Eagle Materials Inc (EXP) Shares Bought by Hodges Capital Management Inc.
Hodges Capital Management Inc. increased its position in shares of Eagle Materials Inc (NYSE:EXP) by 31.0% during the second quarter, Holdings Channel reports. The fund owned 412,598 shares of the construction company’s stock after buying an additional 97,571 shares during the period. Eagle Materials accounts for approximately 2.3% of Hodges Capital Management Inc.’s investment portfolio, making the stock its 6th largest position. Hodges Capital Management Inc.’s holdings in Eagle Materials were worth $38,132,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. IFP Advisors Inc increased its stake in Eagle Materials by 38.1% in the first quarter. IFP Advisors Inc now owns 1,092 shares of the construction company’s stock worth $106,000 after buying an additional 301 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in Eagle Materials by 2.5% in the first quarter. Coldstream Capital Management Inc. now owns 2,265 shares of the construction company’s stock worth $220,000 after buying an additional 55 shares during the last quarter. Oakbrook Investments LLC increased its stake in Eagle Materials by 7.6% in the second quarter. Oakbrook Investments LLC now owns 2,400 shares of the construction company’s stock worth $222,000 after buying an additional 170 shares during the last quarter. M&T Bank Corp increased its stake in Eagle Materials by 14.8% in the first quarter. M&T Bank Corp now owns 2,347 shares of the construction company’s stock worth $228,000 after buying an additional 302 shares during the last quarter. Finally, Suntrust Banks Inc. bought a new stake in Eagle Materials during the first quarter worth $235,000. Institutional investors and hedge funds own 92.68% of the company’s stock.
Shares of Eagle Materials Inc (NYSE:EXP) opened at 94.13 on Monday. The firm’s 50-day moving average is $92.79 and its 200-day moving average is $97.93. Eagle Materials Inc has a 12 month low of $73.27 and a 12 month high of $110.64. The company has a market cap of $4.57 billion, a PE ratio of 21.89 and a beta of 1.23.
Eagle Materials (NYSE:EXP) last released its quarterly earnings data on Thursday, July 27th. The construction company reported $1.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.17. Eagle Materials had a net margin of 16.23% and a return on equity of 18.29%. The firm had revenue of $366.10 million for the quarter, compared to analysts’ expectations of $369.68 million. During the same quarter in the previous year, the company earned $0.93 earnings per share. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. On average, equities research analysts predict that Eagle Materials Inc will post $5.38 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Shareholders of record on Wednesday, June 21st were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Monday, June 19th. Eagle Materials’s payout ratio is 9.30%.
A number of analysts recently weighed in on EXP shares. Zacks Investment Research upgraded Eagle Materials from a “hold” rating to a “buy” rating and set a $106.00 price objective for the company in a report on Thursday, June 1st. Citigroup Inc. upgraded Eagle Materials from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $115.00 to $110.00 in a report on Monday, July 31st. Finally, Standpoint Research upgraded Eagle Materials from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating and five have issued a buy rating to the company. Eagle Materials has an average rating of “Hold” and an average price target of $104.67.
In other Eagle Materials news, EVP James H. Graass sold 10,000 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $101.00, for a total value of $1,010,000.00. Following the transaction, the executive vice president now owns 69,653 shares in the company, valued at $7,034,953. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.10% of the stock is currently owned by 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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