Hsbc Holdings PLC Invests $4.27 Million in Eagle Materials Inc $EXP

Hsbc Holdings PLC bought a new stake in shares of Eagle Materials Inc (NYSE:EXP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 19,023 shares of the construction company’s stock, valued at approximately $4,274,000.

Several other institutional investors have also added to or reduced their stakes in the business. Fifth Third Bancorp boosted its stake in Eagle Materials by 5,116.3% in the 1st quarter. Fifth Third Bancorp now owns 25,612 shares of the construction company’s stock worth $4,852,000 after purchasing an additional 25,121 shares in the last quarter. Sprucegrove Investment Management Ltd. increased its stake in Eagle Materials by 1,671.4% during the 4th quarter. Sprucegrove Investment Management Ltd. now owns 12,400 shares of the construction company’s stock valued at $2,563,000 after purchasing an additional 11,700 shares in the last quarter. Black Creek Investment Management Inc. acquired a new position in Eagle Materials during the 4th quarter valued at approximately $103,778,000. Redwood Investment Management LLC purchased a new position in shares of Eagle Materials in the first quarter worth $1,080,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Eagle Materials by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 627,427 shares of the construction company’s stock worth $118,846,000 after buying an additional 16,782 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Insider Buying and Selling at Eagle Materials

In other news, SVP Tony Thompson sold 3,074 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $203.96, for a total value of $626,973.04. Following the completion of the transaction, the senior vice president owned 10,142 shares of the company’s stock, valued at $2,068,562.32. The trade was a 23.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on EXP shares. Weiss Ratings reissued a “hold (c)” rating on shares of Eagle Materials in a report on Tuesday, June 16th. Zacks Research cut Eagle Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Royal Bank Of Canada boosted their price target on Eagle Materials from $208.00 to $219.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 20th. DA Davidson initiated coverage on Eagle Materials in a report on Monday, August 24th. They issued a “neutral” rating and a $220.00 price objective on the stock. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $200.00 price objective on shares of Eagle Materials in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $223.67.

Eagle Materials Stock Up 0.1%

EXP stock opened at $197.88 on Friday. The firm’s fifty day simple moving average is $211.72 and its 200-day simple moving average is $208.40. The company has a market capitalization of $6.07 billion, a P/E ratio of 15.64 and a beta of 1.38. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.23 and a quick ratio of 1.91. Eagle Materials Inc has a 12 month low of $171.99 and a 12 month high of $245.53.

Eagle Materials (NYSE:EXP) last issued its earnings results on Wednesday, July 29th. The construction company reported $3.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.37 by ($0.08). The business had revenue of $650.97 million for 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%.The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the business earned $3.76 EPS. As a group, equities research analysts forecast that Eagle Materials Inc will post 12.66 earnings per share for the current year.

Eagle Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Monday, September 14th will be paid 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 dividend yield of 0.5%. Eagle Materials’s dividend payout ratio (DPR) is presently 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.