Fifth Third Bancorp Buys 25,121 Shares of Eagle Materials Inc $EXP

Fifth Third Bancorp boosted its stake in shares of Eagle Materials Inc (NYSE:EXP) by 5,116.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 25,612 shares of the construction company’s stock after buying an additional 25,121 shares during the period. Fifth Third Bancorp’s holdings in Eagle Materials were worth $4,852,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Focus Partners Wealth lifted its holdings in shares of Eagle Materials by 21.5% in the 1st quarter. Focus Partners Wealth now owns 2,019 shares of the construction company’s stock worth $448,000 after acquiring an additional 357 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Eagle Materials by 102.4% in the second quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company’s stock worth $35,000 after purchasing an additional 87 shares during the period. First Trust Advisors LP increased its stake in Eagle Materials by 5.8% in the second quarter. First Trust Advisors LP now owns 101,969 shares of the construction company’s stock worth $20,609,000 after purchasing an additional 5,612 shares during the period. Baird Financial Group Inc. lifted its position in shares of Eagle Materials by 8.0% during the second quarter. Baird Financial Group Inc. now owns 1,364 shares of the construction company’s stock worth $276,000 after purchasing an additional 101 shares during the last quarter. Finally, Jump Financial LLC boosted its stake in shares of Eagle Materials by 359.9% during the second quarter. Jump Financial LLC now owns 12,510 shares of the construction company’s stock valued at $2,528,000 after purchasing an additional 9,790 shares during the period. 96.07% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Stock Down 3.7%

Shares of Eagle Materials stock opened at $206.13 on Friday. The company has a quick ratio of 2.09, a current ratio of 3.66 and a debt-to-equity ratio of 1.18. The company has a market cap of $6.37 billion, a P/E ratio of 15.71 and a beta of 1.37. The firm’s 50 day moving average price is $213.33 and its 200-day moving average price is $211.16. Eagle Materials Inc has a 52-week low of $171.99 and a 52-week high of $245.53.

Eagle Materials (NYSE:EXP) last posted its earnings results on Tuesday, May 19th. The construction company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.32. The company had revenue of $479.11 million during the quarter, compared to analysts’ expectations of $451.99 million. Eagle Materials had a net margin of 18.36% and a return on equity of 28.27%. Eagle Materials’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.00 earnings per share. On average, sell-side analysts predict that Eagle Materials Inc will post 12.9 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, June 15th will be given a $0.25 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Eagle Materials’s dividend payout ratio is currently 7.62%.

Analysts Set New Price Targets

EXP has been the topic of several research analyst reports. Citigroup increased their price objective on Eagle Materials from $217.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Jefferies Financial Group reiterated a “hold” rating and issued a $200.00 target price on shares of Eagle Materials in a report on Wednesday, May 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Eagle Materials in a research report on Tuesday, June 16th. Wells Fargo & Company dropped their price target on Eagle Materials from $246.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. raised shares of Eagle Materials from an “underweight” rating to a “neutral” rating and set a $225.00 price target for the company in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $226.00.

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.