Rainier Investment Management LLC Reduces Stake in Eagle Materials Inc (EXP)
Rainier Investment Management LLC lowered its position in Eagle Materials Inc (NYSE:EXP) by 55.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,070 shares of the construction company’s stock after selling 69,870 shares during the period. Eagle Materials comprises about 1.0% of Rainier Investment Management LLC’s investment portfolio, making the stock its 26th largest position. Rainier Investment Management LLC owned about 0.12% of Eagle Materials worth $5,274,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in EXP. IFP Advisors Inc boosted its position in shares of Eagle Materials by 38.1% in the first quarter. IFP Advisors Inc now owns 1,092 shares of the construction company’s stock worth $106,000 after buying an additional 301 shares during the last quarter. Global X Management Co. LLC boosted its position in shares of Eagle Materials by 220.0% in the second quarter. Global X Management Co. LLC now owns 1,536 shares of the construction company’s stock worth $142,000 after buying an additional 1,056 shares during the last quarter. Coldstream Capital Management Inc. boosted its position in shares of Eagle Materials by 2.5% in the first quarter. Coldstream Capital Management Inc. now owns 2,265 shares of the construction company’s stock worth $220,000 after buying an additional 55 shares during the last quarter. Oakbrook Investments LLC boosted its position in shares of Eagle Materials by 7.6% in the second quarter. Oakbrook Investments LLC now owns 2,400 shares of the construction company’s stock worth $222,000 after buying an additional 170 shares during the last quarter. Finally, M&T Bank Corp boosted its position in shares of Eagle Materials by 14.8% in the first quarter. M&T Bank Corp now owns 2,347 shares of the construction company’s stock worth $228,000 after buying an additional 302 shares during the last quarter. Institutional investors own 93.07% of the company’s stock.
Eagle Materials Inc (NYSE:EXP) opened at 90.68 on Thursday. Eagle Materials Inc has a 52-week low of $73.27 and a 52-week high of $110.64. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 21.08 and a beta of 1.23. The stock has a 50 day moving average of $92.19 and a 200-day moving average of $97.11.
Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Thursday, July 27th. The construction company reported $1.17 EPS for the quarter, meeting the consensus estimate of $1.17. Eagle Materials had a return on equity of 18.29% and a net margin of 16.23%. The company had revenue of $366.10 million for the quarter, compared to the consensus estimate of $369.68 million. During the same quarter last year, the company posted $0.93 earnings per share. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. On average, analysts expect that Eagle Materials Inc will post $5.38 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 7th. Shareholders of record on Friday, October 6th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.40 annualized dividend and a yield of 0.44%. Eagle Materials’s dividend payout ratio (DPR) is presently 9.30%.
ILLEGAL ACTIVITY WARNING: “Rainier Investment Management LLC Reduces Stake in Eagle Materials Inc (EXP)” was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this story on another domain, it was stolen and reposted in violation of US and international trademark & copyright laws. The original version of this story can be read at https://www.thecerbatgem.com/2017/08/17/rainier-investment-management-llc-reduces-stake-in-eagle-materials-inc-exp.html.
EXP has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Eagle Materials from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a research report on Thursday, June 1st. Citigroup Inc. upgraded shares of Eagle Materials from a “neutral” rating to a “buy” rating and cut their target price for the stock from $115.00 to $110.00 in a research report on Monday, July 31st. Finally, Standpoint Research upgraded shares of Eagle Materials from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Two research analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. Eagle Materials presently has an average rating of “Hold” and a consensus price target of $104.67.
In other Eagle Materials news, insider Gerald J. Essl sold 2,000 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $93.40, for a total transaction of $186,800.00. Following the transaction, the insider now owns 39,859 shares in the company, valued at $3,722,830.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP James H. Graass sold 10,000 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $101.00, for a total value of $1,010,000.00. Following the transaction, the executive vice president now owns 69,653 shares in the company, valued at approximately $7,034,953. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,317 shares of company stock worth $2,255,732. Corporate insiders own 4.10% of the company’s stock.
About Eagle Materials
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.
Want to see what other hedge funds are holding EXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eagle Materials Inc (NYSE:EXP).
Receive News & Stock Ratings for Eagle Materials Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Materials Inc and related stocks with our FREE daily email newsletter.