Financial Harvest LLC Takes Position in Eagle Materials Inc (NYSE:EXP)

Financial Harvest LLC acquired a new position in Eagle Materials Inc (NYSE:EXP) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 65,257 shares of the construction company’s stock, valued at approximately $14,482,000. Eagle Materials makes up 9.6% of Financial Harvest LLC’s portfolio, making the stock its 4th largest position. Financial Harvest LLC owned about 0.20% of Eagle Materials at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Bridges Investment Management Inc. boosted its stake in Eagle Materials by 111.4% in the 1st quarter. Bridges Investment Management Inc. now owns 6,918 shares of the construction company’s stock valued at $1,535,000 after buying an additional 3,645 shares in the last quarter. Hi Line Capital Management LLC bought a new position in Eagle Materials in the 1st quarter valued at $4,770,000. GAMMA Investing LLC raised its position in Eagle Materials by 21.2% in the 1st quarter. GAMMA Investing LLC now owns 819 shares of the construction company’s stock valued at $182,000 after purchasing an additional 143 shares during the last quarter. Teacher Retirement System of Texas raised its position in Eagle Materials by 234.6% in the 1st quarter. Teacher Retirement System of Texas now owns 4,905 shares of the construction company’s stock valued at $1,089,000 after purchasing an additional 3,439 shares during the last quarter. Finally, Two Sigma Advisers LP raised its position in Eagle Materials by 8.7% in the 4th quarter. Two Sigma Advisers LP now owns 22,400 shares of the construction company’s stock valued at $5,527,000 after purchasing an additional 1,800 shares during the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Trading Down 0.4%

NYSE:EXP opened at $215.16 on Friday. The company has a quick ratio of 1.03, a current ratio of 2.73 and a debt-to-equity ratio of 0.84. Eagle Materials Inc has a 52 week low of $191.91 and a 52 week high of $321.93. The stock has a market capitalization of $7.02 billion, a price-to-earnings ratio of 15.64 and a beta of 1.26. The firm has a 50 day moving average of $211.25 and a 200 day moving average of $225.31.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Tuesday, May 20th. The construction company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($0.26). The company had revenue of $470.18 million for the quarter, compared to analysts’ expectations of $483.14 million. Eagle Materials had a net margin of 20.50% and a return on equity of 32.71%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.24 earnings per share. As a group, sell-side analysts anticipate that Eagle Materials Inc will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Monday, June 16th will be issued a $0.25 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. Eagle Materials’s payout ratio is 7.27%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Loop Capital reduced their price objective on Eagle Materials from $245.00 to $237.00 and set a “hold” rating for the company in a research report on Wednesday, May 21st. DA Davidson decreased their target price on Eagle Materials from $260.00 to $245.00 and set a “neutral” rating on the stock in a research report on Friday, May 23rd. Stifel Nicolaus set a $241.00 target price on Eagle Materials and gave the company a “hold” rating in a research report on Wednesday, May 21st. Stephens set a $255.00 target price on Eagle Materials and gave the company an “overweight” rating in a research report on Thursday, May 22nd. Finally, Citigroup reduced their price target on Eagle Materials from $279.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $254.44.

Eagle Materials 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.