Redwood Investment Management LLC Acquires Shares of 5,285 Eagle Materials Inc $EXP

Redwood Investment Management LLC acquired a new position in shares of Eagle Materials Inc (NYSE:EXP) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 5,285 shares of the construction company’s stock, valued at approximately $1,189,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Eagle Materials in the 2nd quarter valued at about $688,486,000. Baupost Group LLC MA increased its position in Eagle Materials by 26.1% during the fourth quarter. Baupost Group LLC MA now owns 1,185,248 shares of the construction company’s stock worth $244,967,000 after buying an additional 245,588 shares during the period. W1M Asset Management Ltd purchased a new stake in Eagle Materials in the second quarter valued at approximately $155,199,000. Dimensional Fund Advisors LP lifted its stake in Eagle Materials by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 627,427 shares of the construction company’s stock valued at $118,846,000 after buying an additional 16,782 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in shares of Eagle Materials in the second quarter valued at approximately $129,760,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Eagle Materials

In other news, SVP Tony Thompson sold 3,074 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $203.96, for a total value of $626,973.04. Following the completion of the sale, the senior vice president owned 10,142 shares in the company, valued at approximately $2,068,562.32. This trade represents a 23.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

EXP has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Eagle Materials in a research report on Tuesday, June 16th. Wells Fargo & Company reduced their price target on shares of Eagle Materials from $240.00 to $231.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. JPMorgan Chase & Co. upgraded shares of Eagle Materials from an “underweight” rating to a “neutral” rating and set a $225.00 price target for the company in a research note on Tuesday, June 2nd. Citigroup lowered their price objective on shares of Eagle Materials from $240.00 to $232.00 and set a “neutral” rating on the stock in a research report on Monday, August 10th. Finally, Wall Street Zen upgraded shares of Eagle Materials from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Eagle Materials has an average rating of “Hold” and a consensus target price of $223.67.

Eagle Materials Trading Up 0.8%

Shares of EXP stock opened at $200.45 on Thursday. The company has a market capitalization of $6.15 billion, a P/E ratio of 15.85 and a beta of 1.38. 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 business’s 50 day moving average is $212.80 and its two-hundred day moving average is $208.67. Eagle Materials Inc has a twelve month low of $171.99 and a twelve month high of $245.53.

Eagle Materials (NYSE:EXP) last released its quarterly earnings results on Wednesday, July 29th. The construction company reported $3.29 EPS for the quarter, missing the consensus estimate of $3.37 by ($0.08). Eagle Materials had a return on equity of 26.87% and a net margin of 17.32%.The company had revenue of $650.97 million for the quarter, compared to analysts’ expectations of $620.35 million. During the same quarter last year, the company earned $3.76 EPS. Eagle Materials’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities analysts forecast that Eagle Materials Inc will post 12.66 EPS for the current year.

Eagle Materials Announces Dividend

The company 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 dividend of $0.25 per share. The ex-dividend date is Monday, September 14th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Eagle Materials’s dividend payout ratio is presently 7.91%.

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.