Harber Asset Management LLC Makes New Investment in Eagle Materials Inc $EXP

Harber Asset Management LLC acquired a new position in Eagle Materials Inc (NYSE:EXP) during the second quarter, HoldingsChannel reports. The institutional investor acquired 14,568 shares of the construction company’s stock, valued at approximately $3,278,000. Eagle Materials makes up about 2.0% of Harber Asset Management LLC’s holdings, making the stock its 26th biggest position.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Eagle Materials in the second quarter valued at $688,486,000. Black Creek Investment Management Inc. purchased a new stake in shares of Eagle Materials in the 4th quarter worth about $103,778,000. Norges Bank purchased a new stake in shares of Eagle Materials in the 4th quarter worth about $90,147,000. Baupost Group LLC MA boosted its stake in shares of Eagle Materials by 39.0% during the 3rd quarter. Baupost Group LLC MA now owns 939,660 shares of the construction company’s stock valued at $218,978,000 after purchasing an additional 263,403 shares in the last quarter. Finally, Earnest Partners LLC bought a new stake in shares of Eagle Materials during the 4th quarter valued at about $52,674,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Trading Up 2.1%

Shares of NYSE EXP opened at $207.15 on Friday. Eagle Materials Inc has a 1 year low of $171.99 and a 1 year high of $245.53. The stock has a market cap of $6.35 billion, a P/E ratio of 16.38 and a beta of 1.38. The firm has a 50-day moving average of $213.74 and a 200 day moving average of $209.15. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.23 and a quick ratio of 1.91.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.29 EPS for the quarter, missing the consensus estimate of $3.37 by ($0.08). The business had revenue of $650.97 million for the quarter, compared to the consensus estimate of $620.35 million. Eagle Materials had a return on equity of 26.87% and a net margin of 17.32%.The company’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.76 EPS. As a group, sell-side analysts expect that Eagle Materials Inc will post 12.66 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Monday, September 14th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 14th. Eagle Materials’s payout ratio is currently 7.91%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Eagle Materials in a research report on Tuesday, June 16th. Jefferies Financial Group restated a “hold” rating and issued a $200.00 price objective on shares of Eagle Materials in a report on Wednesday, May 20th. Royal Bank Of Canada lifted their price objective on Eagle Materials from $208.00 to $219.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 20th. Stephens upped their target price on Eagle Materials from $225.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Finally, Zacks Research lowered Eagle Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $222.56.

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.