Hermes Investment Management Ltd. cut its stake in shares of Eagle Materials Inc (NYSE:EXP) by 7.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 554,536 shares of the construction company’s stock after selling 45,255 shares during the period. Hermes Investment Management Ltd. owned about 1.14% of Eagle Materials worth $51,250,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its stake in shares of Eagle Materials by 0.3% in the second quarter. Bank of Montreal Can now owns 6,304 shares of the construction company’s stock worth $583,000 after buying an additional 17 shares during the period. RPG Investment Advisory LLC boosted its stake in shares of Eagle Materials by 0.3% in the first quarter. RPG Investment Advisory LLC now owns 7,308 shares of the construction company’s stock worth $709,000 after buying an additional 21 shares during the period. Greenwood Capital Associates LLC boosted its stake in shares of Eagle Materials by 1.2% in the first quarter. Greenwood Capital Associates LLC now owns 2,431 shares of the construction company’s stock worth $236,000 after buying an additional 29 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Eagle Materials by 0.4% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 8,343 shares of the construction company’s stock worth $810,000 after buying an additional 33 shares during the period. Finally, Coldstream Capital Management Inc. boosted its stake in shares of 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 period. Institutional investors and hedge funds own 92.66% of the company’s stock.
Eagle Materials Inc (EXP) traded up 0.53% during trading on Monday, hitting $92.81. The stock had a trading volume of 127,783 shares. The stock has a market capitalization of $4.50 billion, a PE ratio of 22.64 and a beta of 1.23. The stock’s 50-day moving average is $93.65 and its 200-day moving average is $98.38. Eagle Materials Inc has a 52-week low of $73.27 and a 52-week high of $110.64.
Eagle Materials (NYSE:EXP) last issued its quarterly earnings data on Thursday, May 18th. The construction company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.03. Eagle Materials had a return on equity of 18.07% and a net margin of 16.36%. The company had revenue of $278.60 million for the quarter, compared to the consensus estimate of $271.18 million. During the same quarter last year, the company earned $0.80 earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, analysts predict that Eagle Materials Inc will post $5.40 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Wednesday, June 21st were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Monday, June 19th. Eagle Materials’s payout ratio is currently 9.76%.
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A number of brokerages have recently commented on EXP. Zacks Investment Research cut shares of Eagle Materials from a “buy” rating to a “hold” rating in a report on Friday, May 19th. Stephens upgraded shares of Eagle Materials from an “equal weight” rating to an “overweight” rating in a report on Tuesday, May 30th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $102.00.
In related news, CEO David B. Powers sold 11,000 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $99.03, for a total transaction of $1,089,330.00. Following the sale, the chief executive officer now owns 73,400 shares of the company’s stock, valued at $7,268,802. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP James H. Graass sold 10,000 shares of the firm’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 sale, the executive vice president now directly owns 69,653 shares in the company, valued at approximately $7,034,953. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.
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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