Vaughan Nelson Investment Management L.P. Purchases New Stake in Eagle Materials Inc (NYSE:EXP)

Vaughan Nelson Investment Management L.P. bought a new stake in shares of Eagle Materials Inc (NYSE:EXP - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 102,930 shares of the construction company's stock, valued at approximately $22,843,000. Vaughan Nelson Investment Management L.P. owned about 0.31% of Eagle Materials at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in EXP. Two Sigma Advisers LP increased its holdings in Eagle Materials by 8.7% during the fourth quarter. Two Sigma Advisers LP now owns 22,400 shares of the construction company's stock worth $5,527,000 after buying an additional 1,800 shares during the last quarter. ArrowMark Colorado Holdings LLC purchased a new stake in shares of Eagle Materials during the 4th quarter worth approximately $28,778,000. Two Sigma Investments LP raised its holdings in shares of Eagle Materials by 329.5% in the 4th quarter. Two Sigma Investments LP now owns 24,296 shares of the construction company's stock worth $5,995,000 after purchasing an additional 18,639 shares during the period. Proficio Capital Partners LLC purchased a new position in Eagle Materials in the fourth quarter valued at approximately $8,890,000. Finally, Empowered Funds LLC grew its holdings in Eagle Materials by 242.4% during the fourth quarter. Empowered Funds LLC now owns 7,789 shares of the construction company's stock valued at $1,922,000 after purchasing an additional 5,514 shares during the period. 96.07% of the stock is currently owned by institutional investors.

Eagle Materials Price Performance

Shares of EXP stock traded up $2.61 during trading hours on Wednesday, hitting $196.29. 334,278 shares of the company's stock were exchanged, compared to its average volume of 348,839. The company has a market capitalization of $6.42 billion, a PE ratio of 14.26 and a beta of 1.28. The company has a current ratio of 2.73, a quick ratio of 1.03 and a debt-to-equity ratio of 0.84. Eagle Materials Inc has a 12-month low of $192.16 and a 12-month high of $321.93. The business's 50 day simple moving average is $217.17 and its 200-day simple moving average is $234.50.

Eagle Materials (NYSE:EXP - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The construction company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.26). Eagle Materials had a return on equity of 32.71% and a net margin of 20.50%. The business had revenue of $470.18 million during the quarter, compared to the consensus estimate of $483.14 million. During the same period in the prior year, the firm earned $2.24 earnings per share. The business's revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities research analysts anticipate that Eagle Materials Inc will post 14.39 earnings per share for the current year.

Eagle Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Monday, June 16th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.51%. The ex-dividend date is Monday, June 16th. Eagle Materials's dividend payout ratio is presently 7.27%.

Analysts Set New Price Targets

A number of brokerages have recently commented on EXP. JPMorgan Chase & Co. dropped their price target on Eagle Materials from $310.00 to $250.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. Truist Financial cut their target price on shares of Eagle Materials from $330.00 to $280.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Stifel Nicolaus set a $241.00 price target on shares of Eagle Materials and gave the company a "hold" rating in a research report on Wednesday, May 21st. DA Davidson dropped their price target on shares of Eagle Materials from $260.00 to $245.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Finally, Stephens set a $255.00 price objective on shares of Eagle Materials and gave the company an "overweight" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $254.44.

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.