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Ash Grove Cement buys initial 5% stake in Eagle Materials
By Lisa Kerner
Charlotte, N.C., Aug. 19 - A group of Eagle Materials Inc. investors led by Ash Grove Cement Co. purchased 2,194,298 shares for an initial 5% stake in the company.
The shares were bought between July 22 and Aug. 14 for a total of $53.57 million, or an average per-share price of $24.41, according to a schedule 13D filed with the Securities and Exchange Commission.
Dallas-based Eagle Materials manufactures, distributes and sells gypsum wallboard and cement primarily in the United States.
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