Ausbil Investment Management Ltd Boosts Stake in Eagle Materials Inc. (NYSE:EXP)

Ausbil Investment Management Ltd raised its holdings in shares of Eagle Materials Inc. (NYSE:EXP) by 400.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,978 shares of the construction company’s stock after purchasing an additional 10,384 shares during the quarter. Eagle Materials accounts for about 1.1% of Ausbil Investment Management Ltd’s portfolio, making the stock its 28th largest position. Ausbil Investment Management Ltd’s holdings in Eagle Materials were worth $3,733,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Eagle Bay Advisors LLC lifted its stake in shares of Eagle Materials by 79.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 95 shares of the construction company’s stock worth $26,000 after acquiring an additional 42 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its position in shares of Eagle Materials by 3.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 1,277 shares of the construction company’s stock worth $347,000 after purchasing an additional 45 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Eagle Materials by 0.6% during the second quarter. Arizona State Retirement System now owns 9,644 shares of the construction company’s stock valued at $2,097,000 after purchasing an additional 56 shares during the period. Bessemer Group Inc. grew its holdings in shares of Eagle Materials by 132.7% in the first quarter. Bessemer Group Inc. now owns 114 shares of the construction company’s stock worth $31,000 after purchasing an additional 65 shares during the last quarter. Finally, Trivant Custom Portfolio Group LLC increased its stake in Eagle Materials by 3.2% in the 3rd quarter. Trivant Custom Portfolio Group LLC now owns 2,585 shares of the construction company’s stock worth $744,000 after buying an additional 79 shares during the period. Institutional investors own 96.07% of the company’s stock.

Insider Activity at Eagle Materials

In other Eagle Materials news, CFO Dale Craig Kesler sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $266.76, for a total value of $1,333,800.00. Following the completion of the sale, the chief financial officer now owns 60,488 shares of the company’s stock, valued at approximately $16,135,778.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Eagle Materials news, insider Eric Cribbs sold 1,851 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $277.06, for a total transaction of $512,838.06. Following the transaction, the insider now owns 13,937 shares in the company, valued at approximately $3,861,385.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Dale Craig Kesler sold 5,000 shares of Eagle Materials stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $266.76, for a total transaction of $1,333,800.00. Following the sale, the chief financial officer now owns 60,488 shares of the company’s stock, valued at $16,135,778.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,851 shares of company stock valued at $2,124,258 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Eagle Materials Stock Down 0.2 %

Shares of EXP stock traded down $0.64 during mid-day trading on Thursday, hitting $285.90. 54,624 shares of the stock traded hands, compared to its average volume of 305,706. Eagle Materials Inc. has a 52-week low of $145.03 and a 52-week high of $306.36. The stock has a market cap of $9.68 billion, a P/E ratio of 21.05 and a beta of 1.32. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.45 and a quick ratio of 1.17. The stock’s fifty day moving average is $273.14 and its two-hundred day moving average is $251.73.

Eagle Materials (NYSE:EXP) last announced its earnings results on Tuesday, July 30th. The construction company reported $3.94 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.37. The company had revenue of $608.69 million during the quarter, compared to the consensus estimate of $622.06 million. Eagle Materials had a net margin of 21.65% and a return on equity of 37.10%. Eagle Materials’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm earned $3.55 earnings per share. Equities analysts predict that Eagle Materials Inc. will post 15.9 EPS for the current year.

Eagle Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Tuesday, September 17th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $1.00 annualized dividend and a yield of 0.35%. Eagle Materials’s dividend payout ratio (DPR) is 7.34%.

Analyst Ratings Changes

A number of brokerages have commented on EXP. Raymond James downgraded shares of Eagle Materials from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Stephens increased their price objective on Eagle Materials from $280.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped their target price on Eagle Materials from $270.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Jefferies Financial Group raised their price target on Eagle Materials from $309.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Citigroup upped their price objective on shares of Eagle Materials from $252.00 to $311.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Eagle Materials currently has an average rating of “Moderate Buy” and a consensus price target of $297.78.

About Eagle Materials

Eagle Materials Inc, through its subsidiaries, manufactures and sells heavy construction materials and light building materials in the United States. It operates in four segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland cement, including Portland limestone cement; grinding and sale of slag; and mining of gypsum for the manufacture and sale of gypsum wallboards used to finish the interior walls and ceilings in residential, commercial, and industrial structures, as well as well as containerboard and lightweight packaging grades; manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and mining and sale of aggregates, such as crushed stone, sand, and gravel.