Castleark Management LLC purchased a new position in shares of Eagle Materials, Inc. (NYSE:EXP) during the second quarter, Holdings Channel.com reports. The fund purchased 116,780 shares of the construction company’s stock, valued at approximately $10,826,000.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Penserra Capital Management LLC purchased a new position in shares of Eagle Materials in the first quarter worth about $31,000. NN Investment Partners Holdings N.V. purchased a new position in Eagle Materials during the second quarter worth approximately $174,000. Coldstream Capital Management Inc. acquired a new position in Eagle Materials during the first quarter worth $207,000. GAM Holding AG acquired a new position in Eagle Materials during the second quarter worth $236,000. Finally, Dupont Capital Management Corp purchased a new stake in Eagle Materials in the 1st quarter valued at $228,000. Institutional investors own 97.87% of the company’s stock.
Several analysts have recently commented on EXP shares. Jefferies Financial Group lowered shares of Eagle Materials from a “buy” rating to a “hold” rating and reduced their price target for the company from $106.00 to $92.00 in a research report on Thursday, July 18th. SunTrust Banks set a $95.00 price target on Eagle Materials and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Citigroup raised their price target on shares of Eagle Materials from $101.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Northcoast Research downgraded Eagle Materials from a “neutral” rating to a “sell” rating and set a $76.00 price objective for the company. in a research report on Monday, July 1st. Finally, Zacks Investment Research lowered Eagle Materials from a “buy” rating to a “hold” rating in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. Eagle Materials currently has an average rating of “Hold” and an average target price of $93.88.
Shares of NYSE:EXP traded up $0.51 during trading on Wednesday, reaching $87.71. The company had a trading volume of 1,863 shares, compared to its average volume of 424,776. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 1.62 and a beta of 1.23. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.42 and a quick ratio of 1.05. The stock’s fifty day moving average price is $83.93 and its 200 day moving average price is $84.82. Eagle Materials, Inc. has a fifty-two week low of $57.00 and a fifty-two week high of $93.18.
Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.27). The firm had revenue of $370.60 million during the quarter, compared to analysts’ expectations of $376.95 million. Eagle Materials had a net margin of 3.20% and a return on equity of 17.21%. The business’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the business earned $1.38 earnings per share. On average, equities analysts anticipate 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. Stockholders of record on Friday, October 4th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Thursday, October 3rd. Eagle Materials’s dividend payout ratio (DPR) is 7.92%.
About Eagle Materials
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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