Advisor Group Holdings Inc. increased its stake in Eagle Materials Inc. (NYSE: EXP – Get an assessment) by 6.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor held 12,983 shares of the construction company after purchasing an additional 779 shares during the quarter. Advisor Group Holdings Inc.’s holdings in Eagle Materials were worth $3,958,000 when it last filed with the SEC.
Several other institutional investors and hedge funds have also recently changed their EXP holdings. JPMorgan Chase & Co. increased its stake in Eagle Materials by 453.5% during the fourth quarter. JPMorgan Chase & Co. now owns 540,436 shares of the construction company valued at $89,961,000 after buying an additional 442,802 shares last quarter. Victory Capital Management Inc. increased its stake in Eagle Materials by 61.5% during the first quarter. Victory Capital Management Inc. now owns 625,280 shares of the construction company valued at $78,442,000 after purchasing an additional 238,048 shares last quarter. Invesco Ltd. increased its stake in Eagle Materials by 5.1% during the fourth quarter. Invesco Ltd. now owns 1,343,963 shares of the construction company valued at $223,714,000 after purchasing an additional 65,753 shares last quarter. Point72 Asset Management LP increased its stake in Eagle Materials by 249.7% during the fourth quarter. Point72 Asset Management LP now owns 76,260 shares of the construction company valued at $12,694,000 after buying an additional 54,455 shares last quarter. Finally, Scout Investments Inc. increased its stake in Eagle Materials by 19.1% during the first quarter. Scout Investments Inc. now owns 299,914 shares of the construction company valued at $38,497,000 after purchasing an additional 48,107 shares last quarter. Institutional investors hold 96.87% of the company’s shares.
Changes to analyst ratings
Several brokerages have recently weighed in on EXP. Goldman Sachs Group lowered its price target on Eagle Materials from $190.00 to $162.00 and set a “buy” rating for the company in a Friday, May 20 research note. StockNews.com upgraded Eagle Materials from a “hold” to a “buy” rating in a Friday, July 29 report. Citigroup raised its target price on Eagle Materials to $146.00 in a report released Tuesday. DA Davidson reduced its target price on Eagle Materials from $160.00 to $145.00 and set a “neutral” rating for the company in a Friday, May 20 report. Finally, Stephens reduced its target price on Eagle Materials to $170.00 in a Tuesday, July 26 report. Five research analysts gave the stock a hold rating and eight gave the stock a buy rating. Based on MarketBeat data, Eagle Materials has an average rating of “Moderate Buy” and a consensus target price of $159.09.
Eagle Materials stock up 2.7%
EXP opened at $130.81 on Thursday. Eagle Materials Inc. has a fifty-two week low of $105.34 and a fifty-two week high of $169.15. The company has a 50-day moving average of $119.31 and a 200-day moving average of $127.19. The company has a debt ratio of 1.00, a current ratio of 2.39 and a quick ratio of 1.37. The company has a market capitalization of $4.93 billion, a PE ratio of 13.57 and a beta of 1.29.
Eagle materials (NYSE: EXP – Get an assessment) last released its quarterly results on Thursday, May 19. The construction company reported earnings per share of $1.90 for the quarter, beating analysts’ consensus estimate of $1.74 by $0.16. Eagle Materials had a return on equity of 33.25% and a net margin of 19.72%. The company posted revenue of $413.10 million in the quarter, versus a consensus estimate of $400.68 million. During the same period last year, the company achieved EPS of $1.56. The company’s quarterly revenue increased 20.3% year over year. Equity research analysts expect Eagle Materials Inc. to post EPS of 11.5 for the current fiscal year.
Eagle Materials Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14. Shareholders of record on Friday, September 16 will receive a dividend of $0.25 per share. This represents a dividend of $1.00 on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Thursday, September 15. Eagle Materials’ dividend payout ratio (DPR) is currently 10.37%.
Insider Trading at Eagle Materials
In other news, EVP James H. Graass sold 9,092 shares in a transaction dated Monday, May 23. The stock was sold at an average price of $125.02, for a total transaction of $1,136,681.84. Following the transaction, the executive vice president now owns 20,090 shares of the company, valued at approximately $2,511,651.80. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. In other news, Executive Vice Chairman James H. Graass sold 4,000 shares in a trade dated Friday, May 20. The stock was sold at an average price of $125.50, for a total transaction of $502,000.00. Following the transaction, the executive vice president now owns 29,182 shares of the company, valued at approximately $3,662,341. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. Additionally, Executive Vice Chairman James H. Graass sold 9,092 shares in a trade dated Monday, May 23. The shares were sold at an average price of $125.02, for a total value of $1,136,681.84. Following the transaction, the executive vice president now directly owns 20,090 shares of the company, valued at approximately $2,511,651.80. Disclosure of this sale can be found here. Insiders have sold 17,776 shares of the company valued at $2,214,229 in the past three months. Company insiders own 1.60% of the company’s shares.
About Eagle Materials
Eagle Materials Inc, through its subsidiaries, produces and supplies heavy building materials and light building materials in the United States. It operates through the cement, concrete and aggregates, gypsum board and recycled paperboard segments. The company is engaged in the extraction of limestone for the manufacture, production, distribution and sale of Portland cement; crushing and sale of slag; and the extraction of gypsum for the manufacture and sale of plasterboard used for finishing interior walls and ceilings in residential, commercial and industrial structures.
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