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Thinking of trading EAGLE MATERIALS?

    1. Sachem Head would like the company to seek buyers for its cement and wallboard units, which have been better performers. The activist further believes that given Eagle's pristine balance sheet, it is well-positioned to use borrowings to fund an expanded share buyback. 2. Eagle Materials management in January was optimistic that after a calendar 2018 that was plagued by one-off items including unusual weather and a shift in the timing of wallboard price increases, calendar 2019 was poised for improvement. Investors seemed intrigued, with the stock up nearly 20% year to date even before word of Sachem Head's potential involvement was made public.
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Eagle Materials Inc. is a producer of building materials based in Dallas, Texas. The company produces cement, concrete, construction aggregate, gypsum, wallboard, paperboard, and sand for hydraulic fracturing. It was founded in 1963. The company is trading in the NYSE with the ticker EXP, and it is also a component of the S&P 400. In September 2012, the company acquired plants in Sugar Creek, Missouri and Tulsa, Oklahoma from Lafarge for $446 million. In October 2014, the company acquired CRS Proppants LLC, a frac sand supplier, for $225 million and in 2017 it acquired a cement plant in Ohio from Cemex for $400 million.

1. New York hedge fund Sachem Head Capital Management has built a 9% stake in Eagle Materials ahead of a push for divestitures, according to a Bloomberg report. Sachem reportedly wants Eagle to consider divesting its frac-sand business, believing that the unit, which is tied to the oil and gas industry, has depressed Eagle's valuation in recent years. 2. The company's priorities will be to make acquisitions that meet its strict return standards, undertake organic investments that strengthen its low-cost positions, and return cash to investors, mainly via share repurchases.