BlueMountain Capital Management LLC bought a new position in shares of Eagle Materials, Inc. (NYSE:EXP) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 57,381 shares of the construction company’s stock, valued at approximately $6,023,000. BlueMountain Capital Management LLC owned approximately 0.12% of Eagle Materials at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of EXP. BlackRock Inc. lifted its holdings in shares of Eagle Materials by 0.8% in the first quarter. BlackRock Inc. now owns 4,281,730 shares of the construction company’s stock valued at $441,231,000 after purchasing an additional 34,045 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Eagle Materials by 12.1% in 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 purchasing an additional 273,645 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of Eagle Materials by 6.4% in the first quarter. Westwood Holdings Group Inc. now owns 727,430 shares of the construction company’s stock valued at $74,961,000 after purchasing an additional 43,889 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Eagle Materials by 4.5% in the second quarter. Wells Fargo & Company MN now owns 722,005 shares of the construction company’s stock valued at $75,790,000 after purchasing an additional 31,286 shares in the last quarter. Finally, Hermes Investment Management Ltd. lifted its holdings in shares of Eagle Materials by 9.9% in the second quarter. Hermes Investment Management Ltd. now owns 692,314 shares of the construction company’s stock valued at $72,672,000 after purchasing an additional 62,329 shares in the last quarter. Hedge funds and other institutional investors own 93.57% of the company’s stock.
A number of analysts recently issued reports on the company. Zacks Investment Research raised Eagle Materials from a “sell” rating to a “hold” rating in a research report on Friday, May 11th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $126.00 target price on shares of Eagle Materials in a research report on Tuesday, July 31st. Citigroup lowered their target price on Eagle Materials from $132.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, July 31st. Northcoast Research set a $128.00 target price on Eagle Materials and gave the company a “buy” rating in a research report on Tuesday, July 31st. Finally, ValuEngine downgraded Eagle Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, August 29th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $125.67.
Shares of NYSE EXP opened at $90.95 on Thursday. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 21.55, a price-to-earnings-growth ratio of 0.98 and a beta of 1.09. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.34 and a current ratio of 2.61. Eagle Materials, Inc. has a twelve month low of $90.34 and a twelve month high of $122.49.
Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Monday, July 30th. The construction company reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.02). The business had revenue of $393.80 million for the quarter, compared to analyst estimates of $402.34 million. Eagle Materials had a return on equity of 18.77% and a net margin of 18.96%. Eagle Materials’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm earned $1.17 EPS. analysts anticipate that Eagle Materials, Inc. will post 6.15 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 5th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Thursday, October 4th. Eagle Materials’s dividend payout ratio (DPR) is presently 9.48%.
In other Eagle Materials news, EVP James H. Graass sold 5,000 shares of the business’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 transaction, the executive vice president now owns 60,253 shares of the company’s stock, valued at $6,929,095. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.70% of the stock is owned by insiders.
Eagle Materials 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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