Hermes Investment Management Ltd. Sells 45,255 Shares of Eagle Materials Inc (EXP)

Hermes Investment Management Ltd. decreased its position in Eagle Materials Inc (NYSE:EXP) by 7.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 554,536 shares of the construction company’s stock after selling 45,255 shares during the period. Hermes Investment Management Ltd. owned approximately 1.14% of Eagle Materials worth $51,250,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of EXP. BlackRock Inc. increased its position in shares of Eagle Materials by 16,628.1% in the first quarter. BlackRock Inc. now owns 3,951,353 shares of the construction company’s stock worth $383,836,000 after buying an additional 3,927,732 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Eagle Materials by 5.0% in the first quarter. Vanguard Group Inc. now owns 3,742,598 shares of the construction company’s stock worth $363,557,000 after buying an additional 179,308 shares during the last quarter. Neuberger Berman Group LLC increased its position in shares of Eagle Materials by 8.5% in the first quarter. Neuberger Berman Group LLC now owns 2,380,652 shares of the construction company’s stock worth $231,257,000 after buying an additional 186,557 shares during the last quarter. State Street Corp increased its position in shares of Eagle Materials by 0.3% in the first quarter. State Street Corp now owns 1,307,300 shares of the construction company’s stock worth $126,993,000 after buying an additional 3,890 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Eagle Materials by 41.4% in the first quarter. Bank of New York Mellon Corp now owns 1,151,504 shares of the construction company’s stock worth $111,857,000 after buying an additional 337,102 shares during the last quarter. Hedge funds and other institutional investors own 93.07% of the company’s stock.

Shares of Eagle Materials Inc (NYSE EXP) traded down 1.13% on Friday, reaching $88.25. The company’s stock had a trading volume of 612,776 shares. The stock has a 50-day moving average of $92.04 and a 200 day moving average of $96.93. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 20.52 and a beta of 1.23. Eagle Materials Inc has a 52 week low of $73.27 and a 52 week high of $110.64.

Eagle Materials (NYSE:EXP) last released its earnings results on Thursday, July 27th. The construction company reported $1.17 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.17. The company had revenue of $366.10 million during the quarter, compared to analysts’ expectations of $369.68 million. Eagle Materials had a return on equity of 18.29% and a net margin of 16.23%. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period last year, the firm earned $0.93 EPS. On average, analysts expect that Eagle Materials Inc will post $5.38 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 7th. Stockholders of record on Friday, October 6th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.45%. Eagle Materials’s dividend payout ratio (DPR) is currently 9.30%.

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EXP has been the subject of a number of recent research reports. Zacks Investment Research upgraded Eagle Materials from a “hold” rating to a “buy” rating and set a $111.00 price objective for the company in a research note on Wednesday, May 24th. Stephens upgraded Eagle Materials from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 30th. Citigroup Inc. upgraded Eagle Materials from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $115.00 to $110.00 in a research report on Monday, July 31st. BidaskClub upgraded Eagle Materials from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Standpoint Research upgraded Eagle Materials from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $104.67.

In other news, insider Gerald J. Essl sold 2,000 shares of Eagle Materials stock in a transaction on Friday, August 4th. The stock was sold at an average price of $93.40, for a total value of $186,800.00. Following the completion of the sale, the insider now directly owns 39,859 shares of the company’s stock, valued at approximately $3,722,830.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David B. Powers sold 11,317 shares of Eagle Materials stock in a transaction on Monday, August 7th. The shares were sold at an average price of $93.57, for a total value of $1,058,931.69. Following the completion of the sale, the chief executive officer now directly owns 106,580 shares of the company’s stock, valued at $9,972,690.60. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by company insiders.

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.

Institutional Ownership by Quarter for Eagle Materials (NYSE:EXP)

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