Redwood Investment Management LLC Acquires Shares of 5,701 Eagle Materials Inc $EXP

Redwood Investment Management LLC purchased a new stake in Eagle Materials Inc (NYSE:EXP) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 5,701 shares of the construction company’s stock, valued at approximately $1,080,000.

Several other hedge funds have also modified their holdings of the company. Black Creek Investment Management Inc. purchased a new stake in Eagle Materials in the 4th quarter worth $103,778,000. Norges Bank purchased a new position in Eagle Materials during the fourth quarter valued at $90,147,000. Baupost Group LLC MA lifted its holdings in Eagle Materials by 39.0% during the third quarter. Baupost Group LLC MA now owns 939,660 shares of the construction company’s stock valued at $218,978,000 after purchasing an additional 263,403 shares in the last quarter. Earnest Partners LLC acquired a new stake in shares of Eagle Materials in the fourth quarter valued at about $52,674,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Eagle Materials in the third quarter valued at about $51,812,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Zacks Research cut shares of Eagle Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Stephens raised their price target on shares of Eagle Materials from $225.00 to $230.00 and gave the company an “equal weight” rating in a research note on Thursday. Royal Bank Of Canada lifted their price objective on Eagle Materials from $208.00 to $219.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Eagle Materials in a research note on Tuesday, June 16th. Finally, Wells Fargo & Company decreased their target price on Eagle Materials from $240.00 to $231.00 and set an “overweight” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Eagle Materials presently has a consensus rating of “Hold” and an average target price of $223.44.

Eagle Materials Trading Up 0.2%

Shares of EXP opened at $205.45 on Monday. Eagle Materials Inc has a 52-week low of $171.99 and a 52-week high of $245.53. The stock has a market cap of $6.30 billion, a PE ratio of 16.24 and a beta of 1.39. The firm’s fifty day moving average is $215.16 and its two-hundred day moving average is $210.57. The company has a quick ratio of 1.91, a current ratio of 3.23 and a debt-to-equity ratio of 1.17.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.37 by ($0.08). The business had revenue of $650.97 million for the quarter, compared to analysts’ expectations of $620.35 million. Eagle Materials had a net margin of 17.32% and a return on equity of 26.87%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.76 EPS. Research analysts forecast that Eagle Materials Inc will post 12.66 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, June 15th were given a $0.25 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Eagle Materials’s dividend payout ratio is 7.91%.

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.