Madison Asset Management LLC Invests $2.35 Million in Eagle Materials Inc $EXP

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

A number of other institutional investors have also recently made changes to their positions in the business. Focus Partners Wealth increased its stake in Eagle Materials by 21.5% during the first quarter. Focus Partners Wealth now owns 2,019 shares of the construction company’s stock worth $448,000 after acquiring an additional 357 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Eagle Materials by 102.4% during the second quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company’s stock valued at $35,000 after purchasing an additional 87 shares during the period. First Trust Advisors LP lifted its stake in shares of Eagle Materials by 5.8% in the 2nd quarter. First Trust Advisors LP now owns 101,969 shares of the construction company’s stock valued at $20,609,000 after purchasing an additional 5,612 shares during the last quarter. Baird Financial Group Inc. lifted its stake in shares of 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 purchasing an additional 101 shares during the last quarter. Finally, Jump Financial LLC boosted its holdings in shares of Eagle Materials by 359.9% in the 2nd quarter. Jump Financial LLC now owns 12,510 shares of the construction company’s stock worth $2,528,000 after purchasing an additional 9,790 shares during the period. Institutional investors own 96.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EXP. Citigroup cut their target price 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eagle Materials in a research note on Tuesday, June 16th. Wells Fargo & Company cut their price objective on shares of Eagle Materials from $240.00 to $231.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Finally, JPMorgan Chase & Co. raised shares of Eagle Materials from an “underweight” rating to a “neutral” rating and set a $225.00 target price on the stock in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $222.56.

Eagle Materials Price Performance

Shares of EXP stock opened at $203.26 on Friday. The stock has a 50 day moving average price of $213.90 and a 200 day moving average price of $209.17. Eagle Materials Inc has a 52-week low of $171.99 and a 52-week high of $245.53. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.91 and a current ratio of 3.23. The firm has a market capitalization of $6.23 billion, a P/E ratio of 16.07 and a beta of 1.38.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.29 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $620.35 million. During the same period last year, the company earned $3.76 EPS. The business’s revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts predict that Eagle Materials Inc will post 12.66 earnings per share for the current year.

Eagle Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Monday, September 14th will be paid 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 of this dividend is Monday, September 14th. Eagle Materials’s payout ratio is currently 7.91%.

Eagle Materials Company 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.