Chartwell Investment Partners LLC cut its holdings in shares of Eagle Materials, Inc. (NYSE:EXP) by 21.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 109,690 shares of the construction company’s stock after selling 29,545 shares during the quarter. Chartwell Investment Partners LLC owned about 0.26% of Eagle Materials worth $10,168,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. FMR LLC grew its holdings in Eagle Materials by 69.9% in the 1st quarter. FMR LLC now owns 3,445,277 shares of the construction company’s stock valued at $290,437,000 after buying an additional 1,418,021 shares in the last quarter. Long Pond Capital LP acquired a new position in Eagle Materials in the 1st quarter valued at $45,517,000. Scout Investments Inc. grew its holdings in Eagle Materials by 356.4% in the 2nd quarter. Scout Investments Inc. now owns 452,290 shares of the construction company’s stock valued at $41,927,000 after buying an additional 353,180 shares in the last quarter. Carillon Tower Advisers Inc. grew its holdings in Eagle Materials by 363.2% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 309,525 shares of the construction company’s stock valued at $28,693,000 after buying an additional 242,700 shares in the last quarter. Finally, Monarch Partners Asset Management LLC acquired a new position in Eagle Materials in the 2nd quarter valued at $13,588,000. 97.87% of the stock is currently owned by institutional investors and hedge funds.
In other Eagle Materials news, insider Keith W. Metcalf sold 10,980 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $81.33, for a total transaction of $893,003.40. Following the transaction, the insider now owns 58,087 shares in the company, valued at approximately $4,724,215.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Keith W. Metcalf sold 3,836 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $92.00, for a total value of $352,912.00. Following the completion of the sale, the insider now owns 39,610 shares in the company, valued at approximately $3,644,120. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,630 shares of company stock worth $5,077,899. 2.20% of the stock is owned by company insiders.
A number of research firms have recently weighed in on EXP. Zacks Investment Research downgraded Eagle Materials from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. Northcoast Research upgraded Eagle Materials from a “sell” rating to a “neutral” rating in a research report on Friday, September 20th. Raymond James downgraded Eagle Materials from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price objective on Eagle Materials from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Finally, SunTrust Banks set a $95.00 target price on Eagle Materials and gave the company a “buy” rating in a research report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $93.88.
NYSE:EXP traded down $0.06 during trading hours on Tuesday, reaching $89.11. The stock had a trading volume of 78,087 shares, compared to its average volume of 426,527. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.05 and a current ratio of 2.42. The stock has a 50 day simple moving average of $86.19 and a 200 day simple moving average of $86.41. Eagle Materials, Inc. has a 12-month low of $57.00 and a 12-month high of $93.18. The stock has a market cap of $3.74 billion, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 1.71 and a beta of 1.25.
Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $1.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by ($0.27). Eagle Materials had a net margin of 3.20% and a return on equity of 17.21%. The company had revenue of $370.60 million during the quarter, compared to analysts’ expectations of $376.95 million. During the same quarter last year, the firm posted $1.38 earnings per share. Eagle Materials’s revenue for the quarter was down 5.9% compared to the same quarter last year. On average, equities analysts expect that Eagle Materials, Inc. will post 5.22 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Thursday, October 3rd. Eagle Materials’s dividend payout ratio (DPR) is presently 7.92%.
Eagle Materials Company Profile
Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials, light building materials, and materials used for oil and natural gas extraction in the United States. It operates in five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants.
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