Eagle Materials Inc (EXP) Position Boosted by Marshall Wace North America L.P.
Marshall Wace North America L.P. raised its stake in shares of Eagle Materials Inc (NYSE:EXP) by 316.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 359,705 shares of the construction company’s stock after buying an additional 273,405 shares during the period. Marshall Wace North America L.P. owned about 0.74% of Eagle Materials worth $33,093,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its position in shares of Eagle Materials by 184.2% in the second quarter. BNP Paribas Arbitrage SA now owns 30,313 shares of the construction company’s stock valued at $2,802,000 after buying an additional 19,647 shares in the last quarter. BARING ASSET MANAGEMENT Ltd acquired a new position in shares of Eagle Materials during the second quarter valued at $9,640,000. Comerica Bank raised its position in shares of Eagle Materials by 3.7% in the second quarter. Comerica Bank now owns 92,205 shares of the construction company’s stock valued at $8,474,000 after buying an additional 3,255 shares in the last quarter. Legal & General Group Plc raised its position in shares of Eagle Materials by 19.5% in the second quarter. Legal & General Group Plc now owns 51,254 shares of the construction company’s stock valued at $4,738,000 after buying an additional 8,355 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Eagle Materials by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 1,204,266 shares of the construction company’s stock valued at $111,297,000 after buying an additional 52,762 shares in the last quarter. Hedge funds and other institutional investors own 93.07% of the company’s stock.
Eagle Materials Inc (NYSE EXP) opened at 88.25 on Monday. Eagle Materials Inc has a 52 week low of $73.27 and a 52 week high of $110.64. The company has a 50 day moving average price of $92.04 and a 200 day moving average price of $96.93. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 20.52 and a beta of 1.23.
Eagle Materials (NYSE:EXP) last issued its quarterly earnings data on Thursday, July 27th. The construction company reported $1.17 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.17. Eagle Materials had a net margin of 16.23% and a return on equity of 18.29%. The business had revenue of $366.10 million during the quarter, compared to analysts’ expectations of $369.68 million. During the same period last year, the company posted $0.93 EPS. The company’s revenue was up 23.1% on a year-over-year basis. Analysts expect that Eagle Materials Inc will post $5.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 7th. Stockholders of record on Friday, October 6th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, October 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.45%. Eagle Materials’s dividend payout ratio (DPR) is 9.30%.
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Several equities analysts recently weighed in on the company. BidaskClub upgraded Eagle Materials from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 5th. Zacks Investment Research lowered Eagle Materials from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Standpoint Research upgraded Eagle Materials from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Citigroup Inc. upgraded Eagle Materials from a “neutral” rating to a “buy” rating and cut their price target for the company from $115.00 to $110.00 in a research note on Monday, July 31st. Finally, Stephens upgraded Eagle Materials from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 30th. Two analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. Eagle Materials currently has a consensus rating of “Hold” and a consensus target price of $104.67.
In other news, CEO David B. Powers sold 11,317 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $93.57, for a total transaction of $1,058,931.69. Following the completion of the transaction, the chief executive officer now directly owns 106,580 shares of the company’s stock, valued at approximately $9,972,690.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gerald J. Essl sold 2,000 shares of the firm’s 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 directly owns 39,859 shares of the company’s stock, valued at $3,722,830.60. The disclosure for this sale can be found here. Company 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.
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