Covestor Ltd Raises Position in Eagle Materials Inc. (NYSE:EXP)

Covestor Ltd lifted its stake in shares of Eagle Materials Inc. (NYSE:EXP) by 17.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 553 shares of the construction company’s stock after buying an additional 82 shares during the quarter. Covestor Ltd’s holdings in Eagle Materials were worth $150,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EXP. Raymond James Trust N.A. acquired a new position in Eagle Materials in the 4th quarter worth $237,000. Raymond James & Associates increased its holdings in Eagle Materials by 6.3% during the 4th quarter. Raymond James & Associates now owns 38,396 shares of the construction company’s stock worth $7,788,000 after purchasing an additional 2,265 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Eagle Materials by 5.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 5,322 shares of the construction company’s stock valued at $1,079,000 after purchasing an additional 269 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Eagle Materials by 20.5% during the 4th quarter. Pacer Advisors Inc. now owns 8,263 shares of the construction company’s stock valued at $1,676,000 after buying an additional 1,407 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its position in shares of Eagle Materials by 5.9% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 95,161 shares of the construction company’s stock worth $19,302,000 after buying an additional 5,300 shares in the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on EXP shares. The Goldman Sachs Group raised their price objective on shares of Eagle Materials from $238.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Loop Capital decreased their price target on shares of Eagle Materials from $310.00 to $305.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. StockNews.com cut shares of Eagle Materials from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Citigroup cut their price target on Eagle Materials from $297.00 to $252.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Finally, Raymond James lowered shares of Eagle Materials from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $281.00.

Eagle Materials Price Performance

NYSE:EXP traded down $6.38 on Wednesday, reaching $233.69. The stock had a trading volume of 61,922 shares, compared to its average volume of 309,416. The company has a quick ratio of 1.06, a current ratio of 2.62 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $7.91 billion, a P/E ratio of 17.40 and a beta of 1.32. Eagle Materials Inc. has a 1-year low of $145.03 and a 1-year high of $276.61. The stock has a fifty day moving average price of $229.09 and a 200-day moving average price of $239.79.

Eagle Materials (NYSE:EXP) last released its quarterly earnings results on Tuesday, May 21st. The construction company reported $2.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.48). Eagle Materials had a net margin of 21.14% and a return on equity of 37.31%. The business had revenue of $476.70 million during the quarter, compared to the consensus estimate of $480.20 million. During the same period in the prior year, the firm earned $2.79 earnings per share. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. Research analysts forecast that Eagle Materials Inc. will post 15.58 EPS for the current year.

Eagle Materials Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, June 17th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Monday, June 17th. Eagle Materials’s dividend payout ratio (DPR) is presently 7.34%.

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.