Black Creek Investment Management Inc. Buys New Stake in Eagle Materials Inc $EXP

Black Creek Investment Management Inc. bought a new stake in shares of Eagle Materials Inc (NYSE:EXP) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 502,120 shares of the construction company’s stock, valued at approximately $103,778,000. Eagle Materials accounts for about 5.1% of Black Creek Investment Management Inc.’s investment portfolio, making the stock its 9th largest position. Black Creek Investment Management Inc. owned about 1.60% of Eagle Materials as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EXP. Focus Partners Wealth lifted its position in Eagle Materials by 21.5% during the first quarter. Focus Partners Wealth now owns 2,019 shares of the construction company’s stock valued at $448,000 after purchasing an additional 357 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Eagle Materials by 102.4% in the second quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company’s stock worth $35,000 after acquiring an additional 87 shares during the period. First Trust Advisors LP raised its position in shares of Eagle Materials by 5.8% in the second quarter. First Trust Advisors LP now owns 101,969 shares of the construction company’s stock worth $20,609,000 after acquiring an additional 5,612 shares during the period. Baird Financial Group Inc. raised its position in shares of Eagle Materials by 8.0% in the second quarter. Baird Financial Group Inc. now owns 1,364 shares of the construction company’s stock worth $276,000 after acquiring an additional 101 shares during the period. Finally, Jump Financial LLC raised its position in shares of Eagle Materials by 359.9% in the second quarter. Jump Financial LLC now owns 12,510 shares of the construction company’s stock worth $2,528,000 after acquiring an additional 9,790 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EXP. Citigroup decreased their price objective on shares of Eagle Materials from $224.00 to $217.00 and set a “neutral” rating for the company in a research report on Thursday, May 21st. JPMorgan Chase & Co. upgraded shares of Eagle Materials from an “underweight” rating to a “neutral” rating and set a $225.00 price objective for the company in a research report on Tuesday, June 2nd. Royal Bank Of Canada upped their price objective on shares of Eagle Materials from $208.00 to $219.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 20th. Wells Fargo & Company upped their price objective on shares of Eagle Materials from $240.00 to $246.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Finally, Zacks Research upgraded shares of Eagle Materials from a “strong sell” rating to a “hold” rating in a research report on Monday, March 23rd. One analyst has rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $224.30.

Eagle Materials Stock Down 1.0%

EXP stock opened at $214.86 on Friday. The stock has a market capitalization of $6.65 billion, a P/E ratio of 16.38 and a beta of 1.37. The firm has a 50-day simple moving average of $205.45 and a 200-day simple moving average of $211.51. The company has a quick ratio of 2.09, a current ratio of 3.66 and a debt-to-equity ratio of 1.18. Eagle Materials Inc has a 52 week low of $171.99 and a 52 week high of $243.64.

Eagle Materials (NYSE:EXP) last released its earnings results on Tuesday, May 19th. The construction company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.32. The business had revenue of $479.11 million during the quarter, compared to analysts’ expectations of $451.99 million. Eagle Materials had a net margin of 18.36% and a return on equity of 28.27%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.00 earnings per share. Equities analysts forecast that Eagle Materials Inc will post 13.02 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Eagle Materials’s payout ratio is currently 7.62%.

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.