Prudential Financial Inc. raised its position in shares of Eagle Materials Inc. (NYSE:EXP) by 394.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 310,817 shares of the company’s stock after buying an additional 247,946 shares during the period. Prudential Financial Inc. owned 0.64% of Eagle Materials worth $23,979,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Eagle Materials during the fourth quarter worth approximately $18,508,000. Aperio Group LLC raised its position in Eagle Materials by 35.6% in the first quarter. Aperio Group LLC now owns 6,036 shares of the company’s stock worth $423,000 after buying an additional 1,584 shares during the last quarter. Nisa Investment Advisors L.L.C. raised its position in Eagle Materials by 5.0% in the first quarter. Nisa Investment Advisors L.L.C. now owns 21,100 shares of the company’s stock worth $1,479,000 after buying an additional 1,000 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Eagle Materials by 36.6% in the first quarter. TIAA CREF Investment Management LLC now owns 137,815 shares of the company’s stock worth $9,662,000 after buying an additional 36,915 shares during the last quarter. Finally, BlackRock Group LTD raised its position in Eagle Materials by 21.6% in the first quarter. BlackRock Group LTD now owns 35,848 shares of the company’s stock worth $2,513,000 after buying an additional 6,357 shares during the last quarter. 91.67% of the stock is currently owned by institutional investors.
Eagle Materials Inc. (NYSE:EXP) opened at 76.49 on Friday. The firm’s 50-day moving average price is $79.88 and its 200 day moving average price is $76.53. Eagle Materials Inc. has a 1-year low of $45.03 and a 1-year high of $87.57. The stock has a market cap of $3.69 billion, a PE ratio of 23.70 and a beta of 1.53.
Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Monday, July 25th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.07. The company had revenue of $297 million for the quarter, compared to analyst estimates of $295.49 million. Eagle Materials had a return on equity of 17.68% and a net margin of 13.85%. The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 earnings per share. Equities research analysts expect that Eagle Materials Inc. will post $4.36 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, October 7th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Wednesday, October 5th. Eagle Materials’s dividend payout ratio is currently 12.35%.
A number of research firms recently issued reports on EXP. Zacks Investment Research lowered Eagle Materials from a “buy” rating to a “hold” rating in a report on Wednesday, September 14th. DA Davidson set a $100.00 target price on Eagle Materials and gave the stock a “buy” rating in a report on Tuesday, September 13th. CL King lowered Eagle Materials from a “strong-buy” rating to a “neutral” rating in a report on Tuesday, July 26th. Finally, Standpoint Research lowered Eagle Materials from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $84.13.
In other news, Director F William Barnett sold 16,221 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $85.77, for a total transaction of $1,391,275.17. Following the transaction, the director now owns 7,519 shares of the company’s stock, valued at $644,904.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Ross Stewart sold 10,888 shares of the company’s stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $72.84, for a total value of $793,081.92. Following the transaction, the director now directly owns 5,874 shares in the company, valued at approximately $427,862.16. The disclosure for this sale can be found here. Insiders own 5.50% of the company’s stock.
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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