Westport Asset Management Inc. Acquires Shares of 8,000 Eagle Materials Inc $EXP

Key Points

• Westport Asset Management acquired 8,000 shares of Eagle Materials during the second quarter, valued at approximately $1.8 million. Institutional investors collectively own 96.07% of the company.
• Analyst sentiment remains cautious, with one Buy rating and nine Holds. Eagle Materials has a consensus rating of Hold and an average price target of $222.56.
• The company reported quarterly revenue of $650.97 million, above estimates, but earnings per share of $3.29 fell short of expectations. Eagle Materials also declared a quarterly dividend of $0.25 per share, equivalent to a 0.5% yield.

Westport Asset Management Inc. purchased a new stake in Eagle Materials Inc (NYSE:EXP - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,000 shares of the construction company's stock, valued at approximately $1,800,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Clearstead Advisors LLC lifted its position in Eagle Materials by 266.7% in the fourth 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 last quarter. Los Angeles Capital Management LLC purchased a new stake in Eagle Materials during the 4th quarter valued at approximately $29,000. IFP Advisors Inc raised its stake in shares of Eagle Materials by 389.3% during the fourth quarter. IFP Advisors Inc now owns 137 shares of the construction company's stock worth $28,000 after purchasing an additional 109 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of Eagle Materials in the 3rd quarter worth $34,000. Finally, EverSource Wealth Advisors LLC lifted its position in Eagle Materials by 102.4% in 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 period. Institutional investors and hedge funds own 96.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Zacks Research lowered shares of Eagle Materials from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Royal Bank Of Canada upped their price objective on Eagle Materials from $208.00 to $219.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 20th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $200.00 target price on shares of Eagle Materials in a research note on Wednesday, May 20th. Wall Street Zen raised shares of Eagle Materials from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, Citigroup cut their price objective on Eagle Materials from $240.00 to $232.00 and set a "neutral" rating on the stock in a report on Monday, August 10th. One research analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Eagle Materials has an average rating of "Hold" and a consensus price target of $222.56.

Eagle Materials Price Performance

EXP stock opened at $206.00 on Thursday. The company has a market capitalization of $6.32 billion, a PE ratio of 16.28 and a beta of 1.38. The stock's 50 day moving average is $214.18 and its two-hundred day moving average is $209.17. The company has a quick ratio of 1.91, a current ratio of 3.23 and a debt-to-equity ratio of 1.17. Eagle Materials Inc has a 52-week low of $171.99 and a 52-week high of $245.53.

Eagle Materials (NYSE:EXP - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $650.97 million for the quarter, compared to the consensus estimate of $620.35 million. During the same quarter last year, the company earned $3.76 earnings per share. The company's revenue was up 2.6% compared to the same quarter last year. Analysts predict that Eagle Materials Inc will post 12.66 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 Tuesday, October 13th. Investors of record on Monday, September 14th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, September 14th. This represents a $1.00 annualized dividend and a yield of 0.5%. Eagle Materials's dividend payout ratio (DPR) is 7.91%.

Eagle Materials Profile

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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