Federated Investors Inc. PA Has $38.39 Million Stake in Eagle Materials Inc (EXP)
Federated Investors Inc. PA lowered its stake in Eagle Materials Inc (NYSE:EXP) by 6.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 415,350 shares of the construction company’s stock after selling 27,763 shares during the period. Federated Investors Inc. PA owned 0.86% of Eagle Materials worth $38,387,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of EXP. IFP Advisors Inc increased 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 during the last quarter. Global X Management Co. LLC increased 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 during the last quarter. Coldstream Capital Management Inc. increased 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 during the last quarter. Oakbrook Investments LLC increased 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 during the last quarter. Finally, M&T Bank Corp increased 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 during 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. The company has a 50-day moving average of $91.68 and a 200 day moving average of $96.53. The company has a market cap of $4.30 billion, a P/E ratio of 20.61 and a beta of 1.23. Eagle Materials Inc has a 52 week low of $73.27 and a 52 week high of $110.64.
Eagle Materials (NYSE:EXP) last posted its earnings results on Thursday, July 27th. The construction company reported $1.17 earnings per share for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $369.68 million. During the same period last year, the firm posted $0.93 earnings per share. Eagle Materials’s revenue for the quarter was up 23.1% compared to the same quarter last year. On average, equities analysts forecast that Eagle Materials Inc will post $5.38 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 7th. Investors of record on Friday, October 6th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Thursday, October 5th. Eagle Materials’s dividend payout ratio (DPR) is presently 9.30%.
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EXP has been the subject of several research reports. Zacks Investment Research raised shares of Eagle Materials from a “hold” rating to a “buy” rating and set a $113.00 price objective for the company in a research note on Thursday, May 11th. Stephens raised shares of Eagle Materials from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 30th. Two investment analysts have rated the stock with a sell rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $104.67.
In related news, CEO David B. Powers sold 11,317 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $93.57, for a total value 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 $9,972,690.60. The transaction was disclosed in a legal 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 on Friday, August 4th. The shares were sold at an average price of $93.40, for a total transaction of $186,800.00. Following the completion of 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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