Eagle Materials Inc (EXP) Shares Sold by Rhumbline Advisers
Rhumbline Advisers reduced its stake in shares of Eagle Materials Inc (NYSE:EXP) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,818 shares of the construction company’s stock after selling 1,385 shares during the period. Rhumbline Advisers owned about 0.21% of Eagle Materials worth $9,502,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of EXP. IFP Advisors Inc raised 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 valued at $106,000 after buying an additional 301 shares in the last quarter. Global X Management Co. LLC raised 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 valued at $142,000 after buying an additional 1,056 shares in the last quarter. Coldstream Capital Management Inc. raised 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 valued at $220,000 after buying an additional 55 shares in the last quarter. Oakbrook Investments LLC raised 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 valued at $222,000 after buying an additional 170 shares in the last quarter. Finally, M&T Bank Corp raised 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 valued at $228,000 after buying an additional 302 shares in the last quarter. Institutional investors and hedge funds own 93.07% of the company’s stock.
Eagle Materials Inc (NYSE:EXP) opened at 88.65 on Thursday. Eagle Materials Inc has a 12 month low of $73.27 and a 12 month high of $110.64. The company has a 50 day moving average price of $91.68 and a 200 day moving average price of $96.53. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 20.61 and a beta of 1.23.
Eagle Materials (NYSE:EXP) last released its quarterly earnings results on Thursday, July 27th. The construction company reported $1.17 earnings per share for the quarter, meeting the consensus estimate of $1.17. The firm had revenue of $366.10 million for the quarter, compared to analysts’ expectations of $369.68 million. Eagle Materials had a return on equity of 18.29% and a net margin of 16.23%. The company’s revenue was up 23.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.93 EPS. Analysts anticipate that Eagle Materials Inc will post $5.38 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 7th. Stockholders of record on Friday, October 6th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, October 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.45%. Eagle Materials’s payout ratio is 9.30%.
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Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Eagle Materials from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a research report on Tuesday, June 27th. BidaskClub lowered Eagle Materials from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Standpoint Research upgraded Eagle Materials from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Citigroup Inc. upgraded Eagle Materials from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $115.00 to $110.00 in a research report on Monday, July 31st. Finally, Stephens upgraded Eagle Materials from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, May 30th. Two investment analysts have rated the stock with a sell rating and five have given a buy rating to the stock. Eagle Materials currently has an average rating of “Hold” and a consensus price target of $104.67.
In other news, CEO David B. Powers sold 11,317 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $93.57, for a total transaction of $1,058,931.69. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gerald J. Essl sold 2,000 shares of the 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 directly owns 39,859 shares in the company, valued at $3,722,830.60. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.
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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