Advisors Asset Management Inc. Boosts Stock Position in Eagle Materials Inc. (NYSE:EXP)

Advisors Asset Management Inc. grew its stake in Eagle Materials Inc. (NYSE:EXP) by 13.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,894 shares of the construction company’s stock after purchasing an additional 4,130 shares during the period. Advisors Asset Management Inc. owned approximately 0.10% of Eagle Materials worth $9,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Eagle Bay Advisors LLC lifted its holdings in Eagle Materials by 79.2% in the first quarter. Eagle Bay Advisors LLC now owns 95 shares of the construction company’s stock valued at $26,000 after acquiring an additional 42 shares during the last quarter. YHB Investment Advisors Inc. acquired a new position in shares of Eagle Materials in the 1st quarter valued at $27,000. Tompkins Financial Corp purchased a new position in shares of Eagle Materials during the 1st quarter worth $27,000. Rise Advisors LLC acquired a new stake in shares of Eagle Materials during the 1st quarter worth about $27,000. Finally, Global Wealth Management Investment Advisory Inc. purchased a new stake in Eagle Materials in the 4th quarter valued at about $30,000. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on EXP. Raymond James cut shares of Eagle Materials from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Stifel Nicolaus cut their target price on Eagle Materials from $300.00 to $286.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Stephens upped their price target on Eagle Materials from $250.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. Truist Financial lifted their price objective on Eagle Materials from $290.00 to $320.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Finally, The Goldman Sachs Group raised their target price on Eagle Materials from $238.00 to $273.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $281.00.

Eagle Materials Stock Up 4.4 %

EXP stock traded up $10.45 during mid-day trading on Friday, reaching $246.07. The company had a trading volume of 597,807 shares, compared to its average volume of 313,924. The firm has a fifty day simple moving average of $227.70 and a 200 day simple moving average of $239.67. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.06 and a current ratio of 2.62. The company has a market capitalization of $8.33 billion, a price-to-earnings ratio of 17.28 and a beta of 1.32. Eagle Materials Inc. has a fifty-two week low of $145.03 and a fifty-two week high of $276.61.

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 analysts’ consensus estimates of $2.72 by ($0.48). Eagle Materials had a return on equity of 37.31% and a net margin of 21.14%. The firm had revenue of $476.70 million for the quarter, compared to analysts’ expectations of $480.20 million. During the same quarter in the previous year, the company posted $2.79 earnings per share. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. Analysts forecast that Eagle Materials Inc. will post 15.58 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, June 17th were given a dividend of $0.25 per share. The ex-dividend date was Monday, June 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. Eagle Materials’s dividend payout ratio (DPR) 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.