First Mercantile Trust Co. lowered its position in Eagle Materials Inc (NYSE:EXP) by 15.5% during the second quarter, Holdings Channel reports. The institutional investor owned 5,862 shares of the construction company’s stock after selling 1,073 shares during the period. First Mercantile Trust Co.’s holdings in Eagle Materials were worth $542,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Glen Harbor Capital Management LLC increased its stake in Eagle Materials by 294.6% in the first quarter. Glen Harbor Capital Management LLC now owns 9,344 shares of the construction company’s stock worth $908,000 after buying an additional 6,976 shares in the last quarter. Acadian Asset Management LLC increased its stake in Eagle Materials by 16.3% in the first quarter. Acadian Asset Management LLC now owns 4,537 shares of the construction company’s stock worth $441,000 after buying an additional 636 shares in the last quarter. Nationwide Fund Advisors increased its stake in Eagle Materials by 18.5% in the first quarter. Nationwide Fund Advisors now owns 204,880 shares of the construction company’s stock worth $19,902,000 after buying an additional 32,052 shares in the last quarter. Retirement Systems of Alabama increased its stake in Eagle Materials by 0.4% in the first quarter. Retirement Systems of Alabama now owns 62,498 shares of the construction company’s stock worth $6,071,000 after buying an additional 229 shares in the last quarter. Finally, Hermes Investment Management Ltd. increased its stake in Eagle Materials by 2.0% in the first quarter. Hermes Investment Management Ltd. now owns 599,791 shares of the construction company’s stock worth $58,264,000 after buying an additional 11,556 shares in the last quarter. 93.07% of the stock is owned by institutional investors.
Shares of Eagle Materials Inc (EXP) opened at 89.72 on Tuesday. The company has a market capitalization of $4.35 billion, a P/E ratio of 20.86 and a beta of 1.23. The firm has a 50-day moving average of $92.28 and a 200 day moving average of $97.26. Eagle Materials Inc has a 1-year low of $73.27 and a 1-year high of $110.64.
Eagle Materials (NYSE:EXP) last released its quarterly earnings data on Thursday, July 27th. The construction company reported $1.17 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.17. Eagle Materials had a net margin of 16.23% and a return on equity of 18.29%. The business had revenue of $366.10 million during the quarter, compared to analyst estimates of $369.68 million. During the same quarter last year, the business earned $0.93 earnings per share. Eagle Materials’s quarterly revenue was up 23.1% compared to the same quarter last year. On average, analysts anticipate that Eagle Materials Inc will post $5.38 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 7th. Shareholders of record on Friday, October 6th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, October 5th. This represents a $0.40 annualized dividend and a yield of 0.45%. Eagle Materials’s dividend payout ratio (DPR) is currently 9.30%.
A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Eagle Materials from a “buy” rating to a “hold” rating in a report on Friday, May 19th. Stephens raised shares of Eagle Materials from an “equal weight” rating to an “overweight” rating in a report on Tuesday, May 30th. Finally, BidaskClub raised shares of Eagle Materials from a “strong sell” rating to a “sell” rating in a report on Saturday, August 5th. Two research analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. Eagle Materials currently has a consensus rating of “Hold” and a consensus target price of $104.67.
In other Eagle Materials news, insider Gerald J. Essl sold 2,000 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $93.40, for a total transaction of $186,800.00. Following the completion of the transaction, the insider now owns 39,859 shares in the company, valued at $3,722,830.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David B. Powers sold 11,317 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $93.57, for a total transaction of $1,058,931.69. Following the transaction, the chief executive officer now owns 106,580 shares of the company’s stock, valued at approximately $9,972,690.60. The disclosure for this sale can be found here. Insiders have sold 23,317 shares of company stock valued at $2,255,732 in the last quarter. 4.10% of the stock is owned by company insiders.
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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