Pacer Advisors Inc. decreased its holdings in Eagle Materials, Inc. (NYSE:EXP) by 17.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,106 shares of the construction company’s stock after selling 3,160 shares during the quarter. Pacer Advisors Inc.’s holdings in Eagle Materials were worth $1,360,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Transamerica Financial Advisors Inc. bought a new position in Eagle Materials in the 2nd quarter valued at $71,000. Griffin Asset Management Inc. bought a new position in Eagle Materials in the 2nd quarter valued at $166,000. NN Investment Partners Holdings N.V. bought a new position in Eagle Materials in the 2nd quarter valued at $174,000. HM Payson & Co. bought a new position in Eagle Materials in the 2nd quarter valued at $196,000. Finally, Verition Fund Management LLC bought a new position in Eagle Materials in the 2nd quarter valued at $221,000. Hedge funds and other institutional investors own 97.87% of the company’s stock.
Shares of NYSE EXP traded down $0.76 during midday trading on Friday, hitting $91.75. The stock had a trading volume of 3,237 shares, compared to its average volume of 358,225. The company’s 50-day simple moving average is $88.11 and its 200 day simple moving average is $87.27. The firm has a market cap of $3.91 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 1.74 and a beta of 1.25. Eagle Materials, Inc. has a fifty-two week low of $57.00 and a fifty-two week high of $93.19. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.44%. Eagle Materials’s dividend payout ratio (DPR) is presently 7.92%.
In related news, insider Keith W. Metcalf sold 3,836 shares of Eagle Materials stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $92.00, for a total transaction of $352,912.00. Following the completion of the sale, the insider now directly owns 39,610 shares of the company’s stock, valued at $3,644,120. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ed H. Bowman, Jr. sold 2,492 shares of Eagle Materials stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $84.52, for a total value of $210,623.84. Following the sale, the director now directly owns 16,386 shares of the company’s stock, valued at $1,384,944.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,630 shares of company stock valued at $5,077,899. 2.20% of the stock is owned by insiders.
EXP has been the subject of several research analyst reports. Jefferies Financial Group downgraded Eagle Materials from a “buy” rating to a “hold” rating and cut their price objective for the company from $106.00 to $92.00 in a research report on Thursday, July 18th. Exane BNP Paribas started coverage on Eagle Materials in a research report on Wednesday, October 9th. They issued an “outperform” rating and a $112.00 price objective for the company. BNP Paribas started coverage on Eagle Materials in a research note on Wednesday, October 9th. They issued an “outperform” rating for the company. ValuEngine cut Eagle Materials from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. lowered their target price on Eagle Materials from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $95.42.
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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