Amalgamated Bank Cuts Stake in Eagle Materials Inc. (NYSE:EXP)

Amalgamated Bank lessened its stake in Eagle Materials Inc. (NYSE:EXP) by 8.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,332 shares of the construction company’s stock after selling 1,941 shares during the quarter. Amalgamated Bank owned 0.06% of Eagle Materials worth $4,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of EXP. Eagle Bay Advisors LLC increased its stake in Eagle Materials by 79.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 95 shares of the construction company’s stock valued at $26,000 after purchasing an additional 42 shares in the last quarter. Rise Advisors LLC bought a new stake in shares of Eagle Materials during the first quarter valued at approximately $27,000. YHB Investment Advisors Inc. purchased a new position in Eagle Materials in the 1st quarter worth approximately $27,000. Tompkins Financial Corp bought a new position in Eagle Materials in the 1st quarter valued at approximately $27,000. Finally, Bessemer Group Inc. lifted its position in Eagle Materials by 132.7% in the 1st quarter. Bessemer Group Inc. now owns 114 shares of the construction company’s stock valued at $31,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EXP. Raymond James downgraded Eagle Materials from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. Citigroup lifted their price target 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. StockNews.com downgraded shares of Eagle Materials from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. 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 research report on Thursday, August 1st. Finally, Jefferies Financial Group increased their price target on Eagle Materials from $270.00 to $283.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $289.78.

Eagle Materials Trading Down 1.5 %

Shares of Eagle Materials stock opened at $287.67 on Friday. Eagle Materials Inc. has a 1-year low of $145.03 and a 1-year high of $293.00. The company’s fifty day simple moving average is $251.73 and its 200-day simple moving average is $247.08. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.45 and a quick ratio of 1.17. The stock has a market capitalization of $9.74 billion, a PE ratio of 21.12 and a beta of 1.32.

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

Eagle Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Tuesday, September 17th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.35%. The ex-dividend date is Tuesday, September 17th. Eagle Materials’s dividend payout ratio is 7.34%.

Insiders Place Their Bets

In other Eagle Materials news, Director George John Damiris sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 directly owns 7,943 shares in the company, valued at $2,205,135.66. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director George John Damiris sold 1,000 shares of the business’s stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric Cribbs sold 1,851 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $277.06, for a total value of $512,838.06. Following the completion of the transaction, the insider now directly owns 13,937 shares of the company’s stock, valued at approximately $3,861,385.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,851 shares of company stock worth $2,124,258. Company insiders own 1.60% of the company’s stock.

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.