Eagle Materials Inc (EXP) Position Trimmed by Zacks Investment Management
Zacks Investment Management lowered its position in Eagle Materials Inc (NYSE:EXP) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 56,901 shares of the construction company’s stock after selling 1,365 shares during the period. Zacks Investment Management owned about 0.12% of Eagle Materials worth $5,259,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Voya Investment Management LLC boosted its holdings in Eagle Materials by 9.3% in the 2nd quarter. Voya Investment Management LLC now owns 26,395 shares of the construction company’s stock worth $2,439,000 after buying an additional 2,251 shares during the period. OxFORD Asset Management LLP boosted its holdings in Eagle Materials by 1,453.2% in the 2nd quarter. OxFORD Asset Management LLP now owns 42,326 shares of the construction company’s stock worth $3,912,000 after buying an additional 39,601 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Eagle Materials by 2.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 442,837 shares of the construction company’s stock worth $40,925,000 after buying an additional 9,922 shares during the period. Renaissance Technologies LLC boosted its holdings in Eagle Materials by 928.1% in the 2nd quarter. Renaissance Technologies LLC now owns 464,700 shares of the construction company’s stock worth $42,948,000 after buying an additional 419,500 shares during the period. Finally, Ramsey Quantitative Systems bought a new position in Eagle Materials in the 2nd quarter worth $300,000. 90.94% of the stock is owned by institutional investors.
Several research analysts recently weighed in on EXP shares. Zacks Investment Research downgraded shares of Eagle Materials from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Standpoint Research raised shares of Eagle Materials from a “hold” rating to a “buy” rating in a report on Monday, July 31st. BidaskClub raised shares of Eagle Materials from a “strong sell” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Citigroup Inc. raised shares of Eagle Materials from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $115.00 to $110.00 in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Eagle Materials presently has a consensus rating of “Buy” and an average target price of $107.00.
Eagle Materials Inc (EXP) traded up 0.93% on Thursday, hitting $107.99. 93,244 shares of the company’s stock traded hands. The stock has a market cap of $5.24 billion, a PE ratio of 25.11 and a beta of 1.18. The stock has a 50-day moving average of $94.50 and a 200-day moving average of $95.51. Eagle Materials Inc has a one year low of $73.83 and a one year high of $110.64.
Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Thursday, July 27th. The construction company reported $1.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.17. The firm had revenue of $366.10 million for the quarter, compared to analyst estimates of $369.68 million. Eagle Materials had a net margin of 16.23% and a return on equity of 18.29%. Eagle Materials’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 earnings per share. On average, equities analysts forecast that Eagle Materials Inc will post $5.39 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 7th. Investors of record on Friday, October 6th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.38%. Eagle Materials’s payout ratio is presently 9.30%.
In related news, SVP William R. Devlin sold 16,469 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $96.51, for a total transaction of $1,589,423.19. Following the transaction, the senior vice president now directly owns 51,973 shares in the company, valued at $5,015,914.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert S. Stewart sold 6,534 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $101.27, for a total transaction of $661,698.18. Following the transaction, the executive vice president now owns 66,037 shares in the company, valued at $6,687,566.99. The disclosure for this sale can be found here. Insiders have sold 69,774 shares of company stock worth $6,798,741 over the last 90 days. 4.10% of the stock is currently owned by company insiders.
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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