Mayport LLC Invests $431,000 in Eagle Materials Inc. (NYSE:EXP)

Mayport LLC acquired a new position in shares of Eagle Materials Inc. (NYSE:EXP) in the third quarter, Holdings Channel reports. The institutional investor acquired 1,500 shares of the construction company’s stock, valued at approximately $431,000.

A number of other hedge funds also recently made changes to their positions in EXP. Eagle Bay Advisors LLC increased its holdings in Eagle Materials by 79.2% in the first quarter. Eagle Bay Advisors LLC now owns 95 shares of the construction company’s stock worth $26,000 after purchasing an additional 42 shares in the last quarter. Rise Advisors LLC acquired a new stake in Eagle Materials in the first quarter valued at approximately $27,000. Tompkins Financial Corp acquired a new stake in Eagle Materials in the first quarter valued at approximately $27,000. Bessemer Group Inc. grew its stake in Eagle Materials by 132.7% in the first quarter. Bessemer Group Inc. now owns 114 shares of the construction company’s stock valued at $31,000 after acquiring an additional 65 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in Eagle Materials in the first quarter valued at approximately $42,000. 96.07% of the stock is currently owned by institutional investors.

Eagle Materials Trading Up 1.7 %

Shares of EXP stock opened at $300.76 on Thursday. The stock has a market capitalization of $10.18 billion, a PE ratio of 22.08 and a beta of 1.32. Eagle Materials Inc. has a 1-year low of $145.03 and a 1-year high of $304.98. The business has a 50-day moving average of $267.87 and a 200 day moving average of $250.65. 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 (NYSE:EXP) last issued 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 analysts’ expectations of $622.06 million. Eagle Materials had a return on equity of 37.10% and a net margin of 21.65%. Eagle Materials’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.55 EPS. As a group, sell-side analysts anticipate that Eagle Materials Inc. will post 15.9 earnings per share for the current year.

Eagle Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Tuesday, September 17th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Tuesday, September 17th. Eagle Materials’s payout ratio is 7.34%.

Insider Buying and Selling at Eagle Materials

In other news, Director George John Damiris sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $277.62, for a total value of $277,620.00. Following the completion of the transaction, the director now owns 7,943 shares of the company’s stock, valued at approximately $2,205,135.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Eric Cribbs sold 1,851 shares of the company’s 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 value of $277,620.00. Following the completion of the sale, the director now owns 7,943 shares in the company, valued at $2,205,135.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,851 shares of company stock valued at $2,124,258 in the last 90 days. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

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