Long Pond Capital LP lifted its position in shares of Eagle Materials, Inc. (NYSE:EXP) by 10.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 594,935 shares of the construction company’s stock after purchasing an additional 55,000 shares during the period. Eagle Materials comprises 1.7% of Long Pond Capital LP’s portfolio, making the stock its 15th largest position. Long Pond Capital LP owned 1.42% of Eagle Materials worth $55,150,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisory Services Network LLC raised its holdings in Eagle Materials by 5.2% in the second quarter. Advisory Services Network LLC now owns 3,000 shares of the construction company’s stock valued at $278,000 after acquiring an additional 149 shares in the last quarter. LPL Financial LLC raised its holdings in Eagle Materials by 14.0% in the second quarter. LPL Financial LLC now owns 2,820 shares of the construction company’s stock valued at $261,000 after acquiring an additional 346 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in Eagle Materials in the first quarter valued at $31,000. Emerald Advisers LLC raised its holdings in Eagle Materials by 5.1% in the second quarter. Emerald Advisers LLC now owns 8,802 shares of the construction company’s stock valued at $816,000 after acquiring an additional 429 shares in the last quarter. Finally, Texas Permanent School Fund raised its holdings in Eagle Materials by 1.6% in the first quarter. Texas Permanent School Fund now owns 31,165 shares of the construction company’s stock valued at $2,627,000 after acquiring an additional 481 shares in the last quarter. 97.87% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on EXP. JPMorgan Chase & Co. cut their price target on shares of Eagle Materials from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Jefferies Financial Group cut shares of Eagle Materials from a “buy” rating to a “hold” rating and cut their price target for the company from $106.00 to $92.00 in a report on Thursday, July 18th. Zacks Investment Research cut shares of Eagle Materials from a “buy” rating to a “hold” rating in a report on Wednesday, July 3rd. Raymond James cut shares of Eagle Materials from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 31st. Finally, TheStreet cut shares of Eagle Materials from a “b” rating to a “c+” rating in a report on Friday, May 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $93.88.
Shares of NYSE:EXP opened at $86.73 on Friday. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 1.67 and a beta of 1.23. Eagle Materials, Inc. has a 1-year low of $57.00 and a 1-year high of $93.18. The company’s fifty day moving average is $83.96 and its two-hundred day moving average is $84.87. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.05 and a current ratio of 2.42.
Eagle Materials (NYSE:EXP) last issued its earnings results on Tuesday, July 30th. The construction company reported $1.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.40 by ($0.27). The business had revenue of $370.60 million for the quarter, compared to analyst estimates of $376.95 million. Eagle Materials had a return on equity of 17.21% and a net margin of 3.20%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period last year, the company posted $1.38 earnings per share. Sell-side analysts expect that Eagle Materials, Inc. will post 5.23 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, October 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.46%. Eagle Materials’s dividend payout ratio (DPR) is 7.92%.
In other Eagle Materials news, insider Keith W. Metcalf sold 10,980 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $81.33, for a total transaction of $893,003.40. Following the sale, the insider now directly owns 58,087 shares of the company’s stock, valued at $4,724,215.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David B. Powers sold 20,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $85.00, for a total transaction of $1,700,000.00. Following the sale, the director now directly owns 86,840 shares in the company, valued at $7,381,400. The disclosure for this sale can be found here. Insiders have sold 44,452 shares of company stock worth $3,704,207 over the last three months. 2.20% of the stock is owned by corporate insiders.
Eagle Materials Profile
Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials, light building materials, and materials used for oil and natural gas extraction in the United States. It operates in five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants.
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