Alyeska Investment Group L.P. Invests $5.60 Million in Eagle Materials Inc. (NYSE:EXP)

Alyeska Investment Group L.P. bought a new position in shares of Eagle Materials Inc. (NYSE:EXP) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 41,692 shares of the construction company’s stock, valued at approximately $5,604,000. Alyeska Investment Group L.P. owned 0.10% of Eagle Materials at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Perigon Wealth Management LLC acquired a new position in shares of Eagle Materials during the 1st quarter worth approximately $395,000. Glenmede Trust Co. NA raised its stake in shares of Eagle Materials by 1.5% during the 1st quarter. Glenmede Trust Co. NA now owns 7,872 shares of the construction company’s stock worth $1,058,000 after buying an additional 117 shares during the period. Ameritas Investment Company LLC acquired a new position in Eagle Materials in the 1st quarter valued at $173,000. Schonfeld Strategic Advisors LLC raised its stake in Eagle Materials by 25.7% in the 1st quarter. Schonfeld Strategic Advisors LLC now owns 48,200 shares of the construction company’s stock valued at $6,479,000 after purchasing an additional 9,850 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Eagle Materials by 840.9% in the 1st quarter. AQR Capital Management LLC now owns 109,328 shares of the construction company’s stock valued at $14,695,000 after purchasing an additional 97,708 shares during the last quarter. 94.68% of the stock is owned by institutional investors and hedge funds.

In other news, EVP James H. Graass sold 11,348 shares of the stock in a transaction on Wednesday, May 26th. The stock was sold at an average price of $145.61, for a total transaction of $1,652,382.28. Following the completion of the transaction, the executive vice president now directly owns 62,050 shares in the company, valued at approximately $9,035,100.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director F William Barnett sold 17,033 shares of the stock in a transaction on Monday, June 7th. The stock was sold at an average price of $147.90, for a total value of $2,519,180.70. Following the transaction, the director now owns 13,843 shares of the company’s stock, valued at $2,047,379.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,715 shares of company stock valued at $7,297,968. Company insiders own 1.50% of the company’s stock.

Several research analysts recently commented on EXP shares. JPMorgan Chase & Co. increased their price objective on Eagle Materials from $130.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, May 26th. Loop Capital increased their price objective on Eagle Materials from $145.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, May 14th. Zacks Investment Research downgraded Eagle Materials from a “buy” rating to a “hold” rating in a research note on Wednesday, July 14th. DA Davidson increased their price objective on Eagle Materials from $120.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, May 20th. They noted that the move was a valuation call. Finally, Jefferies Financial Group upgraded Eagle Materials from a “hold” rating to a “buy” rating and upped their target price for the company from $145.00 to $170.00 in a report on Monday, May 10th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $147.33.

Shares of NYSE:EXP opened at $137.13 on Thursday. The company has a current ratio of 3.91, a quick ratio of 2.52 and a debt-to-equity ratio of 0.74. The company has a fifty day moving average of $143.40. The stock has a market cap of $5.80 billion, a PE ratio of 16.89 and a beta of 1.23. Eagle Materials Inc. has a 52-week low of $77.37 and a 52-week high of $153.71.

Eagle Materials (NYSE:EXP) last released its quarterly earnings results on Tuesday, May 18th. The construction company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.32. The business had revenue of $343.30 million during the quarter, compared to analysts’ expectations of $332.37 million. Eagle Materials had a return on equity of 24.40% and a net margin of 20.91%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.28 EPS. Analysts predict that Eagle Materials Inc. will post 8.49 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 16th. Stockholders of record on Friday, June 18th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, June 17th. This is a boost from Eagle Materials’s previous quarterly dividend of $0.10. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.73%. Eagle Materials’s dividend payout ratio is currently 14.58%.

Eagle Materials Profile

Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials, light building materials, and materials used for oil and natural gas extraction in the United States. It operates in five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants.

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Institutional Ownership by Quarter for Eagle Materials (NYSE:EXP)

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