Man Group plc Makes New Investment in Eagle Materials Inc $EXP

Man Group plc bought a new position in shares of Eagle Materials Inc (NYSE:EXP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,562 shares of the construction company’s stock, valued at approximately $4,851,000. Man Group plc owned about 0.07% of Eagle Materials as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Focus Partners Wealth raised its holdings in shares of Eagle Materials by 21.5% in the first quarter. Focus Partners Wealth now owns 2,019 shares of the construction company’s stock valued at $448,000 after buying an additional 357 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Eagle Materials by 102.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company’s stock worth $35,000 after acquiring an additional 87 shares during the last quarter. First Trust Advisors LP grew its holdings in Eagle Materials by 5.8% during the 2nd quarter. First Trust Advisors LP now owns 101,969 shares of the construction company’s stock worth $20,609,000 after acquiring an additional 5,612 shares during the last quarter. Baird Financial Group Inc. increased its position in Eagle Materials by 8.0% in the 2nd quarter. Baird Financial Group Inc. now owns 1,364 shares of the construction company’s stock valued at $276,000 after acquiring an additional 101 shares in the last quarter. Finally, Jump Financial LLC increased its position in Eagle Materials by 359.9% in the 2nd quarter. Jump Financial LLC now owns 12,510 shares of the construction company’s stock valued at $2,528,000 after acquiring an additional 9,790 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Eagle Materials Trading Up 0.2%

NYSE:EXP opened at $197.88 on Monday. The company has a current ratio of 3.23, a quick ratio of 1.91 and a debt-to-equity ratio of 1.17. Eagle Materials Inc has a 1-year low of $171.99 and a 1-year high of $245.53. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 15.64 and a beta of 1.39. The business’s 50-day moving average price is $211.72 and its two-hundred day moving average price is $208.27.

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

Eagle Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Monday, September 14th will be issued 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 payout ratio is currently 7.91%.

Insider Buying and Selling

In other Eagle Materials news, SVP Tony Thompson sold 3,074 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,068,562.32. This represents a 23.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Eagle Materials in a research report on Tuesday, June 16th. Zacks Research lowered shares of Eagle Materials from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Stephens raised their price target on shares of Eagle Materials from $225.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Wall Street Zen upgraded shares of Eagle Materials from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Wells Fargo & Company reduced their price objective on Eagle Materials from $240.00 to $231.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. One analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Eagle Materials currently has a consensus rating of “Hold” and an average target price of $223.67.

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.