L1 Capital Pty Ltd Acquires Shares of 120,143 Eagle Materials Inc $EXP

L1 Capital Pty Ltd acquired a new stake in shares of Eagle Materials Inc (NYSE:EXP) in the fourth quarter, Holdings Channel.com reports. The firm acquired 120,143 shares of the construction company’s stock, valued at approximately $24,831,000. Eagle Materials makes up about 1.3% of L1 Capital Pty Ltd’s portfolio, making the stock its 14th largest position.

A number of other institutional investors have also modified their holdings of EXP. Focus Partners Wealth raised its stake in shares of Eagle Materials by 21.5% during the 1st quarter. Focus Partners Wealth now owns 2,019 shares of the construction company’s stock valued at $448,000 after buying an additional 357 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Eagle Materials by 102.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company’s stock valued at $35,000 after buying an additional 87 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Eagle Materials by 5.8% during the 2nd quarter. First Trust Advisors LP now owns 101,969 shares of the construction company’s stock valued at $20,609,000 after buying an additional 5,612 shares during the last quarter. Baird Financial Group Inc. raised its stake in shares of Eagle Materials by 8.0% during the 2nd quarter. Baird Financial Group Inc. now owns 1,364 shares of the construction company’s stock valued at $276,000 after buying an additional 101 shares during the last quarter. Finally, Jump Financial LLC raised its stake in shares of Eagle Materials by 359.9% during the 2nd quarter. Jump Financial LLC now owns 12,510 shares of the construction company’s stock valued at $2,528,000 after buying an additional 9,790 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EXP. Citigroup cut their price target on Eagle Materials from $224.00 to $217.00 and set a “neutral” rating for the company in a research note on Thursday, May 21st. Jefferies Financial Group restated a “hold” rating and issued a $200.00 price target on shares of Eagle Materials in a research note on Wednesday, May 20th. Stephens cut their price target on Eagle Materials from $235.00 to $225.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 20th. Wall Street Zen upgraded Eagle Materials from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Zacks Research upgraded Eagle Materials from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. One research analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $224.30.

Eagle Materials Trading Down 1.0%

Shares of Eagle Materials stock opened at $214.86 on Friday. The stock has a market cap of $6.65 billion, a P/E ratio of 16.38 and a beta of 1.37. The stock’s 50 day simple moving average is $205.45 and its 200-day simple moving average is $211.51. Eagle Materials Inc has a 1-year low of $171.99 and a 1-year high of $243.64. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.66 and a quick ratio of 2.09.

Eagle Materials (NYSE:EXP) last issued its earnings results on Tuesday, May 19th. The construction company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.32. The business had revenue of $479.11 million for the quarter, compared to analysts’ expectations of $451.99 million. Eagle Materials had a return on equity of 28.27% and a net margin of 18.36%.The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.00 EPS. Analysts predict that Eagle Materials Inc will post 13.02 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, June 15th. Eagle Materials’s payout ratio is currently 7.62%.

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.