Pacer Advisors Inc. trimmed its holdings in Eagle Materials Inc. (NYSE:EXP – Free Report) by 97.1% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 6,300 shares of the construction company’s stock after selling 209,255 shares during the quarter. Pacer Advisors Inc.’s holdings in Eagle Materials were worth $1,174,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of EXP. Norges Bank bought a new stake in Eagle Materials in the 4th quarter worth about $60,428,000. Artemis Investment Management LLP bought a new stake in Eagle Materials in the 1st quarter worth about $63,979,000. Prudential Financial Inc. increased its holdings in Eagle Materials by 180.3% in the 1st quarter. Prudential Financial Inc. now owns 470,479 shares of the construction company’s stock worth $60,390,000 after buying an additional 302,625 shares in the last quarter. Frontier Capital Management Co. LLC boosted its position in Eagle Materials by 46.9% in the first quarter. Frontier Capital Management Co. LLC now owns 786,824 shares of the construction company’s stock worth $115,466,000 after purchasing an additional 251,320 shares during the last quarter. Finally, Alyeska Investment Group L.P. boosted its position in Eagle Materials by 3,532.8% in the first quarter. Alyeska Investment Group L.P. now owns 186,872 shares of the construction company’s stock worth $27,423,000 after purchasing an additional 181,728 shares during the last quarter. 92.57% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts have issued reports on EXP shares. Stephens reissued an “overweight” rating and issued a $230.00 target price on shares of Eagle Materials in a research report on Monday, August 21st. Citigroup raised their target price on Eagle Materials from $215.00 to $219.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. Stifel Nicolaus lifted their price objective on Eagle Materials from $195.00 to $205.00 in a research report on Friday, July 14th. Jefferies Financial Group lifted their price objective on Eagle Materials from $195.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, July 13th. Finally, StockNews.com cut Eagle Materials from a “buy” rating to a “hold” rating in a research report on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $199.80.
Eagle Materials Stock Up 2.3 %
NYSE EXP opened at $166.59 on Thursday. The stock’s 50 day moving average is $181.55 and its 200 day moving average is $167.29. The company has a current ratio of 2.68, a quick ratio of 1.36 and a debt-to-equity ratio of 0.92. Eagle Materials Inc. has a 12 month low of $103.41 and a 12 month high of $195.96. The stock has a market cap of $5.90 billion, a PE ratio of 12.71 and a beta of 1.34.
Eagle Materials (NYSE:EXP – Get Free Report) last posted its quarterly earnings results on Thursday, July 27th. The construction company reported $3.55 EPS for the quarter, topping analysts’ consensus estimates of $3.54 by $0.01. Eagle Materials had a return on equity of 40.68% and a net margin of 21.82%. The company had revenue of $601.50 million for the quarter, compared to analysts’ expectations of $603.11 million. During the same period in the previous year, the firm earned $2.82 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. Research analysts predict that Eagle Materials Inc. will post 13.9 EPS for the current fiscal year.
Eagle Materials Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Thursday, September 14th. Eagle Materials’s payout ratio is 7.63%.
Insiders Place Their Bets
In other Eagle Materials news, EVP Matt Newby sold 5,613 shares of Eagle Materials stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $190.00, for a total value of $1,066,470.00. Following the sale, the executive vice president now owns 21,819 shares of the company’s stock, valued at approximately $4,145,610. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Richard Ross Stewart sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $187.99, for a total transaction of $375,980.00. Following the transaction, the director now owns 7,041 shares of the company’s stock, valued at approximately $1,323,637.59. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Matt Newby sold 5,613 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $190.00, for a total value of $1,066,470.00. Following the transaction, the executive vice president now directly owns 21,819 shares in the company, valued at approximately $4,145,610. The disclosure for this sale can be found here. Insiders have sold a total of 8,613 shares of company stock valued at $1,624,730 in the last quarter. 1.70% of the stock is currently owned by insiders.
Eagle Materials Company Profile
Eagle Materials Inc, through its subsidiaries, manufactures and sells heavy construction materials and light building materials in the United States. It operates in four segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland cement; grinding and sale of slag; and mining of gypsum for the manufacture and sale of gypsum wallboards used to finish the interior walls and ceilings in residential, commercial, and industrial structures.
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