L1 Capital Pty Ltd Invests $24.83 Million in Eagle Materials Inc $EXP

L1 Capital Pty Ltd acquired a new position in Eagle Materials Inc (NYSE:EXP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 investment portfolio, making the stock its 14th biggest position. L1 Capital Pty Ltd owned about 0.38% of Eagle Materials as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Lighthouse Investment Partners LLC boosted its position in shares of Eagle Materials by 743.8% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 34,317 shares of the construction company’s stock worth $7,997,000 after purchasing an additional 30,250 shares in the last quarter. Cambiar Investors LLC acquired a new stake in shares of Eagle Materials in the 4th quarter worth $1,321,000. Sprucegrove Investment Management Ltd. boosted its position in shares of Eagle Materials by 1,671.4% in the 4th quarter. Sprucegrove Investment Management Ltd. now owns 12,400 shares of the construction company’s stock worth $2,563,000 after purchasing an additional 11,700 shares in the last quarter. Segall Bryant & Hamill LLC boosted its position in shares of Eagle Materials by 15.3% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 99,319 shares of the construction company’s stock worth $23,145,000 after purchasing an additional 13,147 shares in the last quarter. Finally, Bastion Asset Management Inc. boosted its position in shares of Eagle Materials by 62.6% in the 3rd quarter. Bastion Asset Management Inc. now owns 27,649 shares of the construction company’s stock worth $6,437,000 after purchasing an additional 10,640 shares in the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Zacks Research raised Eagle Materials from a “strong sell” rating to a “hold” rating in a research report on Monday, March 23rd. JPMorgan Chase & Co. upgraded 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. Stephens reduced their target price 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. Jefferies Financial Group restated a “hold” rating and issued a $200.00 target price on shares of Eagle Materials in a research note on Wednesday, May 20th. Finally, Wells Fargo & Company raised their target price on Eagle Materials from $240.00 to $246.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. One analyst has rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $224.30.

Eagle Materials Stock Performance

Shares of EXP stock opened at $214.86 on Friday. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 16.38 and a beta of 1.37. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.66 and a quick ratio of 2.09. The business has a fifty day moving average of $205.45 and a 200 day moving average of $211.51. Eagle Materials Inc has a 1 year low of $171.99 and a 1 year high of $243.64.

Eagle Materials (NYSE:EXP) last issued its earnings results on Tuesday, May 19th. The construction company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.32. The company had revenue of $479.11 million during the quarter, compared to analyst estimates of $451.99 million. Eagle Materials had a return on equity of 28.27% and a net margin of 18.36%.The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $2.00 EPS. As a group, research analysts expect that Eagle Materials Inc will post 13.02 earnings per share for the current year.

Eagle Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, June 15th. 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 presently 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.