Eagle Materials Inc (EXP) Shares Sold by State Treasurer State of Michigan
State Treasurer State of Michigan lessened its stake in shares of Eagle Materials Inc (NYSE:EXP) by 9.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,200 shares of the construction company’s stock after selling 1,800 shares during the quarter. State Treasurer State of Michigan’s holdings in Eagle Materials were worth $1,942,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in shares of Eagle Materials by 474.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,149 shares of the construction company’s stock worth $106,000 after purchasing an additional 949 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Eagle Materials by 8.3% during the 2nd quarter. IFP Advisors Inc now owns 1,183 shares of the construction company’s stock worth $109,000 after purchasing an additional 91 shares in the last quarter. Pacad Investment Ltd. boosted its position in shares of Eagle Materials by 116.7% during the 2nd quarter. Pacad Investment Ltd. now owns 1,300 shares of the construction company’s stock worth $120,000 after purchasing an additional 700 shares in the last quarter. Global X Management Co. LLC boosted its position in shares of Eagle Materials by 220.0% during the 2nd quarter. Global X Management Co. LLC now owns 1,536 shares of the construction company’s stock worth $142,000 after purchasing an additional 1,056 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Eagle Materials by 8.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,868 shares of the construction company’s stock worth $173,000 after purchasing an additional 146 shares in the last quarter. 90.59% of the stock is currently owned by institutional investors.
Shares of Eagle Materials Inc (NYSE EXP) opened at $103.96 on Friday. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 2.57 and a beta of 1.28. The company has a current ratio of 2.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.44.
Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Wednesday, October 25th. The construction company reported $1.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.22). The firm had revenue of $376.30 million during the quarter, compared to analysts’ expectations of $412.84 million. Eagle Materials had a net margin of 15.93% and a return on equity of 17.75%. The company’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the business posted $1.25 EPS. equities research analysts forecast that Eagle Materials Inc will post 5.06 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, December 22nd will be paid a $0.10 dividend. The ex-dividend date is Thursday, December 21st. This represents a $0.40 annualized dividend and a yield of 0.38%. Eagle Materials’s dividend payout ratio (DPR) is 9.17%.
In other news, SVP William R. Devlin sold 16,469 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $96.51, for a total transaction of $1,589,423.19. Following the completion of the sale, the senior vice president now owns 51,973 shares in the company, valued at approximately $5,015,914.23. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David B. Powers sold 11,317 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $93.57, for a total transaction of $1,058,931.69. Following the sale, the chief executive officer now owns 106,580 shares of the company’s stock, valued at approximately $9,972,690.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,316 shares of company stock valued at $9,119,122. Company insiders own 4.10% of the company’s stock.
EXP has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Eagle Materials from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 24th. Standpoint Research lowered shares of Eagle Materials from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. They noted that the move was a valuation call. BidaskClub upgraded shares of Eagle Materials from a “strong sell” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Citigroup Inc upgraded shares of Eagle Materials from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $115.00 to $110.00 in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $110.00.
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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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