Handelsbanken Fonder AB Purchases 56,900 Shares of Eagle Materials Inc. (NYSE:EXP)

Handelsbanken Fonder AB boosted its position in Eagle Materials Inc. (NYSE:EXP) by 24.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 293,730 shares of the construction company’s stock after purchasing an additional 56,900 shares during the period. Handelsbanken Fonder AB owned about 0.87% of Eagle Materials worth $84,491,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Eagle Bay Advisors LLC raised its holdings in 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 purchasing an additional 42 shares during the period. Wealthcare Advisory Partners LLC raised its stake in shares of Eagle Materials by 3.7% in the first quarter. Wealthcare Advisory Partners LLC now owns 1,277 shares of the construction company’s stock worth $347,000 after buying an additional 45 shares during the period. GAMMA Investing LLC lifted its position in shares of Eagle Materials by 16.5% during 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 in the last quarter. Arizona State Retirement System grew its stake in shares of Eagle Materials by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 9,644 shares of the construction company’s stock valued at $2,097,000 after acquiring 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 worth $31,000 after acquiring an additional 65 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors.

Eagle Materials Price Performance

NYSE EXP traded down $2.21 during trading on Friday, hitting $282.78. 196,445 shares of the stock traded hands, compared to its average volume of 312,237. The company has a quick ratio of 1.17, a current ratio of 2.45 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. The firm has a 50-day simple moving average of $261.62 and a 200-day simple moving average of $249.31. The company has a market capitalization of $9.57 billion, a P/E ratio of 20.76 and a beta of 1.32.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $3.94 earnings per share 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 company had revenue of $608.69 million for the quarter, compared to analysts’ expectations of $622.06 million. During the same quarter in the previous year, the business posted $3.55 earnings per share. Eagle Materials’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, analysts predict that Eagle Materials Inc. will post 15.9 EPS for the current year.

Eagle Materials Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EXP shares. Raymond James cut shares of Eagle Materials from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Jefferies Financial Group boosted their price objective on Eagle Materials from $270.00 to $283.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Citigroup upped their price objective on 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 Eagle Materials from $280.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $289.78.

Insider Activity at Eagle Materials

In other Eagle Materials 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 transaction of $512,838.06. Following the sale, the insider now directly owns 13,937 shares of the company’s stock, valued at $3,861,385.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Eagle Materials news, insider Eric Cribbs sold 1,851 shares of Eagle Materials 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 completion of the transaction, the insider now directly owns 13,937 shares of the company’s stock, valued at $3,861,385.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George John Damiris sold 1,000 shares of the business’s stock in a transaction on 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 in the company, valued at $2,205,135.66. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,851 shares of company stock valued at $2,124,258. Insiders own 1.60% of the company’s stock.

Eagle Materials 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.