Eagle Materials Inc (EXP) Stake Lowered by Odey Asset Management Group Ltd
Odey Asset Management Group Ltd reduced its stake in Eagle Materials Inc (NYSE:EXP) by 17.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,475 shares of the construction company’s stock after selling 725 shares during the quarter. Odey Asset Management Group Ltd’s holdings in Eagle Materials were worth $321,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of EXP. FMR LLC boosted its position in shares of Eagle Materials by 9.1% during the 2nd quarter. FMR LLC now owns 4,407,131 shares of the construction company’s stock worth $407,307,000 after purchasing an additional 367,661 shares during the period. BlackRock Inc. increased its holdings in Eagle Materials by 3.8% in the 2nd quarter. BlackRock Inc. now owns 4,101,930 shares of the construction company’s stock valued at $379,100,000 after purchasing an additional 150,577 shares during the last quarter. Vanguard Group Inc. increased its holdings in Eagle Materials by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,784,382 shares of the construction company’s stock valued at $349,753,000 after purchasing an additional 41,784 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Eagle Materials by 11.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,357,834 shares of the construction company’s stock valued at $217,913,000 after purchasing an additional 247,169 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Eagle Materials by 4.8% in the 2nd quarter. Wells Fargo & Company MN now owns 1,376,500 shares of the construction company’s stock valued at $127,216,000 after purchasing an additional 63,035 shares during the last quarter. Hedge funds and other institutional investors own 91.02% of the company’s stock.
In related news, insider Gerald J. Essl sold 2,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $93.40, for a total transaction of $186,800.00. Following the completion of the sale, the insider now owns 39,859 shares of the company’s stock, valued at approximately $3,722,830.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP William R. Devlin sold 16,469 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $96.51, for a total transaction of $1,589,423.19. Following the sale, the senior vice president now directly owns 51,973 shares of the company’s stock, valued at approximately $5,015,914.23. The disclosure for this sale can be found here. Insiders sold a total of 69,774 shares of company stock worth $6,798,741 over the last ninety days. Corporate insiders own 4.10% of the company’s stock.
A number of analysts have issued reports on EXP shares. Standpoint Research lowered Eagle Materials from a “buy” rating to a “hold” rating in a research report on Thursday. They noted that the move was a valuation call. Zacks Investment Research upgraded Eagle Materials from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. BidaskClub upgraded Eagle Materials from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Citigroup Inc. raised Eagle Materials from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $115.00 to $110.00 in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Eagle Materials has an average rating of “Hold” and a consensus target price of $107.00.
Shares of Eagle Materials Inc (EXP) traded down 0.80% during mid-day trading on Monday, reaching $105.85. 221,783 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $94.50 and a 200 day moving average price of $95.51. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 24.61 and a beta of 1.17. Eagle Materials Inc has a 52 week low of $73.83 and a 52 week high of $110.64.
Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Thursday, July 27th. The construction company reported $1.17 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.17. The company had revenue of $366.10 million during the quarter, compared to analyst estimates of $369.68 million. Eagle Materials had a return on equity of 18.29% and a net margin of 16.23%. The firm’s revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.93 earnings per share. Equities research analysts predict that Eagle Materials Inc will post $5.39 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 7th. Stockholders of record on Friday, October 6th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Thursday, October 5th. Eagle Materials’s dividend payout ratio is currently 9.30%.
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Eagle Materials Company Profile
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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