Sherbrooke Park Advisers LLC Makes New $291,000 Investment in Eagle Materials Inc. (NYSE:EXP)

Sherbrooke Park Advisers LLC acquired a new position in Eagle Materials Inc. (NYSE:EXP) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,181 shares of the construction company’s stock, valued at approximately $291,000.

A number of other hedge funds have also recently added to or reduced their stakes in EXP. JPMorgan Chase & Co. boosted its holdings in shares of Eagle Materials by 60.3% during the third quarter. JPMorgan Chase & Co. now owns 1,735,133 shares of the construction company’s stock valued at $499,111,000 after acquiring an additional 652,836 shares during the period. Norges Bank acquired a new position in shares of Eagle Materials during the fourth quarter valued at $93,672,000. Raymond James Financial Inc. acquired a new position in shares of Eagle Materials during the fourth quarter valued at $38,115,000. Baupost Group LLC MA boosted its holdings in shares of Eagle Materials by 27.6% during the fourth quarter. Baupost Group LLC MA now owns 638,223 shares of the construction company’s stock valued at $157,488,000 after acquiring an additional 137,950 shares during the period. Finally, ArrowMark Colorado Holdings LLC acquired a new position in shares of Eagle Materials during the fourth quarter valued at $28,778,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

Eagle Materials Price Performance

Shares of Eagle Materials stock opened at $242.23 on Tuesday. The company has a current ratio of 2.76, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The company’s 50-day moving average price is $223.51 and its two-hundred day moving average price is $248.93. Eagle Materials Inc. has a 52 week low of $201.61 and a 52 week high of $321.93. The stock has a market cap of $8.06 billion, a PE ratio of 17.30 and a beta of 1.36.

Wall Street Analysts Forecast Growth

EXP has been the topic of a number of recent analyst reports. DA Davidson cut their price objective on shares of Eagle Materials from $265.00 to $260.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. JPMorgan Chase & Co. cut their price objective on shares of Eagle Materials from $310.00 to $250.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Truist Financial cut their price objective on shares of Eagle Materials from $330.00 to $280.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Loop Capital cut their price objective on shares of Eagle Materials from $280.00 to $245.00 and set a “hold” rating on the stock in a research note on Tuesday, April 1st. Finally, Stifel Nicolaus initiated coverage on shares of Eagle Materials in a research note on Tuesday, March 4th. They set a “hold” rating and a $242.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $274.40.

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.