Eagle Materials Inc (EXP) Shares Sold by Bank of New York Mellon Corp
Bank of New York Mellon Corp lowered its holdings in Eagle Materials Inc (NYSE:EXP) by 13.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,046,176 shares of the construction company’s stock after selling 158,090 shares during the period. Bank of New York Mellon Corp owned approximately 2.15% of Eagle Materials worth $111,625,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in shares of Eagle Materials by 474.5% during the second quarter. Tower Research Capital LLC TRC now owns 1,149 shares of the construction company’s stock worth $106,000 after acquiring an additional 949 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Eagle Materials by 8.3% during the second quarter. IFP Advisors Inc now owns 1,183 shares of the construction company’s stock worth $109,000 after acquiring an additional 91 shares in the last quarter. Pacad Investment Ltd. raised its holdings in shares of Eagle Materials by 116.7% during the second quarter. Pacad Investment Ltd. now owns 1,300 shares of the construction company’s stock worth $120,000 after acquiring an additional 700 shares in the last quarter. Global X Management Co. LLC raised its holdings in shares of Eagle Materials by 220.0% during the second quarter. Global X Management Co. LLC now owns 1,536 shares of the construction company’s stock worth $142,000 after acquiring an additional 1,056 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Eagle Materials by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,868 shares of the construction company’s stock worth $173,000 after buying an additional 146 shares during the last quarter. Institutional investors own 89.64% of the company’s stock.
In other news, EVP James H. Graass sold 8,198 shares of Eagle Materials stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $107.55, for a total value of $881,694.90. Following the completion of the transaction, the executive vice president now owns 57,563 shares in the company, valued at $6,190,900.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William R. Devlin sold 16,469 shares of Eagle Materials stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now owns 51,973 shares of the company’s stock, valued at approximately $5,015,914.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,999 shares of company stock valued at $8,060,190. Corporate insiders own 4.10% of the company’s stock.
Shares of Eagle Materials Inc (NYSE EXP) traded down $0.16 on Friday, reaching $106.19. 339,000 shares of the company’s stock were exchanged, compared to its average volume of 572,180. The company has a market capitalization of $5,160.00, a PE ratio of 23.44, a price-to-earnings-growth ratio of 2.65 and a beta of 1.28. The company has a current ratio of 2.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.44. Eagle Materials Inc has a 1 year low of $86.51 and a 1 year high of $110.98.
Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.22). The business had revenue of $376.30 million for the quarter, compared to the consensus estimate of $412.84 million. Eagle Materials had a return on equity of 17.75% and a net margin of 15.93%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 EPS. analysts expect that Eagle Materials Inc will post 5.02 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, December 22nd will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Thursday, December 21st. Eagle Materials’s dividend payout ratio is 9.20%.
Several equities analysts have commented on EXP shares. Zacks Investment Research downgraded shares of Eagle Materials from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Standpoint Research raised Eagle Materials from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. BidaskClub raised Eagle Materials from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Citigroup Inc. raised Eagle Materials from a “neutral” rating to a “buy” rating and lowered their price target for the company from $115.00 to $110.00 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 has an average rating of “Hold” and an average price target of $110.00.
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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