Harber Asset Management LLC Invests $3.28 Million in Eagle Materials Inc $EXP

Harber Asset Management LLC acquired a new position in shares of Eagle Materials Inc (NYSE:EXP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,568 shares of the construction company’s stock, valued at approximately $3,278,000. Eagle Materials comprises about 2.0% of Harber Asset Management LLC’s portfolio, making the stock its 26th largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Clearstead Advisors LLC increased its position in shares of Eagle Materials by 266.7% during the 4th quarter. Clearstead Advisors LLC now owns 132 shares of the construction company’s stock valued at $27,000 after purchasing an additional 96 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Eagle Materials in the 4th quarter worth approximately $29,000. IFP Advisors Inc boosted its stake in Eagle Materials by 389.3% in the fourth quarter. IFP Advisors Inc now owns 137 shares of the construction company’s stock worth $28,000 after buying an additional 109 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in Eagle Materials in the third quarter worth approximately $34,000. Finally, EverSource Wealth Advisors LLC grew its position in Eagle Materials by 102.4% during the second quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company’s stock valued at $35,000 after acquiring an additional 87 shares during the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EXP has been the topic of several research reports. Wells Fargo & Company decreased their price target on shares of Eagle Materials from $240.00 to $231.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Zacks Research cut shares of Eagle Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Wall Street Zen raised shares of Eagle Materials from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Royal Bank Of Canada lifted their target price on shares of Eagle Materials from $208.00 to $219.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 20th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $200.00 price target on shares of Eagle Materials in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $222.56.

Eagle Materials Price Performance

Shares of Eagle Materials stock opened at $207.15 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.23 and a quick ratio of 1.91. The business’s 50 day simple moving average is $213.74 and its two-hundred day simple moving average is $209.15. The stock has a market capitalization of $6.35 billion, a P/E ratio of 16.38 and a beta of 1.38. Eagle Materials Inc has a one year low of $171.99 and a one year high of $245.53.

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

Eagle Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Monday, September 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $1.00 annualized dividend and a yield of 0.5%. Eagle Materials’s dividend payout ratio is presently 7.91%.

About Eagle Materials

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.