L1 Capital Pty Ltd Invests $725,000 in Eagle Materials Inc $EXP

L1 Capital Pty Ltd purchased a new stake in shares of Eagle Materials Inc (NYSE:EXP) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,585 shares of the construction company’s stock, valued at approximately $725,000. Eagle Materials comprises 0.0% of L1 Capital Pty Ltd’s portfolio, making the stock its 18th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new position in shares of Eagle Materials in the 2nd quarter worth about $87,626,000. Baupost Group LLC MA raised its position in Eagle Materials by 42.5% in the first quarter. Baupost Group LLC MA now owns 909,633 shares of the construction company’s stock worth $201,875,000 after acquiring an additional 271,410 shares during the period. American Century Companies Inc. boosted its stake in Eagle Materials by 80.9% in the second quarter. American Century Companies Inc. now owns 521,276 shares of the construction company’s stock valued at $105,356,000 after acquiring an additional 233,153 shares during the last quarter. William Blair Investment Management LLC grew its position in shares of Eagle Materials by 57.2% during 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 acquiring an additional 222,537 shares during the period. Finally, Frontier Capital Management Co. LLC grew its position in shares of Eagle Materials by 36.0% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 830,284 shares of the construction company’s stock valued at $167,809,000 after acquiring an additional 219,627 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Insider Buying and Selling

In related news, Director David E. Rush purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were purchased at an average price of $208.08 per share, with a total value of $208,080.00. Following the acquisition, the director directly owned 4,173 shares of the company’s stock, valued at approximately $868,317.84. This represents a 31.52% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on EXP. Zacks Research downgraded Eagle Materials from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. cut their price target on Eagle Materials from $245.00 to $230.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Jefferies Financial Group reissued a “hold” rating and issued a $226.00 price objective on shares of Eagle Materials in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eagle Materials in a report on Monday, December 1st. Finally, Citigroup lowered their price target on shares of Eagle Materials from $255.00 to $233.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Eagle Materials presently has an average rating of “Hold” and a consensus price target of $243.30.

Eagle Materials Trading Up 0.8%

Shares of EXP stock opened at $226.85 on Monday. The company has a market capitalization of $7.27 billion, a PE ratio of 16.74 and a beta of 1.37. Eagle Materials Inc has a 52-week low of $191.91 and a 52-week high of $277.81. The business’s fifty day moving average is $221.09 and its 200 day moving average is $220.56. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.22 and a current ratio of 2.72.

Eagle Materials (NYSE:EXP) last announced its earnings results on Thursday, October 30th. The construction company reported $4.23 earnings per share for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.12). The business had revenue of $638.91 million during the quarter, compared to the consensus estimate of $635.55 million. Eagle Materials had a return on equity of 30.13% and a net margin of 19.41%.Eagle Materials’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.31 earnings per share. On average, equities research analysts anticipate that Eagle Materials Inc will post 14.39 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 12th. Shareholders of record on Monday, December 15th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, December 15th. This represents a $1.00 annualized dividend and a yield of 0.4%. Eagle Materials’s payout ratio is presently 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.