Old Mutual Global Investors UK Ltd. reduced its holdings in shares of Eagle Materials Inc (NYSE:EXP) by 95.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,100 shares of the construction company’s stock after selling 42,113 shares during the quarter. Old Mutual Global Investors UK Ltd.’s holdings in Eagle Materials were worth $194,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. American Century Companies Inc. lifted its stake in Eagle Materials by 8.4% in the 2nd quarter. American Century Companies Inc. now owns 180,992 shares of the construction company’s stock worth $16,727,000 after purchasing an additional 14,020 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Eagle Materials by 10.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 11,544 shares of the construction company’s stock worth $1,067,000 after purchasing an additional 1,052 shares in the last quarter. Prudential Financial Inc. lifted its stake in Eagle Materials by 39.7% in the 2nd quarter. Prudential Financial Inc. now owns 419,711 shares of the construction company’s stock worth $38,789,000 after purchasing an additional 119,184 shares in the last quarter. Vanguard Group Inc. lifted its stake in Eagle Materials by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 3,742,598 shares of the construction company’s stock worth $363,557,000 after purchasing an additional 179,308 shares in the last quarter. Finally, Barings LLC purchased a new stake in Eagle Materials in the 1st quarter worth approximately $1,865,000. Institutional investors own 91.08% of the company’s stock.
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Eagle Materials Inc (EXP) opened at 102.59 on Wednesday. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 23.85 and a beta of 1.18. The stock has a 50 day moving average of $92.93 and a 200-day moving average of $95.64. Eagle Materials Inc has a one year low of $73.27 and a one year high of $110.64.
Eagle Materials (NYSE:EXP) last released its earnings results on Thursday, July 27th. The construction company reported $1.17 EPS for the quarter, hitting the consensus estimate of $1.17. Eagle Materials had a net margin of 16.23% and a return on equity of 18.29%. The firm had revenue of $366.10 million for the quarter, compared to the consensus estimate of $369.68 million. During the same quarter in the previous year, the firm earned $0.93 earnings per share. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. On average, equities analysts predict that Eagle Materials Inc will post $5.38 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 7th. Stockholders of record on Friday, October 6th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Thursday, October 5th. Eagle Materials’s dividend payout ratio (DPR) is presently 9.30%.
In other news, insider Gerald J. Essl sold 2,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $93.40, for a total value of $186,800.00. Following the transaction, the insider now owns 39,859 shares of the company’s stock, valued at $3,722,830.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Dale Craig Kesler sold 5,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $101.40, for a total transaction of $507,000.00. Following the completion of the transaction, the chief financial officer now directly owns 61,778 shares in the company, valued at approximately $6,264,289.20. The disclosure for this sale can be found here. Insiders sold 63,240 shares of company stock worth $6,137,043 in the last three months. Insiders own 4.10% of the company’s stock.
Several research firms have issued reports on EXP. BidaskClub upgraded shares of Eagle Materials from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 5th. Zacks Investment Research cut shares of Eagle Materials from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Standpoint Research upgraded shares of Eagle Materials from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Citigroup Inc. upgraded shares of Eagle Materials from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $115.00 to $110.00 in a research note on Monday, July 31st. Finally, Stephens upgraded shares of Eagle Materials from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 30th. Two equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $104.67.
Eagle Materials Company Profile
Eagle Materials Inc is a supplier of construction products, building materials and materials used for oil and natural gas extraction. The Company operates through five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants. The Company’s construction products are used in residential, industrial, commercial and infrastructure construction, and include cement, slag, concrete and aggregates.
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