Ieq Capital LLC Takes $3.50 Million Position in Eagle Materials Inc $EXP

Ieq Capital LLC acquired a new stake in Eagle Materials Inc (NYSE:EXP) in the second quarter, HoldingsChannel reports. The firm acquired 15,537 shares of the construction company’s stock, valued at approximately $3,496,000.

Several other hedge funds have also added to or reduced their stakes in the business. Caisse de depot et placement du Quebec increased its position in Eagle Materials by 3.6% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,426 shares of the construction company’s stock valued at $332,000 after acquiring an additional 50 shares during the period. M&T Bank Corp lifted its holdings in shares of Eagle Materials by 2.6% during the fourth quarter. M&T Bank Corp now owns 2,406 shares of the construction company’s stock worth $498,000 after purchasing an additional 61 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Eagle Materials by 9.0% during the second quarter. GAMMA Investing LLC now owns 1,015 shares of the construction company’s stock worth $228,000 after purchasing an additional 84 shares during the period. QRG Capital Management Inc. grew its stake in shares of Eagle Materials by 7.0% in the first quarter. QRG Capital Management Inc. now owns 1,294 shares of the construction company’s stock worth $245,000 after purchasing an additional 85 shares during the last quarter. Finally, HB Wealth Management LLC increased its holdings in Eagle Materials by 4.9% in the first quarter. HB Wealth Management LLC now owns 1,871 shares of the construction company’s stock valued at $354,000 after purchasing an additional 87 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on EXP. Wells Fargo & Company lowered their target price on Eagle Materials from $240.00 to $231.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Citigroup reduced their price target on Eagle Materials from $240.00 to $232.00 and set a “neutral” rating on the stock in a research report on Monday, August 10th. Wall Street Zen upgraded Eagle Materials from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $200.00 price objective on shares of Eagle Materials in a research note on Wednesday, May 20th. Finally, Royal Bank Of Canada upped their target price on Eagle Materials from $208.00 to $219.00 and gave the company a “sector perform” rating in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $223.67.

Eagle Materials Price Performance

EXP stock opened at $204.40 on Tuesday. 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 cap of $6.27 billion, a price-to-earnings ratio of 16.16 and a beta of 1.38. The company’s fifty day simple moving average is $213.48 and its 200 day simple moving average is $209.04. Eagle Materials Inc has a 12-month low of $171.99 and a 12-month high of $245.53.

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 business had revenue of $650.97 million during the quarter, compared to analyst estimates of $620.35 million. During the same period in the prior year, the firm earned $3.76 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, analysts expect that Eagle Materials Inc will post 12.66 earnings per share for the current year.

Eagle Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Monday, September 14th will be paid 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 payout ratio is 7.91%.

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.