Greenwood Capital Associates LLC boosted its stake in Eagle Materials, Inc. (NYSE:EXP) by 4.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,959 shares of the construction company’s stock after purchasing an additional 711 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Eagle Materials were worth $1,572,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of EXP. Penserra Capital Management LLC bought a new stake in Eagle Materials during the first quarter valued at $31,000. NN Investment Partners Holdings N.V. bought a new stake in shares of Eagle Materials during the 2nd quarter valued at about $174,000. Coldstream Capital Management Inc. bought a new stake in shares of Eagle Materials during the 1st quarter valued at about $207,000. Dupont Capital Management Corp purchased a new position in shares of Eagle Materials during the first quarter worth about $228,000. Finally, GAM Holding AG purchased a new position in shares of Eagle Materials during the second quarter worth about $236,000. Institutional investors and hedge funds own 97.87% of the company’s stock.
Shares of NYSE EXP traded up $0.61 during trading hours on Wednesday, reaching $87.81. 725 shares of the stock traded hands, compared to its average volume of 424,776. The company’s 50-day simple moving average is $83.93 and its two-hundred day simple moving average is $84.82. The company has a market capitalization of $3.56 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 1.62 and a beta of 1.23. Eagle Materials, Inc. has a 52-week low of $57.00 and a 52-week high of $93.18. The company has a quick ratio of 1.05, a current ratio of 2.42 and a debt-to-equity ratio of 0.85.
Eagle Materials (NYSE:EXP) last issued its earnings results on Tuesday, July 30th. The construction company reported $1.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by ($0.27). Eagle Materials had a return on equity of 17.21% and a net margin of 3.20%. The firm had revenue of $370.60 million during the quarter, compared to analysts’ expectations of $376.95 million. During the same period in the prior year, the company earned $1.38 EPS. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Eagle Materials, Inc. will post 5.23 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.46%. Eagle Materials’s payout ratio is 7.92%.
In related news, Director Ed H. Bowman, Jr. sold 2,492 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $84.52, for a total transaction of $210,623.84. Following the transaction, the director now owns 16,386 shares of the company’s stock, valued at approximately $1,384,944.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David B. Powers sold 20,000 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $85.00, for a total transaction of $1,700,000.00. Following the transaction, the director now directly owns 86,840 shares in the company, valued at approximately $7,381,400. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,452 shares of company stock valued at $3,704,207. Company insiders own 2.20% of the company’s stock.
EXP has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Eagle Materials from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. cut their price target on shares of Eagle Materials from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Raymond James lowered shares of Eagle Materials from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 31st. Jefferies Financial Group cut shares of Eagle Materials from a “buy” rating to a “hold” rating and lowered their price objective for the company from $106.00 to $92.00 in a research report on Thursday, July 18th. Finally, Northcoast Research cut shares of Eagle Materials from a “neutral” rating to a “sell” rating and set a $76.00 price objective on the stock. in a research report on Monday, July 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. Eagle Materials currently has an average rating of “Hold” and an average price target of $93.88.
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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