Envestnet Asset Management Inc. Acquires 10,835 Shares of Eagle Materials Inc. (NYSE:EXP)

Envestnet Asset Management Inc. increased its holdings in shares of Eagle Materials Inc. (NYSE:EXP) by 11.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 105,768 shares of the construction company’s stock after acquiring an additional 10,835 shares during the quarter. Envestnet Asset Management Inc. owned about 0.31% of Eagle Materials worth $23,000,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Eagle Bay Advisors LLC increased its position in Eagle Materials by 79.2% during the first quarter. Eagle Bay Advisors LLC now owns 95 shares of the construction company’s stock worth $26,000 after acquiring an additional 42 shares during the period. Wealthcare Advisory Partners LLC increased its holdings in Eagle Materials by 3.7% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,277 shares of the construction company’s stock valued at $347,000 after buying an additional 45 shares during the period. GAMMA Investing LLC increased its holdings in Eagle Materials by 16.5% in the 1st quarter. GAMMA Investing LLC now owns 382 shares of the construction company’s stock valued at $104,000 after buying an additional 54 shares during the period. Arizona State Retirement System increased its holdings in Eagle Materials by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 9,644 shares of the construction company’s stock valued at $2,097,000 after buying an additional 56 shares during the period. Finally, Bessemer Group Inc. increased its holdings 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 buying an additional 65 shares during the period. 96.07% of the stock is owned by institutional investors.

Eagle Materials Stock Down 1.5 %

NYSE:EXP opened at $287.67 on Monday. The firm’s 50 day simple moving average is $251.73 and its 200 day simple moving average is $247.01. 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 one year low of $145.03 and a one year high of $293.00. The company has a market cap of $9.74 billion, a PE ratio of 21.12 and a beta of 1.32.

Eagle Materials (NYSE:EXP) last posted its earnings results on Tuesday, July 30th. The construction company reported $3.94 EPS for the quarter, topping the consensus estimate of $3.57 by $0.37. Eagle Materials had a net margin of 21.65% and a return on equity of 37.10%. The business had revenue of $608.69 million for the quarter, compared to the consensus estimate of $622.06 million. During the same period last year, the company earned $3.55 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. On average, research analysts anticipate that Eagle Materials Inc. will post 15.9 earnings per share for the current year.

Eagle Materials Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $1.00 annualized dividend and a yield of 0.35%. Eagle Materials’s dividend payout ratio is presently 7.34%.

Insider Transactions at Eagle Materials

In other news, insider Eric Cribbs sold 1,851 shares of the business’s stock in a transaction that occurred on 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 owns 13,937 shares in the company, valued at approximately $3,861,385.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director George John Damiris sold 1,000 shares of the business’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 transaction, the director now owns 7,943 shares in the company, valued at approximately $2,205,135.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Cribbs sold 1,851 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $277.06, for a total transaction of $512,838.06. Following the transaction, the insider now owns 13,937 shares in the company, 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.

Analysts Set New Price Targets

Several research firms have commented on EXP. Citigroup raised their target price 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. StockNews.com lowered shares of Eagle Materials from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Raymond James lowered shares of Eagle Materials from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. 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 report on Wednesday, July 17th. Finally, Stephens lifted their price target on shares of Eagle Materials from $280.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Eagle Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $289.78.

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.