Eagle Materials Inc $EXP Shares Purchased by Hodges Capital Management Inc.

Hodges Capital Management Inc. raised its position in shares of Eagle Materials Inc (NYSE:EXP) by 9.8% in the third quarter, Holdings Channel reports. The fund owned 117,044 shares of the construction company’s stock after buying an additional 10,479 shares during the quarter. Eagle Materials comprises approximately 2.3% of Hodges Capital Management Inc.’s investment portfolio, making the stock its 7th biggest holding. Hodges Capital Management Inc.’s holdings in Eagle Materials were worth $27,276,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in EXP. Frontier Capital Management Co. LLC lifted its position in shares of Eagle Materials by 36.0% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 830,284 shares of the construction company’s stock worth $167,809,000 after purchasing an additional 219,627 shares during the last quarter. American Century Companies Inc. increased its position in Eagle Materials by 80.9% in the 2nd quarter. American Century Companies Inc. now owns 521,276 shares of the construction company’s stock worth $105,356,000 after buying an additional 233,153 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Eagle Materials by 14.6% during the third quarter. Principal Financial Group Inc. now owns 511,372 shares of the construction company’s stock worth $119,179,000 after buying an additional 65,072 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Eagle Materials by 61.1% in the third quarter. Bank of New York Mellon Corp now owns 500,474 shares of the construction company’s stock valued at $116,630,000 after acquiring an additional 189,725 shares during the period. Finally, Federated Hermes Inc. grew its stake in shares of Eagle Materials by 0.6% in the third quarter. Federated Hermes Inc. now owns 463,693 shares of the construction company’s stock worth $108,059,000 after acquiring an additional 2,772 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Eagle Materials Stock Performance

NYSE:EXP opened at $229.67 on Wednesday. Eagle Materials Inc has a 12-month low of $191.91 and a 12-month high of $258.86. The company has a quick ratio of 2.68, a current ratio of 4.27 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $7.22 billion, a PE ratio of 17.39 and a beta of 1.38. The firm has a 50-day moving average price of $222.14 and a 200 day moving average price of $224.61.

Eagle Materials (NYSE:EXP) last released its quarterly earnings data on Thursday, January 29th. The construction company reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.32 by ($0.10). Eagle Materials had a net margin of 18.70% and a return on equity of 28.96%. The company had revenue of $555.96 million for the quarter, compared to analyst estimates of $556.41 million. During the same period in the previous year, the firm posted $3.59 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. Research analysts anticipate that Eagle Materials Inc will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Monday, March 16th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, March 16th. Eagle Materials’s dividend payout ratio is 7.57%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on EXP shares. Wells Fargo & Company cut their target price on shares of Eagle Materials from $251.00 to $241.00 and set an “overweight” rating for the company in a research note on Thursday, January 29th. Stephens reaffirmed an “equal weight” rating and set a $245.00 price objective on shares of Eagle Materials in a research report on Tuesday, January 20th. Jefferies Financial Group reiterated a “hold” rating and issued a $226.00 target price on shares of Eagle Materials in a research note on Monday, November 3rd. Truist Financial restated a “hold” rating and set a $210.00 price target (down from $280.00) on shares of Eagle Materials in a research note on Friday, December 19th. Finally, Citigroup reduced their price objective on Eagle Materials from $232.00 to $224.00 and set a “neutral” rating for the company in a research report on Tuesday, February 3rd. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $230.40.

Eagle Materials Company Profile

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.