Eagle Materials, Inc. (EXP) Shares Sold by Hodges Capital Management Inc.
Hodges Capital Management Inc. lessened its holdings in Eagle Materials, Inc. (NYSE:EXP) by 4.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 378,383 shares of the construction company’s stock after selling 15,916 shares during the quarter. Eagle Materials comprises 3.2% of Hodges Capital Management Inc.’s portfolio, making the stock its 3rd largest position. Hodges Capital Management Inc.’s holdings in Eagle Materials were worth $31,898,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in EXP. Janus Henderson Group PLC grew its holdings in Eagle Materials by 76.8% in the third quarter. Janus Henderson Group PLC now owns 5,248 shares of the construction company’s stock worth $447,000 after purchasing an additional 2,280 shares during the period. Credit Suisse AG grew its holdings in Eagle Materials by 4.6% in the third quarter. Credit Suisse AG now owns 46,599 shares of the construction company’s stock worth $3,971,000 after purchasing an additional 2,033 shares during the period. Dimensional Fund Advisors LP grew its holdings in Eagle Materials by 12.7% in the third quarter. Dimensional Fund Advisors LP now owns 466,996 shares of the construction company’s stock worth $39,806,000 after purchasing an additional 52,527 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Eagle Materials during the third quarter valued at approximately $1,071,000. Finally, Allianz Asset Management GmbH grew its holdings in shares of Eagle Materials by 10.9% during the third quarter. Allianz Asset Management GmbH now owns 64,560 shares of the construction company’s stock valued at $5,503,000 after buying an additional 6,329 shares during the last quarter. Institutional investors and hedge funds own 95.68% of the company’s stock.
In related news, Director Ed H. Bowman, Jr. sold 2,591 shares of the firm’s stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $71.35, for a total value of $184,867.85. Following the sale, the director now owns 12,977 shares in the company, valued at $925,908.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.70% of the company’s stock.
Eagle Materials (NYSE:EXP) last issued its earnings results on Tuesday, January 29th. The construction company reported $1.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.06). Eagle Materials had a return on equity of 17.49% and a net margin of 16.77%. The company had revenue of $333.30 million during the quarter, compared to analysts’ expectations of $357.08 million. During the same quarter in the prior year, the business posted $2.08 EPS. The company’s revenue for the quarter was down 7.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Eagle Materials, Inc. will post 5.09 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.46%. The ex-dividend date is Thursday, April 11th. Eagle Materials’s dividend payout ratio is currently 9.48%.
A number of equities research analysts have recently commented on EXP shares. SunTrust Banks started coverage on shares of Eagle Materials in a report on Monday, March 25th. They set a “buy” rating on the stock. Macquarie set a $100.00 price target on shares of Eagle Materials and gave the company a “buy” rating in a report on Tuesday, April 2nd. Citigroup increased their price target on shares of Eagle Materials from $84.00 to $87.00 and gave the company a “buy” rating in a report on Monday, April 1st. DA Davidson increased their price target on shares of Eagle Materials to $90.00 and gave the company a “buy” rating in a report on Wednesday, January 2nd. Finally, Berenberg Bank started coverage on shares of Eagle Materials in a report on Wednesday, April 3rd. They set a “buy” rating and a $103.00 price target on the stock. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $103.14.
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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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