Eagle Materials Inc. (NYSE:EXP) Holdings Boosted by Ausbil Investment Management Ltd

Ausbil Investment Management Ltd boosted its position in shares of Eagle Materials Inc. (NYSE:EXP) by 23.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,485 shares of the construction company’s stock after purchasing an additional 2,214 shares during the period. Eagle Materials accounts for 1.6% of Ausbil Investment Management Ltd’s investment portfolio, making the stock its 25th biggest holding. Ausbil Investment Management Ltd’s holdings in Eagle Materials were worth $3,099,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EXP. Paralel Advisors LLC boosted its stake in shares of Eagle Materials by 1.1% during the 3rd quarter. Paralel Advisors LLC now owns 13,032 shares of the construction company’s stock valued at $2,170,000 after buying an additional 147 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in Eagle Materials during the third quarter worth $494,000. Envestnet Asset Management Inc. increased its position in Eagle Materials by 31.9% during the third quarter. Envestnet Asset Management Inc. now owns 100,228 shares of the construction company’s stock worth $16,690,000 after buying an additional 24,263 shares during the last quarter. Hsbc Holdings PLC increased its position in Eagle Materials by 30.4% during the third quarter. Hsbc Holdings PLC now owns 10,243 shares of the construction company’s stock worth $1,708,000 after buying an additional 2,388 shares during the last quarter. Finally, LPL Financial LLC increased its position in Eagle Materials by 49.7% during the third quarter. LPL Financial LLC now owns 51,711 shares of the construction company’s stock worth $8,611,000 after buying an additional 17,163 shares during the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on EXP. Truist Financial increased their target price on shares of Eagle Materials from $290.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Stifel Nicolaus lowered their target price on shares of Eagle Materials from $300.00 to $286.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Citigroup lowered their target price on shares of Eagle Materials from $311.00 to $297.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. The Goldman Sachs Group raised their price target on Eagle Materials from $238.00 to $273.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Raymond James raised their price target on Eagle Materials from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $279.67.

Eagle Materials Stock Performance

Shares of NYSE EXP traded up $3.92 during mid-day trading on Friday, hitting $218.92. The company had a trading volume of 13,626 shares, compared to its average volume of 300,798. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.62 and a quick ratio of 1.06. The business’s 50-day simple moving average is $241.38 and its 200-day simple moving average is $236.26. Eagle Materials Inc. has a 12 month low of $145.03 and a 12 month high of $276.61. The firm has a market cap of $7.41 billion, a P/E ratio of 15.79 and a beta of 1.33.

Eagle Materials (NYSE:EXP) last released its earnings results on Tuesday, May 21st. The construction company reported $2.24 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.48). The company had revenue of $476.70 million during the quarter, compared to the consensus estimate of $480.20 million. Eagle Materials had a net margin of 21.14% and a return on equity of 37.31%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.79 EPS. As a group, analysts predict that Eagle Materials Inc. will post 16.07 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, June 17th. Eagle Materials’s dividend payout ratio is 7.34%.

Eagle Materials Company 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.