Novem Group Acquires New Shares in Eagle Materials Inc $EXP

Novem Group bought a new stake in Eagle Materials Inc (NYSE:EXP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,731 shares of the construction company’s stock, valued at approximately $754,000.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of Eagle Materials by 18.8% in the first quarter. JPMorgan Chase & Co. now owns 2,140,621 shares of the construction company’s stock valued at $475,068,000 after acquiring an additional 339,089 shares in the last quarter. Baupost Group LLC MA raised its position in Eagle Materials by 42.5% in the 1st quarter. Baupost Group LLC MA now owns 909,633 shares of the construction company’s stock valued at $201,875,000 after purchasing an additional 271,410 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Eagle Materials by 10.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 576,249 shares of the construction company’s stock valued at $127,876,000 after buying an additional 54,324 shares during the period. Victory Capital Management Inc. grew its position in shares of Eagle Materials by 111.1% during the first quarter. Victory Capital Management Inc. now owns 331,081 shares of the construction company’s stock worth $73,477,000 after buying an additional 174,241 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Eagle Materials by 193.4% during the first quarter. American Century Companies Inc. now owns 288,123 shares of the construction company’s stock worth $63,944,000 after buying 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

Several research firms have recently issued reports on EXP. JPMorgan Chase & Co. lifted their price objective on shares of Eagle Materials from $220.00 to $245.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 26th. Loop Capital lifted their price target on Eagle Materials from $230.00 to $245.00 and gave the stock a “hold” rating in a report on Wednesday, July 30th. Finally, Wall Street Zen raised Eagle Materials from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Eagle Materials currently has a consensus rating of “Hold” and a consensus price target of $254.78.

Eagle Materials Stock Performance

Shares of EXP stock opened at $232.75 on Friday. Eagle Materials Inc has a 52-week low of $191.91 and a 52-week high of $321.93. The stock’s 50-day moving average price is $229.33 and its 200 day moving average price is $220.58. 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 capitalization of $7.55 billion, a PE ratio of 17.14 and a beta of 1.28.

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, beating analysts’ consensus estimates of $3.73 by $0.03. Eagle Materials had a net margin of 19.81% and a return on equity of 31.21%. The firm had revenue of $634.69 million for the quarter, compared to analyst estimates of $611.52 million. As a group, equities research analysts forecast that Eagle Materials Inc will post 14.39 EPS for the current year.

Eagle Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Monday, September 15th will be given a $0.25 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.4%. Eagle Materials’s dividend payout ratio is currently 7.36%.

Eagle Materials 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.