Meeder Asset Management Inc. increased its stake in shares of Eagle Materials Inc. (NYSE: EXP – Get a rating) by 90.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund held 462 shares of the construction company after acquiring an additional 220 shares during the period. Meeder Asset Management Inc.’s holdings in Eagle Materials were worth $60,000 when it last filed with the SEC.
A number of other big investors also changed their positions in the stock. Oak Thistle LLC acquired a new stake in shares of Eagle Materials during the first quarter at a value of $260,000. MQS Management LLC acquired a new stake in shares of Eagle Materials during the first quarter at a value of $711,000. Boston Partners increased its stake in Eagle Materials shares by 9.6% in the first quarter. Boston Partners now owns 271,752 shares of the construction company valued at $34,881,000 after acquiring 23,743 additional shares in the last quarter. GW&K Investment Management LLC increased its stake in Eagle Materials shares by 4.5% during the first quarter. GW&K Investment Management LLC now owns 452,604 shares of the construction company valued at $58,096,000 after acquiring an additional 19,493 shares in the last quarter. Finally, the Swiss National Bank increased its stake in Eagle Materials shares by 4.2% during the first quarter. The Swiss National Bank now owns 91,300 shares of the construction company valued at $11,719,000 after acquiring 3,700 more shares in the last quarter. Institutional investors and hedge funds hold 96.87% of the company’s shares.
Eagle Materials Stock Performance
Shares of NYSE: EXP opened at $126.37 on Tuesday. The company has a market capitalization of $4.76 billion, a P/E ratio of 13.11 and a beta of 1.29. The company has a debt ratio of 1.00, a quick ratio of 1.37 and a current ratio of 2.39. Eagle Materials Inc. has a one-year low of $105.34 and a one-year high of $169.15. The company’s 50-day simple moving average is $119.69 and its 200-day simple moving average is $126.32.
Eagle Materials Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14. Investors of record on Friday, September 16 will receive a dividend of $0.25 per share. The ex-dividend date is Thursday, September 15. This represents an annualized dividend of $1.00 and a dividend yield of 0.79%. Eagle Materials’ payout ratio is currently 10.37%.
Insider Activity at Eagle Materials
In related news, EVP James H. Graass sold 2,856 shares of the company in a trade dated Wednesday, June 1. The stock was sold at an average price of $131.02, for a total transaction of $374,193.12. Following the sale, the executive vice president now directly owns 14,294 shares of the company, valued at approximately $1,872,799.88. The sale was disclosed in a document filed with the SEC, accessible via this link. In other Eagle Materials news, Director Ed H. Bowman, Jr. sold 1,828 Eagle Materials shares in a trade that took place on Friday, June 17. The stock was sold at an average price of $110.15, for a total transaction of $201,354.20. As a result of the sale, the administrator now directly owns 10,485 shares of the company, valued at approximately $1,154,922.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via the SEC website. Additionally, Executive Vice President James H. Graass sold 2,856 shares of Eagle Materials in a trade that took place on Wednesday, June 1. The stock was sold at an average price of $131.02, for a total value of $374,193.12. Following the sale, the executive vice president now owns 14,294 shares of the company, valued at $1,872,799.88. Disclosure of this sale can be found here. Insiders of the company own 1.60% of the shares of the company.
Changes to analyst ratings
A number of brokerages have published reports on EXP. JPMorgan Chase & Co. downgraded Eagle Materials from an “overweight” rating to a “neutral” rating and lowered its price target for the stock from $165.00 to $130.00 in a Wednesday research note July 20. DA Davidson cut its price target on Eagle Materials from $160.00 to $145.00 and set a “neutral” rating on the stock in a Friday, May 20 research note. Citigroup raised its price target on Eagle Materials to $146.00 in a Tuesday, August 9 research note. Stephens reduced his price target on Eagle Materials to $170.00 in a Tuesday, July 26 research note. To finish, StockNews.com upgraded Eagle Materials from a “hold” to a “buy” rating in a Friday, July 29 research note. Five investment analysts gave the stock a hold rating and eight gave the stock a buy rating. According to data from MarketBeat, Eagle Materials currently has a consensus rating of “Moderate Buy” and an average price target of $159.09.
Eagle Materials Company Profile
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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