Advisors Asset Management Inc. cut its position in shares of Eagle Materials Inc. (NYSE:EXP) by 36.8% during the second quarter, Holdings Channel reports. The fund owned 5,243 shares of the company’s stock after selling 3,054 shares during the period. Advisors Asset Management Inc.’s holdings in Eagle Materials were worth $404,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. M&T Bank Corp bought a new position in shares of Eagle Materials during the second quarter worth $201,000. PNC Financial Services Group Inc. increased its position in shares of Eagle Materials by 181.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,739 shares of the company’s stock valued at $212,000 after buying an additional 1,765 shares in the last quarter. LS Investment Advisors LLC increased its position in shares of Eagle Materials by 70.3% in the second quarter. LS Investment Advisors LLC now owns 2,935 shares of the company’s stock valued at $226,000 after buying an additional 1,212 shares in the last quarter. Commonwealth Equity Services Inc acquired a new position in shares of Eagle Materials during the second quarter valued at approximately $228,000. Finally, Bank of Montreal Can acquired a new position in shares of Eagle Materials during the second quarter valued at approximately $238,000. 91.67% of the stock is currently owned by institutional investors and hedge funds.
Shares of Eagle Materials Inc. (NYSE:EXP) traded down 0.93% during mid-day trading on Friday, reaching $77.59. The company had a trading volume of 435,717 shares. The stock has a market capitalization of $3.74 billion, a P/E ratio of 24.04 and a beta of 1.53. Eagle Materials Inc. has a 12-month low of $45.03 and a 12-month high of $87.57. The firm’s 50 day moving average is $79.44 and its 200-day moving average is $76.95.
Eagle Materials (NYSE:EXP) last issued its earnings results on Monday, July 25th. The company reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.07. The firm had revenue of $297 million for the quarter, compared to the consensus estimate of $295.49 million. Eagle Materials had a return on equity of 17.68% and a net margin of 13.85%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 EPS. On average, analysts expect that Eagle Materials Inc. will post $4.35 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Wednesday, October 5th. Eagle Materials’s dividend payout ratio (DPR) is 12.35%.
Several research analysts have commented on the company. Zacks Investment Research raised Eagle Materials from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Wednesday, June 29th. Standpoint Research downgraded Eagle Materials from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. CL King downgraded Eagle Materials from a “strong-buy” rating to a “neutral” rating in a research report on Tuesday, July 26th. Finally, DA Davidson set a $100.00 price target on Eagle Materials and gave the stock a “buy” rating in a research report on Tuesday, September 13th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Eagle Materials presently has a consensus rating of “Buy” and a consensus target price of $84.13.
In related news, Director F William Barnett sold 16,221 shares of the firm’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 sale, the director now owns 7,519 shares of the company’s stock, valued at approximately $644,904.63. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert S. Stewart sold 12,098 shares of the firm’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $85.08, for a total value of $1,029,297.84. Following the sale, the executive vice president now directly owns 66,779 shares in the company, valued at approximately $5,681,557.32. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.
About Eagle Materials
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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