Clearbridge Investments LLC Invests $15.69 Million in Eagle Materials Inc. (NYSE:EXP)

Clearbridge Investments LLC purchased a new position in shares of Eagle Materials Inc. (NYSE:EXP – Get Rating) in the 4th quarter, Holdings Channel reports. The firm purchased 118,102 shares of the construction company’s stock, valued at approximately $15,690,000.

Other hedge funds also recently made changes to their positions in the company. Prudential Financial Inc. boosted its holdings in shares of Eagle Materials by 180.3% in the 1st quarter. Prudential Financial Inc. now owns 470,479 shares of the construction company’s stock valued at $60,390,000 after buying an additional 302,625 shares during the last quarter. Epoch Investment Partners Inc. acquired a new stake in Eagle Materials during the 3rd quarter valued at $18,508,000. TD Asset Management Inc. acquired a new stake in Eagle Materials during the 3rd quarter valued at $16,448,000. Hodges Capital Management Inc. lifted its holdings in Eagle Materials by 98.6% during the 4th quarter. Hodges Capital Management Inc. now owns 244,272 shares of the construction company’s stock valued at $32,452,000 after purchasing an additional 121,277 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Eagle Materials by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 3,841,414 shares of the construction company’s stock valued at $411,723,000 after purchasing an additional 110,695 shares during the last quarter. 93.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP William R. Devlin sold 4,914 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $168.30, for a total value of $827,026.20. Following the transaction, the senior vice president now owns 26,269 shares in the company, valued at $4,421,072.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is owned by company insiders.

Eagle Materials Stock Up 1.0 %

EXP opened at $166.56 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.08 and a current ratio of 2.45. Eagle Materials Inc. has a fifty-two week low of $101.98 and a fifty-two week high of $169.19. The company has a market capitalization of $5.89 billion, a P/E ratio of 13.37 and a beta of 1.31. The stock has a fifty day moving average of $149.05 and a 200-day moving average of $141.91.

Eagle Materials (NYSE:EXP – Get Rating) last issued its quarterly earnings results on Thursday, May 18th. The construction company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.44. Eagle Materials had a return on equity of 40.09% and a net margin of 21.49%. The company had revenue of $470.10 million for the quarter, compared to analysts’ expectations of $452.11 million. During the same quarter last year, the business earned $1.90 earnings per share. Eagle Materials’s revenue was up 13.8% on a year-over-year basis. On average, equities analysts expect that Eagle Materials Inc. will post 13.04 EPS for the current year.

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 16th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend is Thursday, June 15th. Eagle Materials’s payout ratio is currently 8.03%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on EXP shares. DA Davidson raised their price target on Eagle Materials from $140.00 to $175.00 in a report on Monday. Stephens raised their price target on Eagle Materials from $170.00 to $190.00 in a report on Friday, May 19th. StockNews.com initiated coverage on Eagle Materials in a report on Thursday, May 18th. They set a “buy” rating for the company. Loop Capital lifted their target price on Eagle Materials from $160.00 to $181.00 in a report on Monday. Finally, Truist Financial lifted their target price on Eagle Materials from $155.00 to $195.00 in a report on Friday, May 19th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $168.75.

Eagle Materials Company Profile

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Eagle Materials, Inc engages in the provision of heavy construction materials and light building materials. It operates through the following segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The Cement segment deals with the manufacture, production, distribution, and sale of Portland cement.