Columbia Partners L L C Investment Management bought a new position in shares of Eagle Materials Inc (NYSE:EXP) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 18,007 shares of the construction company’s stock, valued at approximately $1,664,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EXP. IFP Advisors Inc boosted its stake in shares of Eagle Materials by 8.3% during the 2nd 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. boosted its stake in shares of Eagle Materials by 116.7% during the 2nd 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 boosted its stake in shares of Eagle Materials by 220.0% during the 2nd 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. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Eagle Materials by 8.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,868 shares of the construction company’s stock worth $173,000 after acquiring an additional 146 shares in the last quarter. Finally, Timber Hill LLC boosted its stake in shares of Eagle Materials by 70.4% during the 2nd quarter. Timber Hill LLC now owns 2,183 shares of the construction company’s stock worth $202,000 after acquiring an additional 902 shares in the last quarter. Institutional investors own 90.94% of the company’s stock.
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EXP has been the topic of several research analyst reports. Zacks Investment Research lowered Eagle Materials from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Standpoint Research raised Eagle Materials from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Stephens raised Eagle Materials from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 30th. Finally, BidaskClub raised Eagle Materials from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 5th. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $107.00.
In related news, EVP Robert S. Stewart sold 6,534 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $101.27, for a total transaction of $661,698.18. Following the completion of the sale, the executive vice president now directly owns 66,037 shares in the company, valued at $6,687,566.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP William R. Devlin sold 16,469 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $96.51, for a total transaction of $1,589,423.19. Following the sale, the senior vice president now owns 51,973 shares of the company’s stock, valued at $5,015,914.23. The disclosure for this sale can be found here. Insiders have sold 69,774 shares of company stock worth $6,798,741 in the last quarter. Company insiders own 4.10% of the company’s stock.
Eagle Materials Inc (EXP) traded up 2.364% during midday trading on Wednesday, reaching $104.585. The company had a trading volume of 44,524 shares. The company has a market capitalization of $5.07 billion, a P/E ratio of 24.316 and a beta of 1.18. The company’s 50 day moving average is $94.50 and its 200-day moving average is $95.51. Eagle Materials Inc has a 52-week low of $73.77 and a 52-week high of $110.64.
Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Thursday, July 27th. The construction company reported $1.17 EPS for the quarter, meeting the Zacks’ 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 for the quarter, compared to analyst estimates of $369.68 million. During the same quarter last year, the business earned $0.93 earnings per share. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. Equities analysts expect that Eagle Materials Inc will post $5.38 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 7th. Investors of record on Friday, October 6th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.39%. Eagle Materials’s dividend payout ratio is presently 9.30%.
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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