Keybank National Association OH, a financial institution based in Ohio, has increased its position in Eagle Materials Inc. during the first quarter of the year. According to their recent 13F filing with the Securities and Exchange Commission (SEC), Keybank National Association OH now owns 6,103 shares of the construction company’s stock, representing a 34% increase compared to its previous holdings. The additional 1,548 shares bring the total value of their stake in Eagle Materials to $896,000.
Eagle Materials Inc., listed on the New York Stock Exchange under the ticker symbol EXP, is known for its expertise in the field of construction materials. The company has been attracting attention from investors due to its solid performance and potential for growth.
In addition to this development, Eagle Materials recently announced that it will be paying out a quarterly dividend. Scheduled for Monday, October 16th, shareholders of record on Friday, September 15th will receive a dividend of $0.25 per share. This amounts to an annualized dividend of $1.00 per share and translates to a yield of 0.57%.
The payout ratio for Eagle Materials currently stands at 7.63%, indicating that the company is distributing a small portion of its earnings back to shareholders as dividends. This may suggest that there is room for future dividend growth or reinvestment into the business.
Investors and market observers will likely be monitoring these developments closely as they assess Eagle Material’s financial health and prospects moving forward.
(Note: This article was written on August 20, 2023)
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Institutional Investors and Analysts React to Recent Developments in Eagle Materials Inc.
In recent months, there have been several developments in relation to Eagle Materials Inc., a leading construction company. Various institutional investors and hedge funds have either increased or decreased their stakes in the company, indicating changes in investor sentiment.
One notable event was the acquisition of a new position in Eagle Materials by Point72 Middle East FZE during the fourth quarter of the previous year. This new position was valued at $31,000, adding an interesting dynamic to the company’s shareholder base. Additionally, Global Retirement Partners LLC saw substantial growth in its holdings of Eagle Materials, with a 681.5% increase during the first quarter. The firm now owns 211 shares of the company’s stock valued at $32,000 after purchasing an additional 184 shares.
Byrne Asset Management LLC and Harbor Investment Advisory LLC also acquired new positions in Eagle Materials during the first quarter. Both positions were valued at $34,000 each, further diversifying the ownership structure of the company. Finally, Parallel Advisors LLC witnessed significant growth in its holdings of Eagle Materials by 372.7% during the same period. The firm now owns 312 shares valued at $46,000.
Interestingly, institutional investors and hedge funds now own approximately 92.84% of Eagle Material’s stock, indicating a high level of interest from these key players within the financial industry.
Financial analysts have also weighed in on Eagle Material’s prospects. Citigroup provided a “buy” rating for the company and upped their target price from $215 to $219 per share in a research report on August 10th. Similarly, Loop Capital increased their target price from $160 to $181 per share while DA Davidson raised theirs from $140 to $175 per share.
Raymond James gave an “outperform” rating and upped their target price from $176 to $193 per share on August 1st. Furthermore, Stephens raised their target price from $190 to $230 per share on July 26th. With one analyst rating the stock as “sell,” one giving a “hold” rating, and seven issuing a “buy” rating, Eagle Materials currently has a consensus rating of “Moderate Buy.” The average target price for the company is $198.80.
As of Friday, August 20, shares of Eagle Materials opened at $175.45. The stock has shown strong performance with a 12-month high of $194.05 and a low of $101.98. The business maintains a 50-day simple moving average of $182.41 and a two-hundred day simple moving average of $160.61.
With regards to the financial position of the company, Eagle Materials Inc. boasts a quick ratio of 1.36 and a current ratio of 2.68, indicating its ability to meet short-term obligations effectively. Additionally, the company’s debt-to-equity ratio stands at 0.92, demonstrating prudent financial management practices.
In terms of financial performance, Eagle Materials posted strong earnings results for the quarter ending on July 27th. The construction company reported earnings per share (EPS) of $3.55, slightly exceeding analysts’ consensus estimates by $0.01 per share.
Furthermore, Eagle Materials showcased an impressive return on equity (ROE) of 40.68% and a net margin of 21.82%, highlighting its profitability in the industry sector. The business generated revenue totaling $601.50 million during the quarter, surpassing analysts’ expectations despite minimal variance compared to prior-year figures.
Looking ahead to the current fiscal year, analysts project that Eagle Materials will post earnings per share amounting to $13.89.
As these developments continue to shape Eagle Material’s trajectory within the construction industry, investors eagerly await further news regarding the company’s performance and strategic initiatives in order to make informed investment decisions.
