On Tuesday, March 7, the SMIF class heard from Rory Bonner, who pitched Eagle Materials (EXP). Eagle Materials is a diversified manufacturing company specializing in the production of slag, concrete, aggregate, gypsum wallboard, and recycled paperboard. With over 50% of Eagle’s revenue coming from government, Rory believes they will benefit from the Trump Administrations increased spending in infrastructure. Rory also cited that currently SMIFs materials exposure is very limited, with only 1 or 2 holdings. Eagle Materials faces competition from companies such as USG, Martin Marietta, and Vulcan, however Eagle’s superior margins are estimated to deliver better long term profits. Rory motioned to purchase 70 shares of EXP; the motion passed 29:1.