Advisory Research Inc. lessened its position in Eagle Materials, Inc. (NYSE:EXP) by 96.2% in the 4th quarter, HoldingsChannel reports. The fund owned 5,060 shares of the construction company’s stock after selling 127,820 shares during the period. Advisory Research Inc.’s holdings in Eagle Materials were worth $573,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of EXP. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Eagle Materials in the 3rd quarter valued at approximately $201,000. Cigna Investments Inc. New purchased a new stake in shares of Eagle Materials in the 4th quarter valued at approximately $205,000. HM Payson & Co. purchased a new stake in Eagle Materials in the 3rd quarter worth approximately $225,000. Ingalls & Snyder LLC purchased a new stake in Eagle Materials in the 4th quarter worth approximately $234,000. Finally, Investment Centers of America Inc. purchased a new stake in Eagle Materials in the 3rd quarter worth approximately $302,000. Institutional investors and hedge funds own 91.37% of the company’s stock.
EXP has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Eagle Materials from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 30th. Stifel Nicolaus increased their target price on shares of Eagle Materials from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Finally, Citigroup increased their target price on shares of Eagle Materials from $121.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $135.00.
Eagle Materials (NYSE:EXP) last released its earnings results on Wednesday, January 31st. The construction company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. Eagle Materials had a net margin of 18.53% and a return on equity of 18.66%. The company had revenue of $359.40 million during the quarter, compared to the consensus estimate of $364.52 million. During the same quarter in the prior year, the firm earned $1.17 EPS. The company’s revenue was up 18.8% compared to the same quarter last year. equities analysts expect that Eagle Materials, Inc. will post 5.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 11th. Shareholders of record on Thursday, April 12th will be given a $0.10 dividend. The ex-dividend date is Wednesday, April 11th. This represents a $0.40 dividend on an annualized basis and a yield of 0.39%. Eagle Materials’s payout ratio is 7.59%.
In other news, insider Gerald J. Essl sold 10,000 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $113.77, for a total transaction of $1,137,700.00. Following the transaction, the insider now owns 24,380 shares in the company, valued at approximately $2,773,712.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Haack sold 6,731 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $115.00, for a total transaction of $774,065.00. Following the transaction, the chief operating officer now owns 28,136 shares in the company, valued at approximately $3,235,640. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,623 shares of company stock valued at $6,930,994. Insiders own 4.10% of the company’s stock.
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About Eagle Materials
Eagle Materials Inc is a supplier of construction products, building materials and materials used for oil and natural gas extraction. The Company operates through five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants. The Company’s construction products are used in residential, industrial, commercial and infrastructure construction, and include cement, slag, concrete and aggregates.
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