Point72 Asset Management L.P. boosted its stake in Eagle Materials (NYSE:EXP) by 663.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 549,791 shares of the construction company’s stock after buying an additional 477,791 shares during the period. Point72 Asset Management L.P. owned 1.13% of Eagle Materials worth $56,656,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of EXP. Bank of Montreal Can increased its holdings in shares of Eagle Materials by 57.8% during the fourth quarter. Bank of Montreal Can now owns 9,988 shares of the construction company’s stock valued at $1,132,000 after purchasing an additional 3,658 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Eagle Materials by 45.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,709 shares of the construction company’s stock worth $307,000 after acquiring an additional 841 shares during the period. Aperio Group LLC grew its holdings in Eagle Materials by 3.8% during the fourth quarter. Aperio Group LLC now owns 12,797 shares of the construction company’s stock worth $1,450,000 after acquiring an additional 472 shares during the period. Teacher Retirement System of Texas grew its holdings in Eagle Materials by 310.9% during the fourth quarter. Teacher Retirement System of Texas now owns 16,499 shares of the construction company’s stock worth $1,869,000 after acquiring an additional 12,484 shares during the period. Finally, California Public Employees Retirement System grew its holdings in Eagle Materials by 4.5% during the fourth quarter. California Public Employees Retirement System now owns 106,559 shares of the construction company’s stock worth $12,073,000 after acquiring an additional 4,631 shares during the period. 93.22% of the stock is currently owned by hedge funds and other institutional investors.
In other Eagle Materials news, EVP James H. Graass sold 5,000 shares of the firm’s stock in a transaction dated Thursday, June 7th. The stock was sold at an average price of $112.50, for a total transaction of $562,500.00. Following the completion of the sale, the executive vice president now directly owns 60,253 shares in the company, valued at approximately $6,778,462.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dale Craig Kesler sold 10,000 shares of the firm’s stock in a transaction dated Thursday, May 31st. The stock was sold at an average price of $108.70, for a total value of $1,087,000.00. Following the sale, the chief financial officer now owns 69,373 shares of the company’s stock, valued at $7,540,845.10. The disclosure for this sale can be found here. Insiders sold a total of 25,000 shares of company stock valued at $2,749,500 in the last quarter. 4.10% of the stock is currently owned by corporate insiders.
Eagle Materials (NYSE:EXP) last released its quarterly earnings results on Tuesday, May 15th. The construction company reported $0.82 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.08 by ($0.26). Eagle Materials had a net margin of 18.51% and a return on equity of 18.10%. The company had revenue of $284.70 million during the quarter, compared to analyst estimates of $308.56 million. During the same quarter last year, the business earned $0.88 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. research analysts expect that Eagle Materials will post 6.32 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 20th. Investors of record on Friday, June 22nd will be given a $0.10 dividend. The ex-dividend date is Thursday, June 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.35%. Eagle Materials’s dividend payout ratio (DPR) is 9.48%.
EXP has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on Eagle Materials in a report on Tuesday, April 17th. They set a “buy” rating and a $121.00 target price on the stock. Longbow Research raised Eagle Materials from a “neutral” rating to a “buy” rating in a report on Friday, March 23rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $130.00 target price on shares of Eagle Materials in a report on Friday, February 16th. Northcoast Research raised Eagle Materials from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $86.51 to $122.49 in a report on Wednesday. Finally, Zacks Investment Research raised Eagle Materials from a “sell” rating to a “hold” rating in a report on Thursday, May 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $128.37.
Eagle Materials Profile
Eagle Materials Inc produces and sells construction products and building materials for use in residential, industrial, commercial, and infrastructure construction in the United States. It also produces materials used for oil and natural gas extraction. The company operates in five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants.
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