Sprucegrove Investment Management Ltd. Makes New Investment in Eagle Materials Inc $EXP

Sprucegrove Investment Management Ltd. bought a new position in Eagle Materials Inc (NYSE:EXP) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 600 shares of the construction company’s stock, valued at approximately $121,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in Eagle Materials by 18.8% during the first quarter. JPMorgan Chase & Co. now owns 2,140,621 shares of the construction company’s stock worth $475,068,000 after purchasing an additional 339,089 shares during the last quarter. Baupost Group LLC MA increased its holdings in shares of Eagle Materials by 42.5% during the 1st quarter. Baupost Group LLC MA now owns 909,633 shares of the construction company’s stock worth $201,875,000 after buying an additional 271,410 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Eagle Materials by 57.2% during the 2nd quarter. William Blair Investment Management LLC now owns 611,745 shares of the construction company’s stock valued at $123,640,000 after buying an additional 222,537 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in Eagle Materials by 198.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 306,990 shares of the construction company’s stock valued at $62,046,000 after acquiring an additional 204,060 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Eagle Materials by 193.4% in the first quarter. American Century Companies Inc. now owns 288,123 shares of the construction company’s stock worth $63,944,000 after acquiring an additional 189,909 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Analyst Upgrades and Downgrades

EXP has been the topic of a number of research analyst reports. DA Davidson reduced their target price on Eagle Materials from $245.00 to $225.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Citigroup reduced their price objective on shares of Eagle Materials from $255.00 to $233.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Wells Fargo & Company lowered their target price on shares of Eagle Materials from $261.00 to $251.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. JPMorgan Chase & Co. boosted their price target on shares of Eagle Materials from $220.00 to $245.00 and gave the company a “neutral” rating in a research note on Tuesday, August 26th. Finally, Loop Capital lifted their target price on shares of Eagle Materials from $230.00 to $245.00 and gave the company a “hold” rating in a report on Wednesday, July 30th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $244.80.

Eagle Materials Price Performance

Eagle Materials stock opened at $207.22 on Thursday. The company has a quick ratio of 1.26, a current ratio of 2.73 and a debt-to-equity ratio of 0.87. Eagle Materials Inc has a 52-week low of $191.91 and a 52-week high of $321.93. The firm has a market cap of $6.64 billion, a PE ratio of 15.26 and a beta of 1.31. The company’s 50 day moving average is $230.83 and its two-hundred day moving average is $222.65.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Thursday, October 30th. The construction company reported $4.23 earnings per share for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.12). The company had revenue of $638.91 million for the quarter, compared to analysts’ expectations of $635.55 million. Eagle Materials had a return on equity of 31.21% and a net margin of 19.81%.The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $4.31 EPS. On average, research analysts expect that Eagle Materials Inc will post 14.39 EPS for the current fiscal year.

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.