Mad River Investors Invests $1.55 Million in Eagle Materials Inc. (NYSE:EXP)

Mad River Investors acquired a new stake in Eagle Materials Inc. (NYSE:EXP) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 5,710 shares of the construction company’s stock, valued at approximately $1,552,000. Eagle Materials accounts for about 1.1% of Mad River Investors’ portfolio, making the stock its 15th biggest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EXP. Rise Advisors LLC purchased a new stake in shares of Eagle Materials during the first quarter worth $27,000. Tompkins Financial Corp acquired a new position in Eagle Materials during the first quarter worth about $27,000. Global Wealth Management Investment Advisory Inc. purchased a new stake in Eagle Materials during the 4th quarter valued at about $30,000. Planned Solutions Inc. acquired a new stake in Eagle Materials in the 4th quarter valued at about $35,000. Finally, Evermay Wealth Management LLC purchased a new position in Eagle Materials in the 4th quarter worth approximately $61,000. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Analyst Upgrades and Downgrades

EXP has been the subject of a number of analyst reports. Raymond James upped 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. Citigroup cut their target price on Eagle Materials from $311.00 to $297.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. JPMorgan Chase & Co. boosted their price target on shares of Eagle Materials from $200.00 to $265.00 and gave the company a “neutral” rating in a research report on Friday, March 22nd. Truist Financial raised their price objective 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. Finally, The Goldman Sachs Group boosted their target price on shares of Eagle Materials from $238.00 to $273.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $279.67.

Eagle Materials Trading Up 1.5 %

NYSE:EXP traded up $3.13 during trading hours on Thursday, reaching $217.52. 167,167 shares of the stock were exchanged, compared to its average volume of 328,091. Eagle Materials Inc. has a twelve month low of $145.03 and a twelve month high of $276.61. The business has a 50-day moving average of $238.86 and a two-hundred day moving average of $237.11. The company has a market capitalization of $7.36 billion, a price-to-earnings ratio of 15.97 and a beta of 1.32. The company has a quick ratio of 1.06, a current ratio of 2.62 and a debt-to-equity ratio of 0.83.

Eagle Materials (NYSE:EXP) last issued 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). The business had revenue of $476.70 million for the quarter, compared to analysts’ expectations of $480.20 million. Eagle Materials had a return on equity of 37.31% and a net margin of 21.14%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $2.79 earnings per share. On average, equities analysts predict that Eagle Materials Inc. will post 16.01 EPS for the current year.

Eagle Materials Dividend Announcement

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