Eagle Materials Inc $EXP Shares Bought by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC boosted its position in shares of Eagle Materials Inc (NYSE:EXP) by 30.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,599 shares of the construction company’s stock after buying an additional 28,262 shares during the period. ArrowMark Colorado Holdings LLC owned 0.38% of Eagle Materials worth $28,337,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. increased its position in shares of Eagle Materials by 14.6% during the third quarter. Principal Financial Group Inc. now owns 511,372 shares of the construction company’s stock worth $119,179,000 after purchasing an additional 65,072 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Eagle Materials by 61.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 500,474 shares of the construction company’s stock valued at $116,630,000 after purchasing an additional 189,725 shares in the last quarter. Osaic Holdings Inc. boosted its stake in Eagle Materials by 486.7% during the 2nd quarter. Osaic Holdings Inc. now owns 14,252 shares of the construction company’s stock worth $3,047,000 after purchasing an additional 11,823 shares during the last quarter. Intech Investment Management LLC boosted its stake in Eagle Materials by 212.9% during the 2nd quarter. Intech Investment Management LLC now owns 7,610 shares of the construction company’s stock worth $1,538,000 after purchasing an additional 5,178 shares during the last quarter. Finally, Caxton Associates LLP purchased a new stake in shares of Eagle Materials during the second quarter worth $2,001,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

Eagle Materials Price Performance

NYSE:EXP opened at $186.45 on Friday. Eagle Materials Inc has a 52 week low of $184.08 and a 52 week high of $243.64. The company has a quick ratio of 2.68, a current ratio of 4.27 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $5.86 billion, a P/E ratio of 14.11 and a beta of 1.35. The stock’s fifty day moving average is $220.75 and its two-hundred day moving average is $222.47.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Thursday, January 29th. The construction company reported $3.22 EPS for the quarter, missing the consensus estimate of $3.32 by ($0.10). The business had revenue of $555.96 million during the quarter, compared to analyst estimates of $556.41 million. Eagle Materials had a net margin of 18.70% and a return on equity of 28.96%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the company earned $3.59 EPS. Equities analysts expect that Eagle Materials Inc will post 14.39 EPS for the current year.

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Monday, March 16th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Eagle Materials’s dividend payout ratio (DPR) is currently 7.57%.

Analyst Ratings Changes

EXP has been the subject of a number of recent research reports. Wells Fargo & Company reduced their target price on shares of Eagle Materials from $251.00 to $241.00 and set an “overweight” rating for the company in a research report on Thursday, January 29th. Wall Street Zen raised shares of Eagle Materials from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. DA Davidson cut their price objective on shares of Eagle Materials from $225.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, February 2nd. Truist Financial reissued a “hold” rating and issued a $210.00 target price (down from $280.00) on shares of Eagle Materials in a research note on Friday, December 19th. Finally, Citigroup lowered their target price on Eagle Materials from $232.00 to $224.00 and set a “neutral” rating on the stock in a report on Tuesday, February 3rd. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $228.36.

Eagle Materials Profile

Eagle Materials Inc (NYSE:EXP) is a Dallas, Texas–based manufacturer of building materials serving construction and heavy industry markets across the United States. The company’s primary products include portland and masonry cements, gypsum wallboard, lightweight aggregate, paperboard packaging, and roofing granules. These product lines support a wide range of end uses—from residential and commercial buildings to infrastructure projects and industrial applications.

Since its spin-off from a major homebuilding company in 2004, Eagle Materials has grown through targeted facility expansions and strategic acquisitions.