Sprucegrove Investment Management Ltd. Raises Stock Holdings in Eagle Materials Inc $EXP

Sprucegrove Investment Management Ltd. raised its stake in shares of Eagle Materials Inc (NYSE:EXP) by 1,671.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,400 shares of the construction company’s stock after acquiring an additional 11,700 shares during the period. Eagle Materials makes up approximately 0.3% of Sprucegrove Investment Management Ltd.’s holdings, making the stock its 29th biggest position. Sprucegrove Investment Management Ltd.’s holdings in Eagle Materials were worth $2,563,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in EXP. Baupost Group LLC MA grew its stake 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 acquiring an additional 263,403 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Eagle Materials by 0.6% during the 3rd quarter. William Blair Investment Management LLC now owns 615,250 shares of the construction company’s stock valued at $143,378,000 after purchasing an additional 3,505 shares during the last quarter. American Century Companies Inc. raised its holdings in Eagle Materials by 2.5% during the 3rd quarter. American Century Companies Inc. now owns 534,380 shares of the construction company’s stock valued at $124,532,000 after buying an additional 13,104 shares during the period. Principal Financial Group Inc. raised its holdings in Eagle Materials by 14.6% during the 3rd quarter. Principal Financial Group Inc. now owns 511,372 shares of the construction company’s stock valued at $119,179,000 after buying an additional 65,072 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Eagle Materials by 61.1% in the third quarter. Bank of New York Mellon Corp now owns 500,474 shares of the construction company’s stock worth $116,630,000 after buying an additional 189,725 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors.

Eagle Materials Stock Performance

Shares of Eagle Materials stock opened at $209.68 on Wednesday. The company has a current ratio of 4.27, a quick ratio of 2.68 and a debt-to-equity ratio of 1.17. The stock’s fifty day moving average price is $198.73 and its 200-day moving average price is $212.97. The firm has a market cap of $6.59 billion, a P/E ratio of 15.87 and a beta of 1.38. Eagle Materials Inc has a 12 month low of $171.99 and a 12 month high of $243.64.

Eagle Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 13th. Stockholders of record on Monday, March 16th were issued a $0.25 dividend. The ex-dividend date was Monday, March 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Eagle Materials’s payout ratio is currently 7.57%.

Analyst Ratings Changes

A number of research firms have weighed in on EXP. Wells Fargo & Company boosted their price objective on shares of Eagle Materials from $240.00 to $246.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Wall Street Zen cut shares of Eagle Materials from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Citigroup cut their price target on shares of Eagle Materials from $232.00 to $224.00 and set a “neutral” rating on the stock in a report on Tuesday, February 3rd. DA Davidson decreased their price objective on shares of Eagle Materials from $225.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, February 2nd. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $215.00 target price (down from $230.00) on shares of Eagle Materials in a research note on Monday, February 16th. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $228.82.

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.