Reinhart Partners LLC. Decreases Position in Eagle Materials Inc $EXP

Reinhart Partners LLC. reduced its position in shares of Eagle Materials Inc (NYSE:EXP) by 5.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 35,021 shares of the construction company’s stock after selling 2,169 shares during the period. Reinhart Partners LLC.’s holdings in Eagle Materials were worth $8,161,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Eagle Materials in the second quarter worth approximately $87,626,000. American Century Companies Inc. lifted its holdings in Eagle Materials by 80.9% in the 2nd quarter. American Century Companies Inc. now owns 521,276 shares of the construction company’s stock valued at $105,356,000 after purchasing an additional 233,153 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in Eagle Materials by 57.2% in the 2nd quarter. William Blair Investment Management LLC now owns 611,745 shares of the construction company’s stock valued at $123,640,000 after purchasing an additional 222,537 shares in the last quarter. Frontier Capital Management Co. LLC boosted its stake in Eagle Materials by 36.0% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 830,284 shares of the construction company’s stock worth $167,809,000 after purchasing an additional 219,627 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in shares of Eagle Materials by 198.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 306,990 shares of the construction company’s stock worth $62,046,000 after buying an additional 204,060 shares in the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on EXP shares. Jefferies Financial Group reiterated a “hold” rating and issued a $226.00 target price on shares of Eagle Materials in a research report on Monday, November 3rd. Stifel Nicolaus set a $246.00 price objective on shares of Eagle Materials in a report on Monday, October 27th. DA Davidson decreased their target price on shares of Eagle Materials from $245.00 to $225.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Zacks Research upgraded Eagle Materials from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Citigroup cut their price target on Eagle Materials from $233.00 to $232.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Three analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $236.20.

Insider Activity

In related news, Director David E. Rush purchased 1,000 shares of Eagle Materials stock in a transaction dated Wednesday, November 5th. The shares were acquired at an average cost of $208.08 per share, with a total value of $208,080.00. Following the purchase, the director owned 4,173 shares of the company’s stock, valued at approximately $868,317.84. The trade was a 31.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.50% of the company’s stock.

Eagle Materials Stock Up 0.7%

EXP stock opened at $232.32 on Friday. Eagle Materials Inc has a one year low of $191.91 and a one year high of $265.42. The firm has a market cap of $7.45 billion, a PE ratio of 17.15 and a beta of 1.36. The firm’s 50 day moving average price is $217.13 and its 200-day moving average price is $223.67. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.22 and a current ratio of 2.72.

Eagle Materials (NYSE:EXP) last posted its earnings results on Thursday, October 30th. The construction company reported $4.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.12). Eagle Materials had a return on equity of 30.13% and a net margin of 19.41%.The business had revenue of $638.91 million for the quarter, compared to analyst estimates of $635.55 million. During the same period last year, the business earned $4.31 EPS. Eagle Materials’s revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts anticipate that Eagle Materials Inc will post 14.39 EPS for the current year.

Eagle Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 12th. Shareholders of record on Monday, December 15th were given a dividend of $0.25 per share. The ex-dividend date was Monday, December 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.4%. Eagle Materials’s dividend payout ratio (DPR) is currently 7.38%.

About Eagle Materials

Eagle Materials Inc (NYSE:EXP) is a Dallas, Texas–based manufacturer of building materials serving construction and heavy industry markets across the United States. The company’s primary products include portland and masonry cements, gypsum wallboard, lightweight aggregate, paperboard packaging, and roofing granules. These product lines support a wide range of end uses—from residential and commercial buildings to infrastructure projects and industrial applications.

Since its spin-off from a major homebuilding company in 2004, Eagle Materials has grown through targeted facility expansions and strategic acquisitions.