Bank of Montreal Can grew its stake in Eagle Materials, Inc. (NYSE:EXP) by 21.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 13,247 shares of the construction company’s stock after acquiring an additional 2,378 shares during the quarter. Bank of Montreal Can’s holdings in Eagle Materials were worth $1,389,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its position in Eagle Materials by 32.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 5,710 shares of the construction company’s stock worth $599,000 after acquiring an additional 1,390 shares during the last quarter. Avalon Advisors LLC grew its position in Eagle Materials by 10.3% during the 1st quarter. Avalon Advisors LLC now owns 16,557 shares of the construction company’s stock worth $1,706,000 after acquiring an additional 1,543 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Eagle Materials during the 1st quarter worth approximately $480,000. Suntrust Banks Inc. grew its position in Eagle Materials by 5.1% during the 1st quarter. Suntrust Banks Inc. now owns 19,808 shares of the construction company’s stock worth $2,040,000 after acquiring an additional 968 shares during the last quarter. Finally, Amalgamated Bank grew its position in Eagle Materials by 6.5% during the 1st quarter. Amalgamated Bank now owns 10,523 shares of the construction company’s stock worth $1,084,000 after acquiring an additional 644 shares during the last quarter. Institutional investors own 95.12% of the company’s stock.
A number of equities research analysts recently commented on EXP shares. Zacks Investment Research upgraded Eagle Materials from a “sell” rating to a “hold” rating in a research report on Friday, May 11th. Citigroup decreased their price target on Eagle Materials from $132.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, July 31st. Stephens restated a “buy” rating and set a $124.00 price target on shares of Eagle Materials in a research report on Thursday, August 9th. Jefferies Financial Group reiterated a “buy” rating on shares of Eagle Materials in a research report on Friday, July 20th. Finally, Northcoast Research set a $128.00 price objective on Eagle Materials and gave the company a “buy” rating in a research report on Tuesday, July 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $125.67.
Eagle Materials (NYSE:EXP) last announced its quarterly earnings data on Monday, July 30th. The construction company reported $1.54 EPS for the quarter, missing the Zacks’ consensus estimate of $1.56 by ($0.02). The firm had revenue of $393.80 million during the quarter, compared to the consensus estimate of $402.34 million. Eagle Materials had a net margin of 18.96% and a return on equity of 18.77%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.17 earnings per share. analysts forecast that Eagle Materials, Inc. will post 6.15 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 5th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.42%. Eagle Materials’s payout ratio is 9.48%.
In other Eagle Materials news, EVP James H. Graass sold 5,000 shares of the stock in a transaction on Wednesday, June 13th. The stock was sold at an average price of $115.00, for a total value of $575,000.00. Following the transaction, the executive vice president now directly owns 60,253 shares in the company, valued at approximately $6,929,095. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dale Craig Kesler sold 10,000 shares of the stock in a transaction on Thursday, May 31st. The shares were sold at an average price of $108.70, for a total value of $1,087,000.00. Following the completion of the transaction, the chief financial officer now owns 69,373 shares in the company, valued at $7,540,845.10. The disclosure for this sale can be found here. Insiders sold a total of 20,000 shares of company stock worth $2,224,500 over the last quarter. Corporate insiders own 1.70% of the company’s stock.
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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