Parisi Gray Wealth Management purchased a new position in shares of Eagle Materials Inc. (NYSE:EXP) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 557 shares of the construction company’s stock, valued at approximately $79,000.
Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Eagle Materials by 2.1% during the second quarter. Vanguard Group Inc. now owns 4,058,108 shares of the construction company’s stock worth $576,698,000 after purchasing an additional 84,123 shares in the last quarter. FMR LLC increased its position in shares of Eagle Materials by 4.0% during the second quarter. FMR LLC now owns 3,412,274 shares of the construction company’s stock worth $484,918,000 after purchasing an additional 130,736 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of Eagle Materials by 18.4% during the first quarter. Neuberger Berman Group LLC now owns 1,790,859 shares of the construction company’s stock worth $240,667,000 after purchasing an additional 278,772 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Eagle Materials by 21.8% during the first quarter. Federated Hermes Inc. now owns 1,430,677 shares of the construction company’s stock valued at $192,298,000 after buying an additional 255,932 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Eagle Materials by 0.5% during the first quarter. Janus Henderson Group PLC now owns 649,211 shares of the construction company’s stock valued at $87,260,000 after buying an additional 3,451 shares during the last quarter. 94.65% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Dale Craig Kesler sold 11,711 shares of the stock in a transaction dated Friday, August 6th. The shares were sold at an average price of $145.75, for a total transaction of $1,706,878.25. Following the sale, the chief financial officer now directly owns 75,121 shares of the company’s stock, valued at approximately $10,948,885.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP William R. Devlin sold 6,537 shares of the stock in a transaction dated Tuesday, August 10th. The stock was sold at an average price of $150.00, for a total transaction of $980,550.00. Following the sale, the senior vice president now directly owns 31,122 shares in the company, valued at $4,668,300. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,952 shares of company stock worth $6,785,148. 1.50% of the stock is owned by corporate insiders.
Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Wednesday, July 28th. The construction company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.11 by $0.14. Eagle Materials had a net margin of 20.26% and a return on equity of 25.22%. The company had revenue of $475.77 million for the quarter, compared to analyst estimates of $464.36 million. As a group, equities research analysts predict that Eagle Materials Inc. will post 8.93 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Friday, September 17th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Thursday, September 16th. Eagle Materials’s payout ratio is 14.58%.
EXP has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Eagle Materials from a “buy” rating to a “hold” rating in a report on Thursday, September 30th. Berenberg Bank raised shares of Eagle Materials from a “hold” rating to a “buy” rating in a report on Monday, August 30th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Eagle Materials has a consensus rating of “Buy” and an average target price of $154.13.
Eagle Materials Profile
Eagle Materials, Inc is a holding company, which engages in the provision of heavy construction materials, light building materials, and materials used for oil and natural gas extraction. It operates through the following segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants.
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