AMI Investment Management Inc. trimmed its stake in Eagle Materials, Inc. (NYSE:EXP) by 5.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,175 shares of the construction company’s stock after selling 1,450 shares during the period. AMI Investment Management Inc.’s holdings in Eagle Materials were worth $2,433,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of EXP. Point72 Asset Management L.P. increased its position in shares of Eagle Materials by 663.6% in the first quarter. Point72 Asset Management L.P. now owns 549,791 shares of the construction company’s stock worth $56,656,000 after purchasing an additional 477,791 shares during the last quarter. Bank of New York Mellon Corp grew its position in Eagle Materials by 12.1% during the second quarter. Bank of New York Mellon Corp now owns 2,532,411 shares of the construction company’s stock valued at $265,826,000 after acquiring an additional 273,645 shares during the last quarter. Royal Bank of Canada grew its position in Eagle Materials by 130.2% during the first quarter. Royal Bank of Canada now owns 285,555 shares of the construction company’s stock valued at $29,427,000 after acquiring an additional 161,522 shares during the last quarter. Bamco Inc. NY bought a new position in Eagle Materials during the first quarter valued at approximately $13,350,000. Finally, Assenagon Asset Management S.A. bought a new position in Eagle Materials during the second quarter valued at approximately $13,528,000. Institutional investors own 95.12% of the company’s stock.
Shares of Eagle Materials stock opened at $94.39 on Friday. The company has a current ratio of 2.61, a quick ratio of 1.34 and a debt-to-equity ratio of 0.45. Eagle Materials, Inc. has a 52-week low of $86.51 and a 52-week high of $122.49. The company has a market capitalization of $4.65 billion, a PE ratio of 22.37, a PEG ratio of 1.04 and a beta of 1.14.
Eagle Materials (NYSE:EXP) last issued its earnings results on Monday, July 30th. The construction company reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.02). Eagle Materials had a return on equity of 18.77% and a net margin of 18.96%. The firm had revenue of $393.80 million during the quarter, compared to the consensus estimate of $402.34 million. During the same quarter in the prior year, the business posted $1.17 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. analysts predict that Eagle Materials, Inc. will post 6.15 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Friday, October 5th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Thursday, October 4th. Eagle Materials’s dividend payout ratio is 9.48%.
In other news, CFO Dale Craig Kesler sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 31st. The shares were sold at an average price of $108.70, for a total value of $1,087,000.00. Following the transaction, the chief financial officer now owns 69,373 shares in the company, valued at $7,540,845.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James H. Graass sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $115.00, for a total transaction of $575,000.00. Following the completion of the transaction, the executive vice president now owns 60,253 shares in the company, valued at approximately $6,929,095. The disclosure for this sale can be found here. Insiders sold 20,000 shares of company stock worth $2,224,500 in the last 90 days. Company insiders own 1.70% of the company’s stock.
A number of brokerages have commented on EXP. Zacks Investment Research cut shares of Eagle Materials from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Northcoast Research upgraded shares of Eagle Materials from a “neutral” rating to a “buy” rating and increased their price target for the company from $86.51 to $122.49 in a research report on Wednesday, June 13th. Jefferies Financial Group reiterated a “buy” rating and set a $126.00 price target on shares of Eagle Materials in a research report on Tuesday, July 31st. Stephens reiterated a “buy” rating and set a $124.00 price target on shares of Eagle Materials in a research report on Thursday, August 9th. Finally, Citigroup reduced their price target on shares of Eagle Materials from $132.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $125.67.
About Eagle Materials
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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