Sachem builds nine percent stake in Eagle Materials, seeks to engage with co

(Reuters) – Sachem Head Capital Management has amassed a 9 percent stake in construction materials company Eagle Materials Inc and said it wants to engage with the company’s management.

The New York-based hedge fund called Eagle Materials’ stock undervalued and an attractive investment in a filing on Thursday.

Shares of the company are up about 20 percent this year. They fell nearly 48 percent in 2018.

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