Magnolia Group LLC Makes New $4.40 Million Investment in Eagle Materials Inc $EXP

Magnolia Group LLC acquired a new position in shares of Eagle Materials Inc (NYSE:EXP) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 25,743 shares of the construction company’s stock, valued at approximately $4,403,000. Eagle Materials makes up approximately 1.5% of Magnolia Group LLC’s portfolio, making the stock its 13th biggest holding. Magnolia Group LLC owned 0.08% of Eagle Materials at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Eagle Materials in the 2nd quarter valued at $688,486,000. W1M Asset Management Ltd acquired a new stake in Eagle Materials during the 2nd quarter worth about $155,199,000. William Blair Investment Management LLC acquired a new stake in Eagle Materials during the 2nd quarter worth about $129,760,000. Bank of America Corp DE purchased a new stake in Eagle Materials during the second quarter valued at about $66,255,000. Finally, Bank of New York Mellon Corp purchased a new stake in Eagle Materials during the second quarter valued at about $51,858,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on EXP. Royal Bank Of Canada dropped their target price on shares of Eagle Materials from $219.00 to $170.00 and set a “sector perform” rating on the stock in a research report on Friday, October 9th. Wall Street Zen lowered shares of Eagle Materials from a “hold” rating to a “sell” rating in a report on Saturday, November 7th. Stephens upped their price target on shares of Eagle Materials from $190.00 to $200.00 and gave the company an “equal weight” rating in a research report on Friday, November 6th. JPMorgan Chase & Co. decreased their price objective on shares of Eagle Materials from $225.00 to $200.00 and set a “neutral” rating for the company in a research note on Tuesday, October 13th. Finally, Citigroup raised their price objective on shares of Eagle Materials from $190.00 to $214.00 and gave the stock a “neutral” rating in a research note on Friday, November 6th. Ten investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $193.33.

Insider Buying and Selling at Eagle Materials

In other news, SVP Tony Thompson sold 3,074 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $203.96, for a total transaction of $626,973.04. Following the completion of the sale, the senior vice president directly owned 10,142 shares of the company’s stock, valued at $2,068,562.32. This trade represents a 23.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is owned by company insiders.

Eagle Materials Stock Down 1.8%

Shares of Eagle Materials stock opened at $184.40 on Thursday. The stock has a 50-day moving average price of $178.88 and a 200 day moving average price of $201.23. The company has a market cap of $5.61 billion, a P/E ratio of 15.30 and a beta of 1.29. The company has a current ratio of 3.29, a quick ratio of 1.95 and a debt-to-equity ratio of 1.13. Eagle Materials Inc has a 1 year low of $160.02 and a 1 year high of $245.53.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Wednesday, November 4th. The construction company reported $3.63 EPS for the quarter, missing the consensus estimate of $3.82 by ($0.19). The company had revenue of $652.75 million for the quarter, compared to analysts’ expectations of $633.08 million. Eagle Materials had a net margin of 16.11% and a return on equity of 25.16%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.23 earnings per share. As a group, analysts expect that Eagle Materials Inc will post 11.71 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 11th. Shareholders of record on Monday, December 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, December 14th. Eagle Materials’s dividend payout ratio is presently 8.30%.

Eagle Materials Company Profile

Eagle Materials Inc. is a U.S.-based producer of building materials used in residential, commercial and infrastructure construction. Its products include cement, ready-mixed concrete, aggregates, gypsum wallboard and recycled paperboard. The company operates through businesses focused on cement and concrete products, gypsum wallboard, and paperboard. Its gypsum operations also produce materials used in wallboard finishing, while its paperboard business makes recycled paperboard used in packaging and other applications.