Magnetar Financial LLC Purchases New Shares in Eagle Materials Inc $EXP

Magnetar Financial LLC purchased a new position in shares of Eagle Materials Inc (NYSE:EXP) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,088 shares of the construction company’s stock, valued at approximately $422,000.

Other institutional investors also recently bought and sold shares of the company. Hantz Financial Services Inc. boosted its stake in shares of Eagle Materials by 7,750.0% during the second quarter. Hantz Financial Services Inc. now owns 157 shares of the construction company’s stock worth $32,000 after buying an additional 155 shares during the period. SVB Wealth LLC acquired a new stake in Eagle Materials during the 1st quarter worth approximately $41,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Eagle Materials by 62.5% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 208 shares of the construction company’s stock valued at $42,000 after purchasing an additional 80 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Eagle Materials by 486.6% in the first quarter. Assetmark Inc. now owns 393 shares of the construction company’s stock valued at $87,000 after purchasing an additional 326 shares during the period. Finally, Sprucegrove Investment Management Ltd. acquired a new position in shares of Eagle Materials in the second quarter valued at approximately $121,000. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Eagle Materials Stock Performance

NYSE:EXP opened at $219.52 on Wednesday. The firm’s fifty day simple moving average is $223.44 and its 200-day simple moving average is $220.84. The company has a quick ratio of 1.26, a current ratio of 2.73 and a debt-to-equity ratio of 0.87. The stock has a market cap of $7.04 billion, a PE ratio of 16.16 and a beta of 1.31. Eagle Materials Inc has a fifty-two week low of $191.91 and a fifty-two week high of $313.86.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings data on Thursday, October 30th. The construction company reported $4.23 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.12). Eagle Materials had a net margin of 19.81% and a return on equity of 31.21%. The company had revenue of $638.91 million during the quarter, compared to analyst estimates of $635.55 million. During the same quarter last year, the business earned $4.31 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Analysts expect that Eagle Materials Inc will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Monday, December 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Eagle Materials’s payout ratio is 7.38%.

Analyst Upgrades and Downgrades

EXP has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Eagle Materials from $245.00 to $230.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Stifel Nicolaus set a $246.00 target price on shares of Eagle Materials in a research note on Monday, October 27th. Zacks Research downgraded shares of Eagle Materials from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Citigroup cut their price target on shares of Eagle Materials from $255.00 to $233.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Finally, Wall Street Zen upgraded shares of Eagle Materials from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $243.30.

Insider Buying and Selling at Eagle Materials

In other news, Director David E. Rush acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was purchased at an average cost of $208.08 per share, with a total value of $208,080.00. Following the purchase, the director directly owned 4,173 shares of the company’s stock, valued at approximately $868,317.84. This trade represents a 31.52% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

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.