The Manufacturers Life Insurance Company Takes $4.92 Million Position in Eagle Materials Inc $EXP

The Manufacturers Life Insurance Company purchased a new position in shares of Eagle Materials Inc (NYSE:EXP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 21,863 shares of the construction company’s stock, valued at approximately $4,919,000. The Manufacturers Life Insurance Company owned approximately 0.07% of Eagle Materials as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Clearstead Advisors LLC increased its position in Eagle Materials by 266.7% during the 4th quarter. Clearstead Advisors LLC now owns 132 shares of the construction company’s stock worth $27,000 after purchasing an additional 96 shares during the period. IFP Advisors Inc lifted its holdings in shares of Eagle Materials by 389.3% in the 4th quarter. IFP Advisors Inc now owns 137 shares of the construction company’s stock valued at $28,000 after buying an additional 109 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Eagle Materials in the fourth quarter valued at approximately $29,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Eagle Materials in the third quarter valued at approximately $34,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Eagle Materials by 102.4% during the second 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. Institutional investors and hedge funds own 96.07% of the company’s stock.

Wall Street Analyst Weigh In

EXP has been the subject of several research analyst reports. JPMorgan Chase & Co. upgraded Eagle Materials from an “underweight” rating to a “neutral” rating and set a $225.00 price objective for the company in a research report on Tuesday, June 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eagle Materials in a research note on Tuesday, June 16th. Citigroup cut their price target on shares of Eagle Materials from $240.00 to $232.00 and set a “neutral” rating for the company in a report on Monday, August 10th. 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 objective for the company. Finally, Royal Bank Of Canada boosted their price objective on shares of Eagle Materials from $208.00 to $219.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $223.67.

Insider Buying and Selling at Eagle Materials

In other news, SVP Tony Thompson sold 3,074 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $203.96, for a total value of $626,973.04. Following the sale, the senior vice president directly owned 10,142 shares in the company, valued at $2,068,562.32. This represents a 23.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by company insiders.

Eagle Materials Stock Down 1.7%

EXP stock opened at $194.15 on Tuesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.23 and a quick ratio of 1.91. The company’s 50 day simple moving average is $211.14 and its 200-day simple moving average is $208.01. Eagle Materials Inc has a 12 month low of $171.99 and a 12 month high of $245.53. The firm has a market capitalization of $5.95 billion, a PE ratio of 15.35 and a beta of 1.39.

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

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Monday, September 14th will be issued a $0.25 dividend. 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 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.