King Luther Capital Management Corp Has $10.05 Million Stake in Eagle Materials Inc. (NYSE:EXP)

King Luther Capital Management Corp grew its stake in Eagle Materials Inc. (NYSE:EXP) by 8.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,207 shares of the construction company’s stock after acquiring an additional 3,603 shares during the quarter. King Luther Capital Management Corp owned 0.14% of Eagle Materials worth $10,048,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EXP. TD Asset Management Inc increased its holdings in shares of Eagle Materials by 261.8% in the fourth quarter. TD Asset Management Inc now owns 871,970 shares of the construction company’s stock worth $176,870,000 after acquiring an additional 630,964 shares in the last quarter. Norges Bank acquired a new position in Eagle Materials in the 4th quarter worth $88,925,000. Epoch Investment Partners Inc. increased its holdings in Eagle Materials by 133.0% during the 4th quarter. Epoch Investment Partners Inc. now owns 662,628 shares of the construction company’s stock worth $134,407,000 after purchasing an additional 378,296 shares in the last quarter. Baupost Group LLC MA bought a new stake in shares of Eagle Materials in the first quarter valued at about $71,199,000. Finally, Captrust Financial Advisors lifted its stake in Eagle Materials by 61.6% in the 1st quarter. Captrust Financial Advisors now owns 509,605 shares of the construction company’s stock valued at $138,485,000 after acquiring an additional 194,342 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Eagle Materials Trading Down 1.5 %

Shares of EXP opened at $287.67 on Friday. The business’s fifty day moving average is $250.56 and its 200-day moving average is $246.93. The firm has a market cap of $9.74 billion, a price-to-earnings ratio of 21.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.17 and a current ratio of 2.45. Eagle Materials Inc. has a 52-week low of $145.03 and a 52-week high of $293.00.

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

Eagle Materials Dividend Announcement

The company 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. The ex-dividend date is Tuesday, September 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.35%. Eagle Materials’s dividend payout ratio (DPR) is currently 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 dated Tuesday, September 17th. The shares were sold at an average price of $277.62, for a total transaction of $277,620.00. Following the transaction, the director now owns 7,943 shares of the company’s stock, valued at approximately $2,205,135.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Dale Craig Kesler sold 5,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 60,488 shares in the company, valued at $16,135,778.88. 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 transaction, the director now directly owns 7,943 shares in the company, valued at $2,205,135.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,851 shares of company stock valued at $2,124,258. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on EXP. Jefferies Financial Group lifted their price target on shares of Eagle Materials from $270.00 to $283.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Raymond James downgraded Eagle Materials from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. StockNews.com cut Eagle Materials from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Citigroup raised their target price 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. Finally, Stephens lifted their target price 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 equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $289.78.

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.