Mad River Investors Invests $1.55 Million in Eagle Materials Inc. (NYSE:EXP)

Mad River Investors bought a new stake in Eagle Materials Inc. (NYSE:EXP) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,710 shares of the construction company’s stock, valued at approximately $1,552,000. Eagle Materials makes up about 1.1% of Mad River Investors’ investment portfolio, making the stock its 15th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tompkins Financial Corp bought a new position in shares of Eagle Materials in the 1st quarter valued at about $27,000. Rise Advisors LLC acquired a new position in shares of Eagle Materials during the 1st quarter worth approximately $27,000. Global Wealth Management Investment Advisory Inc. bought a new stake in shares of Eagle Materials during the 4th quarter worth approximately $30,000. Planned Solutions Inc. acquired a new stake in shares of Eagle Materials in the 4th quarter valued at approximately $35,000. Finally, Evermay Wealth Management LLC bought a new position in shares of Eagle Materials in the fourth quarter valued at $61,000. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on EXP. JPMorgan Chase & Co. increased their price target on shares of Eagle Materials from $200.00 to $265.00 and gave the company a “neutral” rating in a research note on Friday, March 22nd. Stephens increased their price target on Eagle Materials from $250.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Citigroup cut their target price on shares of Eagle Materials from $311.00 to $297.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. The Goldman Sachs Group upped their price target on shares of Eagle Materials from $238.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Truist Financial raised their price objective on shares of Eagle Materials from $290.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $279.67.

Eagle Materials Price Performance

Shares of EXP traded up $3.13 during midday trading on Thursday, hitting $217.52. The company’s stock had a trading volume of 167,167 shares, compared to its average volume of 328,091. The company has a quick ratio of 1.06, a current ratio of 2.62 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $7.36 billion, a price-to-earnings ratio of 15.97 and a beta of 1.32. Eagle Materials Inc. has a one year low of $145.03 and a one year high of $276.61. The company’s fifty day simple moving average is $238.86 and its two-hundred day simple moving average is $237.11.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Tuesday, May 21st. The construction company reported $2.24 EPS for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.48). The firm had revenue of $476.70 million during the quarter, compared to the consensus estimate of $480.20 million. Eagle Materials had a net margin of 21.14% and a return on equity of 37.31%. The firm’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.79 earnings per share. As a group, equities analysts expect that Eagle Materials Inc. will post 16.01 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. Eagle Materials’s dividend payout ratio (DPR) is presently 7.34%.

Eagle Materials Profile

Eagle Materials Inc, through its subsidiaries, manufactures and sells heavy construction materials and light building materials in the United States. It operates in four segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland cement, including Portland limestone cement; grinding and sale of slag; and mining of gypsum for the manufacture and sale of gypsum wallboards used to finish the interior walls and ceilings in residential, commercial, and industrial structures, as well as well as containerboard and lightweight packaging grades; manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and mining and sale of aggregates, such as crushed stone, sand, and gravel.