about $688,486,000. W1M Asset Management Ltd acquired a new stake in shares of Eagle Materials during the 2nd quarter worth approximately $155,199,000. William Blair Investment Management LLC bought a new stake in shares of Eagle Materials during the second quarter worth approximately $129,760,000. Black Creek Investment Management Inc. acquired a new position in Eagle Materials in the fourth quarter valued at approximately $103,778,000. Finally, Norges Bank bought a new position in Eagle Materials in the fourth quarter valued at approximately $90,147,000. Institutional investors own 96.07% of the company's stock.

Analysts Set New Price Targets

EXP has been the subject of several recent research reports. JPMorgan Chase & Co. upgraded shares of Eagle Materials from an "underweight" rating to a "neutral" rating and set a $225.00 target price for the company in a research report on Tuesday, June 2nd. Royal Bank Of Canada lifted their price objective on Eagle Materials from $208.00 to $219.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 20th. Jefferies Financial Group reissued a "hold" rating and issued a $200.00 target price on shares of Eagle Materials in a research note on Wednesday, May 20th. DA Davidson started coverage on Eagle Materials in a research report on Monday, August 24th. They set a "neutral" rating and a $220.00 target price for the company. Finally, Stephens increased their price target on shares of Eagle Materials from $225.00 to $230.00 and gave the company an "equal weight" rating in a research report on Thursday, July 30th. One analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Eagle Materials has a consensus rating of "Hold" and an average target price of $223.67.

Eagle Materials Trading Up 0.4%

EXP opened at $194.33 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 stock has a market capitalization of $5.96 billion, a P/E ratio of 15.36 and a beta of 1.36. The firm's fifty day simple moving average is $208.15 and its 200 day simple moving average is $207.10. 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.37 by ($0.08). The firm had revenue of $650.97 million during the quarter, compared to analyst estimates of $620.35 million. Eagle Materials had a net margin of 17.32% and a return on equity of 26.87%. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.76 EPS. As a group, research analysts anticipate that Eagle Materials Inc will post 12.66 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Monday, September 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, September 14th. Eagle Materials's payout ratio is 7.91%.

Insider Transactions at Eagle Materials

In other news, SVP Tony Thompson sold 3,074 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the senior vice president directly owned 10,142 shares of the company's stock, valued at $2,068,562.32. This trade represents a 23.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.70% of the stock is owned by corporate insiders.

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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