Picton Mahoney Asset Management Takes Position in Eagle Materials Inc $EXP

Picton Mahoney Asset Management purchased a new position in Eagle Materials Inc (NYSE:EXP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 31,716 shares of the construction company’s stock, valued at approximately $7,389,000. Picton Mahoney Asset Management owned about 0.10% of Eagle Materials as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of EXP. Segall Bryant & Hamill LLC grew its stake 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 buying an additional 13,147 shares in the last quarter. William Blair Investment Management LLC grew its position in Eagle Materials by 0.6% in the third quarter. William Blair Investment Management LLC now owns 615,250 shares of the construction company’s stock worth $143,378,000 after acquiring an additional 3,505 shares in the last quarter. Foyston Gordon & Payne Inc grew its position in Eagle Materials by 8.6% in the third quarter. Foyston Gordon & Payne Inc now owns 2,162 shares of the construction company’s stock worth $504,000 after acquiring an additional 172 shares in the last quarter. Rafferty Asset Management LLC increased its stake in Eagle Materials by 113.2% during the third quarter. Rafferty Asset Management LLC now owns 26,238 shares of the construction company’s stock worth $6,115,000 after acquiring an additional 13,931 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Eagle Materials by 2.5% during the third quarter. American Century Companies Inc. now owns 534,380 shares of the construction company’s stock valued at $124,532,000 after purchasing an additional 13,104 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on EXP shares. Stephens reiterated an “equal weight” rating and issued a $245.00 target price on shares of Eagle Materials in a report on Tuesday, January 20th. Wall Street Zen downgraded Eagle Materials from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Royal Bank Of Canada set a $208.00 price objective on shares of Eagle Materials in a research note on Tuesday, February 24th. DA Davidson reduced their target price on shares of Eagle Materials from $225.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, February 2nd. Finally, Wells Fargo & Company lowered their target price on shares of Eagle Materials from $251.00 to $241.00 and set an “overweight” rating for the company in a report on Thursday, January 29th. Two investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $228.36.

Eagle Materials Trading Down 1.1%

EXP stock opened at $211.59 on Thursday. Eagle Materials Inc has a 12 month low of $191.91 and a 12 month high of $243.64. The firm’s 50-day moving average is $223.14 and its 200 day moving average is $224.37. The company has a market capitalization of $6.65 billion, a PE ratio of 16.02 and a beta of 1.35. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.27 and a quick ratio of 2.68.

Eagle Materials (NYSE:EXP) last issued its earnings results on Thursday, January 29th. The construction company reported $3.22 EPS for the quarter, missing analysts’ consensus estimates of $3.32 by ($0.10). The company had revenue of $555.96 million for the quarter, compared to analysts’ expectations of $556.41 million. Eagle Materials had a return on equity of 28.96% and a net margin of 18.70%.The business’s revenue was down .4% compared to the same quarter last year. During the same period last year, the business posted $3.59 earnings per share. On average, research analysts anticipate that Eagle Materials Inc will post 14.39 EPS for the current year.

Eagle Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Monday, March 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Eagle Materials’s payout ratio is 7.57%.

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.