Denali Advisors LLC Invests $610,000 in Eagle Materials Inc $EXP

Denali Advisors LLC acquired a new stake in shares of Eagle Materials Inc (NYSE:EXP) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,710 shares of the construction company’s stock, valued at approximately $610,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Fifth Third Bancorp increased its position in Eagle Materials by 5,116.3% in the first quarter. Fifth Third Bancorp now owns 25,612 shares of the construction company’s stock worth $4,852,000 after buying an additional 25,121 shares in the last quarter. Black Creek Investment Management Inc. purchased a new position in shares of Eagle Materials during the 4th quarter valued at about $103,778,000. Sprucegrove Investment Management Ltd. lifted its position in shares of 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 buying an additional 11,700 shares in the last quarter. Redwood Investment Management LLC bought a new position in shares of Eagle Materials during the 1st quarter valued at approximately $1,080,000. Finally, Dimensional Fund Advisors LP increased its holdings 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 acquiring an additional 16,782 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on EXP shares. Jefferies Financial Group restated a “hold” rating and set a $200.00 target price on shares of Eagle Materials in a research note on Wednesday, May 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Eagle Materials in a research report on Tuesday, June 16th. Wells Fargo & Company reduced their price objective on shares of Eagle Materials from $240.00 to $231.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Royal Bank Of Canada raised their price objective on shares of Eagle Materials from $208.00 to $219.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. upgraded shares of Eagle Materials from an “underweight” rating to a “neutral” rating and set a $225.00 target price on the stock in a research note on Tuesday, June 2nd. One investment analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $222.56.

Eagle Materials Trading Down 1.5%

EXP stock opened at $203.26 on Friday. Eagle Materials Inc has a 1-year low of $171.99 and a 1-year high of $245.53. 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 company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 16.07 and a beta of 1.38. The business has a 50 day simple moving average of $213.90 and a two-hundred day simple moving average of $209.17.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.29 earnings per share (EPS) 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 business earned $3.76 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. Research analysts anticipate that Eagle Materials Inc will post 12.66 EPS for the current fiscal year.

Eagle Materials Announces Dividend

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