Asio Capital LLC Buys Shares of 8,917 Eagle Materials Inc. (NYSE:EXP)

Asio Capital LLC purchased a new position in shares of Eagle Materials Inc. (NYSE:EXP) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 8,917 shares of the construction company’s stock, valued at approximately $2,565,000.

A number of other hedge funds and other institutional investors have also modified their holdings of EXP. Eagle Bay Advisors LLC boosted its stake in Eagle Materials by 79.2% in the 1st quarter. Eagle Bay Advisors LLC now owns 95 shares of the construction company’s stock worth $26,000 after buying an additional 42 shares during the last quarter. Rise Advisors LLC acquired a new stake in shares of Eagle Materials in the first quarter worth approximately $27,000. Tompkins Financial Corp purchased a new stake in Eagle Materials in the first quarter valued at approximately $27,000. Bessemer Group Inc. increased its position in Eagle Materials by 132.7% during 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, Acadian Asset Management LLC purchased a new position in Eagle Materials during the first quarter worth approximately $42,000. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Eric Cribbs sold 1,851 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $277.06, for a total value of $512,838.06. Following the transaction, the insider now directly owns 13,937 shares in the company, valued at approximately $3,861,385.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director George John Damiris sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $277.62, for a total transaction of $277,620.00. Following the completion of the transaction, the director now directly owns 7,943 shares of the company’s stock, valued at approximately $2,205,135.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Cribbs sold 1,851 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $277.06, for a total value of $512,838.06. Following the sale, the insider now owns 13,937 shares in the company, valued at $3,861,385.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,851 shares of company stock valued at $2,124,258 over the last 90 days. 1.60% of the stock is owned by company insiders.

Eagle Materials Trading Up 0.9 %

NYSE EXP opened at $291.93 on Friday. The company has a market capitalization of $9.88 billion, a price-to-earnings ratio of 21.44 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. Eagle Materials Inc. has a 12 month low of $145.03 and a 12 month high of $295.34. The company’s fifty day moving average price is $264.53 and its two-hundred day moving average price is $250.22.

Eagle Materials (NYSE:EXP) last issued its earnings results on Tuesday, July 30th. The construction company reported $3.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.57 by $0.37. The business had revenue of $608.69 million for the quarter, compared to analyst estimates of $622.06 million. Eagle Materials had a net margin of 21.65% and a return on equity of 37.10%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.55 EPS. As a group, research analysts predict that Eagle Materials Inc. will post 15.9 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Tuesday, September 17th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.34%. The ex-dividend date is Tuesday, September 17th. Eagle Materials’s dividend payout ratio is currently 7.34%.

Wall Street Analysts Forecast Growth

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

Eagle Materials Company Profile

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.