Mariner Investment Group LLC Makes New $1.01 Million Investment in Eagle Materials Inc $EXP

Mariner Investment Group LLC bought a new stake in Eagle Materials Inc (NYSE:EXP) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 5,000 shares of the construction company’s stock, valued at approximately $1,011,000. Eagle Materials comprises 0.4% of Mariner Investment Group LLC’s investment portfolio, making the stock its 26th biggest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Millennium Management LLC grew its position in Eagle Materials by 18.9% in the fourth quarter. Millennium Management LLC now owns 5,163 shares of the construction company’s stock worth $1,274,000 after acquiring an additional 821 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Eagle Materials by 21.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,523 shares of the construction company’s stock valued at $376,000 after purchasing an additional 266 shares during the last quarter. Central Pacific Bank Trust Division grew its holdings in shares of Eagle Materials by 10.5% during the 1st quarter. Central Pacific Bank Trust Division now owns 840 shares of the construction company’s stock worth $186,000 after purchasing an additional 80 shares during the period. Capital Market Strategies LLC purchased a new stake in Eagle Materials in the 1st quarter valued at about $209,000. Finally, GAMMA Investing LLC boosted its stake in Eagle Materials by 26,787.7% during the first quarter. GAMMA Investing LLC now owns 181,761 shares of the construction company’s stock worth $40,338,000 after buying an additional 181,085 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Loop Capital increased their price objective on shares of Eagle Materials from $230.00 to $245.00 and gave the stock a “hold” rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price target on shares of Eagle Materials from $220.00 to $245.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 26th. Finally, Wall Street Zen raised Eagle Materials from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Eagle Materials currently has an average rating of “Hold” and a consensus target price of $254.78.

Eagle Materials Stock Up 2.2%

Shares of NYSE EXP opened at $232.75 on Friday. The company has a quick ratio of 1.26, a current ratio of 2.73 and a debt-to-equity ratio of 0.87. The stock has a market cap of $7.55 billion, a PE ratio of 17.14 and a beta of 1.28. The business has a 50-day moving average price of $229.33 and a 200 day moving average price of $220.58. Eagle Materials Inc has a 52-week low of $191.91 and a 52-week high of $321.93.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Tuesday, July 29th. The construction company reported $3.76 earnings per share for the quarter, topping analysts’ consensus estimates of $3.73 by $0.03. Eagle Materials had a return on equity of 31.21% and a net margin of 19.81%.The company had revenue of $634.69 million during the quarter, compared to analysts’ expectations of $611.52 million. Equities research analysts forecast that Eagle Materials Inc will post 14.39 earnings per share for the current year.

Eagle Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Monday, September 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.4%. Eagle Materials’s dividend payout ratio (DPR) is 7.36%.

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.