Delphi Management Inc. MA Grows Stake in Eagle Materials Inc. (NYSE:EXP)

Delphi Management Inc. MA lifted its position in shares of Eagle Materials Inc. (NYSE:EXP) by 6.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,808 shares of the construction company’s stock after buying an additional 503 shares during the quarter. Delphi Management Inc. MA’s holdings in Eagle Materials were worth $1,698,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Eagle Bay Advisors LLC raised its position in shares of 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 acquiring an additional 42 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in Eagle Materials in the first quarter worth about $27,000. Tompkins Financial Corp purchased a new stake in shares of Eagle Materials during the first quarter valued at about $27,000. Rise Advisors LLC bought a new stake in shares of Eagle Materials in the 1st quarter valued at about $27,000. Finally, Bessemer Group Inc. grew its position in shares of Eagle Materials by 132.7% in the 1st quarter. Bessemer Group Inc. now owns 114 shares of the construction company’s stock worth $31,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Eagle Materials Stock Performance

Shares of NYSE EXP opened at $287.76 on Tuesday. The company has a 50 day simple moving average of $257.93 and a two-hundred day simple moving average of $248.36. The stock has a market cap of $9.74 billion, a price-to-earnings ratio of 21.13 and a beta of 1.32. The company has a current ratio of 2.45, a quick ratio of 1.17 and a debt-to-equity ratio of 0.81. Eagle Materials Inc. has a 12 month low of $145.03 and a 12 month high of $293.00.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Tuesday, July 30th. The construction company reported $3.94 EPS for the quarter, beating the consensus estimate of $3.57 by $0.37. The company 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 firm’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $3.55 earnings per share. As a group, analysts predict that Eagle Materials Inc. will post 15.9 earnings per share for the current year.

Eagle Materials Announces Dividend

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

Wall Street Analyst Weigh In

EXP has been the subject of a number of analyst reports. Stephens increased their target price on shares of Eagle Materials from $280.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Citigroup raised their price objective on Eagle Materials from $252.00 to $311.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Raymond James downgraded Eagle Materials from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Jefferies Financial Group increased their price objective on shares of Eagle Materials from $270.00 to $283.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $289.78.

Insiders Place Their Bets

In other news, CFO Dale Craig Kesler sold 5,000 shares of Eagle Materials stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $266.76, for a total transaction of $1,333,800.00. Following the completion of the transaction, the chief financial officer now directly owns 60,488 shares of the company’s stock, valued at approximately $16,135,778.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 stock was sold at an average price of $277.06, for a total value of $512,838.06. Following the completion of the sale, the insider now directly owns 13,937 shares in the company, valued at $3,861,385.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dale Craig Kesler sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $266.76, for a total value of $1,333,800.00. Following the transaction, the chief financial officer now owns 60,488 shares in the company, valued at approximately $16,135,778.88. 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. Corporate 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.