M&G Plc Invests $9.63 Million in Eagle Materials Inc. (NYSE:EXP)

M&G Plc acquired a new stake in Eagle Materials Inc. (NYSE:EXP) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,396 shares of the construction company’s stock, valued at approximately $9,628,000. M&G Plc owned 0.10% of Eagle Materials at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of EXP. Eagle Bay Advisors LLC lifted its position in Eagle Materials by 79.2% in the first quarter. Eagle Bay Advisors LLC now owns 95 shares of the construction company’s stock valued at $26,000 after buying an additional 42 shares during the last quarter. Rise Advisors LLC acquired a new position in Eagle Materials in the first quarter valued at about $27,000. YHB Investment Advisors Inc. acquired a new position in Eagle Materials in the first quarter valued at about $27,000. Tompkins Financial Corp acquired a new position in Eagle Materials in the first quarter valued at about $27,000. Finally, Global Wealth Management Investment Advisory Inc. acquired a new position in Eagle Materials in the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Eagle Materials Stock Down 0.0 %

Eagle Materials stock traded down $0.01 during mid-day trading on Friday, hitting $229.92. The company had a trading volume of 228,243 shares, compared to its average volume of 369,262. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of 16.88 and a beta of 1.32. Eagle Materials Inc. has a 1 year low of $145.03 and a 1 year high of $276.61. 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 business has a fifty day moving average of $230.32 and a 200 day moving average of $238.94.

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 the consensus estimate of $2.72 by ($0.48). The company had revenue of $476.70 million during the quarter, compared to analysts’ expectations of $480.20 million. Eagle Materials had a net margin of 21.14% and a return on equity of 37.31%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.79 earnings per share. On average, sell-side analysts expect that Eagle Materials Inc. will post 15.58 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, June 17th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. Eagle Materials’s dividend payout ratio (DPR) is presently 7.34%.

Analysts Set New Price Targets

A number of research analysts have commented on EXP shares. Jefferies Financial Group upped their target price on shares of Eagle Materials from $270.00 to $283.00 and gave the company a “buy” rating in a research report on Wednesday. Stephens increased their price target on shares of Eagle Materials from $250.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. Citigroup reduced their price target on shares of Eagle Materials from $297.00 to $252.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. StockNews.com cut shares of Eagle Materials from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Finally, The Goldman Sachs Group upped their target price on shares of Eagle Materials from $238.00 to $273.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $281.00.

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.