Eagle Materials Inc (EXP) Shares Bought by Vanguard Group Inc.
Vanguard Group Inc. increased its holdings in Eagle Materials Inc (NYSE:EXP) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,784,382 shares of the construction company’s stock after acquiring an additional 41,784 shares during the period. Vanguard Group Inc. owned about 7.80% of Eagle Materials worth $349,753,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in EXP. BlackRock Inc. lifted its stake in Eagle Materials by 16,628.1% in the 1st quarter. BlackRock Inc. now owns 3,951,353 shares of the construction company’s stock worth $383,836,000 after acquiring an additional 3,927,732 shares in the last quarter. Marshall Wace North America L.P. lifted its stake in Eagle Materials by 316.8% in the 2nd quarter. Marshall Wace North America L.P. now owns 359,705 shares of the construction company’s stock worth $33,093,000 after acquiring an additional 273,405 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Eagle Materials by 11.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,357,834 shares of the construction company’s stock worth $217,913,000 after acquiring an additional 247,169 shares in the last quarter. Morgan Stanley lifted its stake in Eagle Materials by 139.3% in the 1st quarter. Morgan Stanley now owns 295,606 shares of the construction company’s stock worth $28,716,000 after acquiring an additional 172,087 shares in the last quarter. Finally, Westwood Holdings Group Inc. lifted its stake in Eagle Materials by 31.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 656,689 shares of the construction company’s stock worth $63,791,000 after acquiring an additional 158,738 shares in the last quarter. 91.02% of the stock is owned by hedge funds and other institutional investors.
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Eagle Materials Inc (EXP) opened at 107.76 on Friday. The firm has a 50-day moving average price of $100.11 and a 200 day moving average price of $96.21. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 25.05 and a beta of 1.17. Eagle Materials Inc has a 12 month low of $73.83 and a 12 month high of $110.64.
Eagle Materials (NYSE:EXP) last issued its quarterly earnings results on Thursday, July 27th. The construction company reported $1.17 EPS for the quarter, meeting analysts’ consensus estimates of $1.17. The company had revenue of $366.10 million for the quarter, compared to analyst estimates of $369.68 million. Eagle Materials had a return on equity of 18.29% and a net margin of 16.23%. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.93 earnings per share. On average, equities analysts forecast that Eagle Materials Inc will post $5.42 EPS for the current 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 $0.10 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.37%. Eagle Materials’s dividend payout ratio (DPR) is 9.30%.
EXP has been the subject of several research analyst reports. Zacks Investment Research downgraded Eagle Materials from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. BidaskClub lowered Eagle Materials from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Citigroup Inc. raised Eagle Materials from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $115.00 to $110.00 in a research report on Monday, July 31st. Finally, Standpoint Research raised Eagle Materials from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $110.00.
In other news, 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 value of $661,698.18. Following the sale, the executive vice president now directly owns 66,037 shares in the company, valued at $6,687,566.99. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Dale Craig Kesler sold 5,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $101.40, for a total value of $507,000.00. Following the completion of the sale, the chief financial officer now owns 61,778 shares in the company, valued at $6,264,289.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,774 shares of company stock worth $6,798,741. Corporate insiders own 4.10% of the company’s stock.
Eagle Materials 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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