Bastion Asset Management Inc. Acquires 3,766 Shares of Eagle Materials Inc $EXP

Bastion Asset Management Inc. lifted its holdings in shares of Eagle Materials Inc (NYSE:EXP) by 23.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,116 shares of the construction company’s stock after buying an additional 3,766 shares during the quarter. Bastion Asset Management Inc. owned about 0.06% of Eagle Materials worth $3,770,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Clearstead Advisors LLC raised its position in shares of Eagle Materials by 266.7% during the 4th quarter. Clearstead Advisors LLC now owns 132 shares of the construction company’s stock valued at $27,000 after acquiring an additional 96 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Eagle Materials in the fourth quarter valued at about $29,000. IFP Advisors Inc increased its holdings in Eagle Materials by 389.3% in the fourth quarter. IFP Advisors Inc now owns 137 shares of the construction company’s stock valued at $28,000 after purchasing an additional 109 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new position in Eagle Materials in the third quarter valued at about $34,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Eagle Materials by 102.4% during the second quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company’s stock worth $35,000 after buying an additional 87 shares during the last quarter. 96.07% of the stock is owned by institutional investors.

Eagle Materials Trading Up 3.5%

NYSE EXP opened at $213.78 on Friday. The firm has a market cap of $6.61 billion, a P/E ratio of 16.29 and a beta of 1.37. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.66 and a quick ratio of 2.09. The stock’s 50-day moving average is $213.42 and its 200-day moving average is $211.20. Eagle Materials Inc has a one year low of $171.99 and a one year high of $245.53.

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

Eagle Materials Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently commented on EXP shares. Stephens lowered their price target on Eagle Materials from $235.00 to $225.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 20th. Wells Fargo & Company reduced their price objective on shares of Eagle Materials from $246.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 8th. Royal Bank Of Canada boosted their price objective on shares of Eagle Materials from $208.00 to $219.00 and gave the company a “sector perform” rating in a report on Wednesday, May 20th. Citigroup upped their target price on shares of Eagle Materials from $217.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Finally, JPMorgan Chase & Co. upgraded shares of Eagle Materials from an “underweight” rating to a “neutral” rating and set a $225.00 target price on the stock in a report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Eagle Materials presently has an average rating of “Hold” and an average target price of $226.00.

About Eagle Materials

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.