W1M Asset Management Ltd Buys New Stake in Eagle Materials Inc $EXP

W1M Asset Management Ltd bought a new position in Eagle Materials Inc (NYSE:EXP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 689,422 shares of the construction company’s stock, valued at approximately $155,199,000. Eagle Materials accounts for about 1.4% of W1M Asset Management Ltd’s portfolio, making the stock its 23rd biggest position. W1M Asset Management Ltd owned about 2.25% of Eagle Materials at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp lifted its position in shares of Eagle Materials by 5,116.3% during the 1st quarter. Fifth Third Bancorp now owns 25,612 shares of the construction company’s stock worth $4,852,000 after purchasing an additional 25,121 shares during the last quarter. Sprucegrove Investment Management Ltd. boosted its stake in Eagle Materials by 1,671.4% during the 4th quarter. Sprucegrove Investment Management Ltd. now owns 12,400 shares of the construction company’s stock valued at $2,563,000 after purchasing an additional 11,700 shares during the period. Black Creek Investment Management Inc. acquired a new stake in Eagle Materials in the 4th quarter valued at approximately $103,778,000. Redwood Investment Management LLC acquired a new stake in Eagle Materials in the 1st quarter valued at approximately $1,080,000. Finally, Dimensional Fund Advisors LP increased its position in Eagle Materials by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 627,427 shares of the construction company’s stock worth $118,846,000 after buying an additional 16,782 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Wall Street Analysts Forecast Growth

EXP has been the subject of several research analyst reports. JPMorgan Chase & Co. upgraded shares of Eagle Materials from an “underweight” rating to a “neutral” rating and set a $225.00 target price for the company in a research note on Tuesday, June 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eagle Materials in a research note on Tuesday, June 16th. Wells Fargo & Company lowered their price target on Eagle Materials from $240.00 to $231.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Royal Bank Of Canada increased their price objective on Eagle Materials from $208.00 to $219.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 20th. Finally, Stephens lifted their price objective on Eagle Materials from $225.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $222.56.

Eagle Materials Stock Performance

NYSE:EXP opened at $207.15 on Friday. Eagle Materials Inc has a 1 year low of $171.99 and a 1 year high of $245.53. The firm has a 50 day moving average of $213.74 and a 200-day moving average of $209.15. The company has a current ratio of 3.23, a quick ratio of 1.91 and a debt-to-equity ratio of 1.17. 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 (NYSE:EXP) last released its quarterly earnings results 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 business had revenue of $650.97 million for the quarter, compared to analyst estimates of $620.35 million. During the same period in the prior year, the business earned $3.76 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Eagle Materials Inc will post 12.66 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Monday, September 14th will be paid a $0.25 dividend. The ex-dividend date is Monday, September 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Eagle Materials’s dividend payout ratio (DPR) is 7.91%.

Eagle Materials Company 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.