Bessemer Group Inc. Reduces Stock Holdings in Eagle Materials Inc $EXP

Bessemer Group Inc. trimmed its holdings in shares of Eagle Materials Inc (NYSE:EXP) by 52.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,785 shares of the construction company’s stock after selling 2,006 shares during the quarter. Bessemer Group Inc.’s holdings in Eagle Materials were worth $361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in Eagle Materials by 18.8% during the 1st quarter. JPMorgan Chase & Co. now owns 2,140,621 shares of the construction company’s stock worth $475,068,000 after acquiring an additional 339,089 shares during the period. Baupost Group LLC MA lifted its holdings in shares of 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 buying an additional 271,410 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Eagle Materials by 4.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 734,541 shares of the construction company’s stock valued at $153,607,000 after buying an additional 28,559 shares during the period. William Blair Investment Management LLC lifted its holdings in shares of Eagle Materials by 57.2% in the 2nd quarter. William Blair Investment Management LLC now owns 611,745 shares of the construction company’s stock valued at $123,640,000 after buying an additional 222,537 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings 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. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on EXP shares. DA Davidson decreased their price objective on Eagle Materials from $245.00 to $225.00 and set a “neutral” rating for the company in a report on Friday. Stifel Nicolaus set a $246.00 price objective on Eagle Materials in a report on Monday, October 27th. Loop Capital boosted their price objective on Eagle Materials from $230.00 to $245.00 and gave the company a “hold” rating in a report on Wednesday, July 30th. Wall Street Zen raised Eagle Materials from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Wells Fargo & Company decreased their price objective on Eagle Materials from $261.00 to $251.00 and set an “overweight” rating for the company in a report on Friday. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Eagle Materials currently has a consensus rating of “Hold” and a consensus price target of $253.20.

Eagle Materials Price Performance

Shares of Eagle Materials stock opened at $212.40 on Monday. The company has a quick ratio of 1.26, a current ratio of 2.73 and a debt-to-equity ratio of 0.87. Eagle Materials Inc has a twelve month low of $191.91 and a twelve month high of $321.93. The business has a 50-day moving average price of $232.61 and a 200 day moving average price of $222.89. The firm has a market cap of $6.89 billion, a PE ratio of 15.64 and a beta of 1.31.

Eagle Materials (NYSE:EXP) last announced its earnings results on Thursday, October 30th. The construction company reported $4.23 EPS for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.12). Eagle Materials had a net margin of 19.81% and a return on equity of 31.21%. The firm had revenue of $638.91 million for the quarter, compared to analyst estimates of $635.55 million. During the same period in the previous year, the company earned $4.31 EPS. Eagle Materials’s revenue was up 2.5% compared to the same quarter last year. Sell-side analysts predict that Eagle Materials Inc will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Stockholders of record on Monday, September 15th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, September 15th. Eagle Materials’s dividend payout ratio (DPR) is 7.38%.

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.