Envestnet Asset Management Inc. Buys 9,045 Shares of Eagle Materials Inc (NYSE:EXP)

Envestnet Asset Management Inc. lifted its stake in Eagle Materials Inc (NYSE:EXP) by 10.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,328 shares of the construction company’s stock after purchasing an additional 9,045 shares during the period. Envestnet Asset Management Inc. owned about 0.28% of Eagle Materials worth $20,490,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in EXP. OneDigital Investment Advisors LLC lifted its stake in Eagle Materials by 22.5% in the first quarter. OneDigital Investment Advisors LLC now owns 1,504 shares of the construction company’s stock worth $334,000 after acquiring an additional 276 shares during the period. Leeward Investments LLC MA purchased a new stake in Eagle Materials in the first quarter worth about $7,962,000. Principal Financial Group Inc. lifted its stake in Eagle Materials by 165.0% in the first quarter. Principal Financial Group Inc. now owns 206,019 shares of the construction company’s stock worth $45,722,000 after acquiring an additional 128,271 shares during the period. Teacher Retirement System of Texas lifted its stake in Eagle Materials by 234.6% in the first quarter. Teacher Retirement System of Texas now owns 4,905 shares of the construction company’s stock worth $1,089,000 after acquiring an additional 3,439 shares during the period. Finally, Private Trust Co. NA lifted its stake in Eagle Materials by 39.0% in the first quarter. Private Trust Co. NA now owns 285 shares of the construction company’s stock worth $63,000 after acquiring an additional 80 shares during the period. 96.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on EXP. Wall Street Zen lowered shares of Eagle Materials from a “hold” rating to a “sell” rating in a research note on Sunday, July 6th. JPMorgan Chase & Co. lowered their price objective on shares of Eagle Materials from $310.00 to $250.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. The Goldman Sachs Group set a $242.00 price objective on shares of Eagle Materials and gave the stock a “buy” rating in a research note on Wednesday, May 21st. Loop Capital lowered their price objective on shares of Eagle Materials from $245.00 to $237.00 and set a “hold” rating for the company in a research note on Wednesday, May 21st. Finally, Truist Financial decreased their price target on shares of Eagle Materials from $330.00 to $280.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Eagle Materials has an average rating of “Hold” and an average target price of $254.44.

Eagle Materials Stock Performance

EXP stock opened at $211.81 on Thursday. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 15.39 and a beta of 1.26. The firm has a 50-day simple moving average of $211.82 and a two-hundred day simple moving average of $225.74. Eagle Materials Inc has a one year low of $191.91 and a one year high of $321.93. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.03 and a current ratio of 2.73.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings data on Tuesday, May 20th. The construction company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.26). The company had revenue of $470.18 million during the quarter, compared to analysts’ expectations of $483.14 million. Eagle Materials had a net margin of 20.50% and a return on equity of 32.71%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.24 earnings per share. On average, equities analysts forecast that Eagle Materials Inc will post 14.39 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Monday, June 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, June 16th. Eagle Materials’s payout ratio is currently 7.27%.

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.