Eagle Materials Inc. (NYSE:EXP) Shares Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd raised its stake in shares of Eagle Materials Inc. (NYSE:EXP) by 78.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,252 shares of the construction company’s stock after purchasing an additional 549 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Eagle Materials were worth $309,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Xponance Inc. increased its stake in Eagle Materials by 2.8% during the 4th quarter. Xponance Inc. now owns 6,045 shares of the construction company’s stock valued at $1,492,000 after purchasing an additional 162 shares in the last quarter. Intech Investment Management LLC acquired a new position in Eagle Materials during the 4th quarter valued at approximately $952,000. RD Lewis Holdings Inc. acquired a new position in Eagle Materials during the 4th quarter valued at approximately $285,000. 12th Street Asset Management Company LLC increased its stake in shares of Eagle Materials by 3.7% in the fourth quarter. 12th Street Asset Management Company LLC now owns 42,065 shares of the construction company’s stock worth $10,380,000 after acquiring an additional 1,511 shares during the period. Finally, HighTower Advisors LLC increased its stake in shares of Eagle Materials by 18.5% in the fourth quarter. HighTower Advisors LLC now owns 3,420 shares of the construction company’s stock worth $844,000 after acquiring an additional 533 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Insider Buying and Selling

In related news, Director Michael R. Nicolais purchased 310 shares of the company’s stock in a transaction on Monday, February 10th. The stock was acquired at an average cost of $257.36 per share, for a total transaction of $79,781.60. Following the completion of the transaction, the director now directly owns 3,655 shares in the company, valued at approximately $940,650.80. The trade was a 9.27 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 1.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Jefferies Financial Group lowered shares of Eagle Materials from a “buy” rating to a “hold” rating and cut their price objective for the stock from $330.00 to $310.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. cut their price objective on shares of Eagle Materials from $310.00 to $250.00 and set a “neutral” rating on the stock in a research note on Wednesday. Stephens reiterated an “overweight” rating and issued a $310.00 price objective on shares of Eagle Materials in a research note on Thursday, January 30th. Citigroup lowered shares of Eagle Materials from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $334.00 to $280.00 in a research note on Monday, January 6th. Finally, DA Davidson cut their price objective on shares of Eagle Materials from $265.00 to $260.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $286.40.

Eagle Materials Stock Performance

NYSE:EXP opened at $217.86 on Friday. The company’s 50-day moving average price is $238.68 and its 200-day moving average price is $265.83. The company has a current ratio of 2.76, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The company has a market cap of $7.25 billion, a P/E ratio of 15.56 and a beta of 1.37. Eagle Materials Inc. has a twelve month low of $205.44 and a twelve month high of $321.93.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Wednesday, January 29th. The construction company reported $3.59 earnings per share for the quarter, missing the consensus estimate of $3.97 by ($0.38). Eagle Materials had a return on equity of 34.14% and a net margin of 20.91%. On average, sell-side analysts forecast that Eagle Materials Inc. will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 17th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, March 17th. Eagle Materials’s payout ratio is currently 7.14%.

Eagle Materials Company 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.