The Manufacturers Life Insurance Company Invests $4.92 Million in Eagle Materials Inc $EXP

The Manufacturers Life Insurance Company acquired a new stake in Eagle Materials Inc (NYSE:EXP) in the second quarter, HoldingsChannel reports. The firm acquired 21,863 shares of the construction company’s stock, valued at approximately $4,919,000.

A number of other hedge funds have also recently bought and sold shares of EXP. Womack Financial LLC purchased a new stake in Eagle Materials in the 2nd quarter worth approximately $281,000. Hyperion Capital Advisors LP purchased a new position in shares of Eagle Materials during the 2nd quarter worth $450,000. Sanctuary Advisors LLC acquired a new stake in shares of Eagle Materials during the second quarter worth $545,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Eagle Materials in the second quarter valued at $6,258,000. Finally, Nitor Capital Management LLC purchased a new stake in shares of Eagle Materials in the second quarter valued at $4,497,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EXP. Zacks Research downgraded Eagle Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Weiss Ratings restated a “hold (c)” rating on shares of Eagle Materials in a report on Tuesday, June 16th. Jefferies Financial Group reaffirmed a “hold” rating and set a $200.00 price objective on shares of Eagle Materials in a research note on Wednesday, May 20th. Stephens increased their price objective on shares of Eagle Materials from $225.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Finally, Wall Street Zen raised shares of Eagle Materials from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $223.67.

Eagle Materials Price Performance

Eagle Materials stock opened at $194.15 on Tuesday. The firm has a fifty day moving average of $211.14 and a 200-day moving average of $208.01. Eagle Materials Inc has a 52-week low of $171.99 and a 52-week high of $245.53. The company has a quick ratio of 1.91, a current ratio of 3.23 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $5.95 billion, a P/E ratio of 15.35 and a beta of 1.39.

Eagle Materials (NYSE:EXP) last posted its earnings results on Wednesday, July 29th. The construction company reported $3.29 earnings per share for the quarter, missing the consensus estimate 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 quarter in the previous year, the firm posted $3.76 EPS. The business’s revenue was up 2.6% compared to the same quarter last year. As a group, analysts predict that Eagle Materials Inc will post 12.66 EPS for the current year.

Eagle Materials Announces Dividend

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

Insider Activity at Eagle Materials

In other Eagle Materials news, SVP Tony Thompson sold 3,074 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $203.96, for a total transaction of $626,973.04. Following the transaction, the senior vice president owned 10,142 shares in the company, valued at $2,068,562.32. The trade was a 23.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Eagle Materials 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.