Eagle Materials (EXP) Rose on Positive Market Sentiment

Liberty Park Capital Management, LLC, a financial management company, released its second quarter 2023 investor letter. A copy of the same can be downloaded here. Liberty Park Fund rose 14.60%, net of fees, in the second quarter compared to the Russell 2000 Index’s 5.18% return. Both the Liberty Park funds delivered excellent results in the quarter. The increase in the fund’s long positions contributed 15.28% on a weight-adjusted basis, while the increase in shorts detracted 0.96% on a weight-adjusted basis. Liberty Park Select Opportunities, LP’s value returned 19.46% net of fees in the second quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Liberty Park Capital highlighted stocks like Eagle Materials Inc. (NYSE:EXP) in the second quarter 2023 investor letter. Headquartered in Dallas, Texas, Eagle Materials Inc. (NYSE:EXP) is a heavy construction material and light building materials supplier. On September 28, 2023, Eagle Materials Inc. (NYSE:EXP) stock closed at $168.87 per share. One-month return of Eagle Materials Inc. (NYSE:EXP) was -13.30%, and its shares gained 57.56% of their value over the last 52 weeks. Eagle Materials Inc. (NYSE:EXP) has a market capitalization of $6.011 billion.

Liberty Park Capital made the following comment about Eagle Materials Inc. (NYSE:EXP) in its Q2 2023 investor letter:

“Eagle Materials Inc. (NYSE:EXP) rose along with homebuilders as builder sentiment improved. Commercial construction end markets have been strong throughout the past year and residential construction seems to have turned a corner as home buyers are forced to build due to a lack of existing inventory.”

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Eagle Materials Inc. (NYSE:EXP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held Eagle Materials Inc. (NYSE:EXP) at the end of second quarter which was 26 in the previous quarter.

We discussed Eagle Materials Inc. (NYSE:EXP) in another article and shared L1 Capital International Fund’s views on the company. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.