Madison Asset Management LLC Buys New Shares in Eagle Materials Inc $EXP

Madison Asset Management LLC purchased a new stake in shares of Eagle Materials Inc (NYSE:EXP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,462 shares of the construction company’s stock, valued at approximately $2,354,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of EXP. Clearstead Advisors LLC raised its stake in shares of Eagle Materials by 266.7% in the fourth quarter. Clearstead Advisors LLC now owns 132 shares of the construction company’s stock worth $27,000 after buying an additional 96 shares during the period. IFP Advisors Inc grew its stake in shares of Eagle Materials by 389.3% during the 4th quarter. IFP Advisors Inc now owns 137 shares of the construction company’s stock valued at $28,000 after acquiring an additional 109 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Eagle Materials during the 4th quarter valued at approximately $29,000. Measured Wealth Private Client Group LLC purchased a new stake in Eagle Materials in the 3rd quarter worth approximately $34,000. Finally, EverSource Wealth Advisors LLC raised its stake 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 period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eagle Materials in a report on Tuesday, June 16th. Stephens increased their price objective on shares of Eagle Materials from $225.00 to $230.00 and gave the stock an “equal weight” rating in a research note 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. JPMorgan Chase & Co. raised shares of Eagle Materials from an “underweight” rating to a “neutral” rating and set a $225.00 target price for the company in a report on Tuesday, June 2nd. Finally, Zacks Research lowered Eagle Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $222.56.

Eagle Materials Stock Down 1.5%

EXP opened at $203.26 on Friday. The company has a market capitalization of $6.23 billion, a PE ratio of 16.07 and a beta of 1.38. The firm has a 50-day simple moving average of $213.90 and a two-hundred day simple moving average of $209.17. The company has a quick ratio of 1.91, a current ratio of 3.23 and a debt-to-equity ratio of 1.17. Eagle Materials Inc has a 52 week low of $171.99 and a 52 week high of $245.53.

Eagle Materials (NYSE:EXP) last posted its 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 firm had revenue of $650.97 million during the quarter, compared to analysts’ expectations of $620.35 million. Eagle Materials had a return on equity of 26.87% and a net margin of 17.32%.Eagle Materials’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.76 earnings per share. Analysts forecast that Eagle Materials Inc will post 12.66 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Monday, September 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, September 14th. Eagle Materials’s dividend payout ratio is currently 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.