Neuberger Berman Group LLC Sells 81,427 Shares of Eagle Materials Inc (EXP)
Neuberger Berman Group LLC decreased its position in Eagle Materials Inc (NYSE:EXP) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,299,225 shares of the construction company’s stock after selling 81,427 shares during the period. Neuberger Berman Group LLC owned about 4.74% of Eagle Materials worth $212,494,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of EXP. Pacer Advisors Inc. raised its position in Eagle Materials by 12.0% in the second quarter. Pacer Advisors Inc. now owns 6,189 shares of the construction company’s stock worth $572,000 after buying an additional 664 shares during the last quarter. Prudential Financial Inc. raised its position in Eagle Materials by 39.7% in the second quarter. Prudential Financial Inc. now owns 419,711 shares of the construction company’s stock worth $38,789,000 after buying an additional 119,184 shares during the last quarter. Royce & Associates LP raised its position in Eagle Materials by 29.3% in the second quarter. Royce & Associates LP now owns 53,000 shares of the construction company’s stock worth $4,898,000 after buying an additional 12,000 shares during the last quarter. Tygh Capital Management Inc. raised its position in Eagle Materials by 26.9% in the second quarter. Tygh Capital Management Inc. now owns 76,686 shares of the construction company’s stock worth $7,087,000 after buying an additional 16,252 shares during the last quarter. Finally, Mastrapasqua Asset Management Inc. raised its position in Eagle Materials by 31.6% in the second quarter. Mastrapasqua Asset Management Inc. now owns 12,450 shares of the construction company’s stock worth $1,151,000 after buying an additional 2,990 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.
Eagle Materials Inc (NYSE EXP) opened at 87.24 on Monday. The firm’s 50-day moving average is $91.40 and its 200-day moving average is $96.35. Eagle Materials Inc has a 52 week low of $73.27 and a 52 week high of $110.64. The stock has a market capitalization of $4.23 billion, a P/E ratio of 20.28 and a beta of 1.23.
Eagle Materials (NYSE:EXP) last released its earnings results on Thursday, July 27th. The construction company reported $1.17 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.17. Eagle Materials had a return on equity of 18.29% and a net margin of 16.23%. The company had revenue of $366.10 million for the quarter, compared to analysts’ expectations of $369.68 million. During the same quarter in the previous year, the business posted $0.93 EPS. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. On average, equities research analysts predict that Eagle Materials Inc will post $5.38 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 7th. Shareholders of record on Friday, October 6th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, October 5th. This represents a $0.40 annualized dividend and a yield of 0.46%. Eagle Materials’s dividend payout ratio (DPR) is presently 9.30%.
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A number of research firms recently weighed in on EXP. BidaskClub upgraded shares of Eagle Materials from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 5th. Zacks Investment Research lowered shares of Eagle Materials from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Standpoint Research upgraded shares of Eagle Materials from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Citigroup Inc. upgraded shares of Eagle Materials from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $115.00 to $110.00 in a research report on Monday, July 31st. Finally, Stephens upgraded shares of Eagle Materials from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, May 30th. Two analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $104.67.
In other Eagle Materials news, CEO David B. Powers sold 11,317 shares of Eagle Materials stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $93.57, for a total transaction of $1,058,931.69. Following the transaction, the chief executive officer now owns 106,580 shares of the company’s stock, valued at approximately $9,972,690.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gerald J. Essl sold 2,000 shares of Eagle Materials stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $93.40, for a total value of $186,800.00. Following the transaction, the insider now directly owns 39,859 shares in the company, valued at approximately $3,722,830.60. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.
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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