Ameriprise Financial Inc. raised its stake in shares of Eagle Materials Inc. (NYSE:EXP) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,311 shares of the company’s stock after buying an additional 2,072 shares during the period. Ameriprise Financial Inc. owned about 0.27% of Eagle Materials worth $10,131,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the stock. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Eagle Materials during the second quarter valued at about $672,000. Royce & Associates LP purchased a new stake in Eagle Materials during the second quarter valued at approximately $2,700,000. Fuller & Thaler Asset Management Inc. boosted its stake in Eagle Materials by 1.3% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 708,980 shares of the company’s stock valued at $54,698,000 after buying an additional 8,866 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Eagle Materials by 66.6% in the second quarter. Neuberger Berman Group LLC now owns 1,571,505 shares of the company’s stock valued at $121,242,000 after buying an additional 627,950 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Eagle Materials by 181.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,739 shares of the company’s stock valued at $212,000 after buying an additional 1,765 shares during the last quarter. Institutional investors and hedge funds own 91.67% of the company’s stock.
Eagle Materials Inc. (NYSE:EXP) traded down 1.30% during midday trading on Friday, reaching $77.30. The company had a trading volume of 736,029 shares. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 23.95 and a beta of 1.53. Eagle Materials Inc. has a 12-month low of $45.03 and a 12-month high of $87.57. The stock’s 50 day moving average is $79.31 and its 200 day moving average is $77.05.
Eagle Materials (NYSE:EXP) last announced its quarterly earnings data on Monday, July 25th. The company reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.07. Eagle Materials had a return on equity of 17.68% and a net margin of 13.85%. The firm earned $297 million during the quarter, compared to analysts’ expectations of $295.49 million. During the same quarter last year, the firm posted $0.75 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities research analysts expect that Eagle Materials Inc. will post $4.35 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, October 7th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.52%. Eagle Materials’s dividend payout ratio (DPR) is presently 12.35%.
EXP has been the topic of several research reports. Zacks Investment Research cut Eagle Materials from a “buy” rating to a “hold” rating in a research note on Wednesday, September 14th. Standpoint Research cut Eagle Materials from a “buy” rating to a “hold” rating in a research note on Friday, July 22nd. CL King cut Eagle Materials from a “strong-buy” rating to a “neutral” rating in a research note on Tuesday, July 26th. Finally, DA Davidson set a $100.00 target price on Eagle Materials and gave the company a “buy” rating in a research note on Tuesday, September 13th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $84.13.
In other Eagle Materials news, EVP Robert S. Stewart sold 12,098 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $85.08, for a total value of $1,029,297.84. Following the completion of the sale, the executive vice president now owns 66,779 shares of the company’s stock, valued at $5,681,557.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director F William Barnett sold 16,221 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $85.77, for a total value of $1,391,275.17. Following the completion of the sale, the director now directly owns 7,519 shares of the company’s stock, valued at approximately $644,904.63. The disclosure for this sale can be found here. 5.50% of the stock is owned by company insiders.
About Eagle Materials
Eagle Materials Inc is a supplier of construction products, building materials and materials used for oil and natural gas extraction. The Company operates through five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants. The Company’s construction products are used in residential, industrial, commercial and infrastructure construction, and include cement, slag, concrete and aggregates.
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