Man Group plc Purchases Shares of 21,562 Eagle Materials Inc $EXP

Man Group plc acquired a new position in shares of Eagle Materials Inc (NYSE:EXP) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,562 shares of the construction company’s stock, valued at approximately $4,851,000.

Other institutional investors have also recently bought and sold shares of the company. Caisse de depot et placement du Quebec boosted its stake in shares of Eagle Materials by 3.6% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,426 shares of the construction company’s stock worth $332,000 after acquiring an additional 50 shares during the period. M&T Bank Corp raised its stake in Eagle Materials by 2.6% in the 4th quarter. M&T Bank Corp now owns 2,406 shares of the construction company’s stock valued at $498,000 after acquiring an additional 61 shares during the period. GAMMA Investing LLC raised its stake in Eagle Materials by 9.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,015 shares of the construction company’s stock valued at $228,000 after acquiring an additional 84 shares during the period. QRG Capital Management Inc. lifted its holdings in Eagle Materials by 7.0% during the 1st quarter. QRG Capital Management Inc. now owns 1,294 shares of the construction company’s stock valued at $245,000 after purchasing an additional 85 shares during the last quarter. Finally, HB Wealth Management LLC lifted its holdings in Eagle Materials by 4.9% during the 1st quarter. HB Wealth Management LLC now owns 1,871 shares of the construction company’s stock valued at $354,000 after purchasing an additional 87 shares during the last quarter. 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 stock in a transaction on Monday, August 24th. The stock was sold at an average price of $203.96, for a total transaction of $626,973.04. Following the sale, the senior vice president directly owned 10,142 shares of the company’s stock, valued at approximately $2,068,562.32. This represents a 23.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.70% of the company’s stock.

Eagle Materials Stock Performance

Shares of NYSE:EXP opened at $197.88 on Monday. The company’s 50 day moving average price is $211.72 and its two-hundred day moving average price is $208.27. Eagle Materials Inc has a 12-month low of $171.99 and a 12-month high of $245.53. The firm has a market cap of $6.07 billion, a PE ratio of 15.64 and a beta of 1.39. 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 (NYSE:EXP) last released its quarterly earnings results on Wednesday, July 29th. The construction company reported $3.29 earnings per share for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.08). The business had revenue of $650.97 million during the quarter, compared to analyst estimates of $620.35 million. Eagle Materials had a net margin of 17.32% and a return on equity of 26.87%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.76 earnings per share. Equities research 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Monday, September 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $1.00 annualized dividend and a yield of 0.5%. Eagle Materials’s payout ratio is currently 7.91%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wells Fargo & Company decreased their price objective on shares of Eagle Materials from $240.00 to $231.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Jefferies Financial Group restated a “hold” rating and set a $200.00 target price on shares of Eagle Materials in a research note on Wednesday, May 20th. Wall Street Zen raised shares of Eagle Materials from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. DA Davidson began coverage on shares of Eagle Materials in a research note on Monday, August 24th. They issued a “neutral” rating and a $220.00 price target on the stock. Finally, Zacks Research cut shares of Eagle Materials from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. One analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Eagle Materials has a consensus rating of “Hold” and a consensus target price of $223.67.

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.