Artemis Investment Management LLP Buys 29,038 Shares of Eagle Materials Inc. (NYSE:EXP)

Artemis Investment Management LLP lifted its position in shares of Eagle Materials Inc. (NYSE:EXP) by 14.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 233,022 shares of the construction company’s stock after purchasing an additional 29,038 shares during the period. Eagle Materials comprises 1.0% of Artemis Investment Management LLP’s investment portfolio, making the stock its 27th largest holding. Artemis Investment Management LLP owned approximately 0.69% of Eagle Materials worth $67,029,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Eagle Bay Advisors LLC lifted its stake in Eagle Materials by 79.2% in the first quarter. Eagle Bay Advisors LLC now owns 95 shares of the construction company’s stock valued at $26,000 after buying an additional 42 shares during the period. Wealthcare Advisory Partners LLC grew its holdings 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 valued at $347,000 after acquiring an additional 45 shares in the last quarter. GAMMA Investing LLC increased its holdings in Eagle Materials by 16.5% during the first quarter. GAMMA Investing LLC now owns 382 shares of the construction company’s stock worth $104,000 after buying an additional 54 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Eagle Materials by 0.6% in the second 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 stake in shares of Eagle Materials by 132.7% in the first quarter. Bessemer Group Inc. now owns 114 shares of the construction company’s stock worth $31,000 after purchasing an additional 65 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Eagle Materials Stock Performance

NYSE:EXP opened at $288.61 on Wednesday. The stock has a 50-day simple moving average of $262.80 and a two-hundred day simple moving average of $249.48. 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. The firm has a market capitalization of $9.77 billion, a PE ratio of 21.19 and a beta of 1.32.

Eagle Materials (NYSE:EXP) last released its earnings results on Tuesday, July 30th. The construction company reported $3.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.37. The company had revenue of $608.69 million during 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 quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.55 EPS. Analysts forecast that Eagle Materials Inc. will post 15.9 EPS for the current year.

Eagle Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Tuesday, September 17th will be paid 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 dividend yield of 0.35%. Eagle Materials’s dividend payout ratio is presently 7.34%.

Insider Buying and Selling at Eagle Materials

In other Eagle Materials news, CFO Dale Craig Kesler sold 5,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 60,488 shares of the company’s stock, valued at approximately $16,135,778.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 shares were sold at an average price of $277.06, for a total transaction of $512,838.06. Following the sale, the insider now owns 13,937 shares of the company’s stock, valued at approximately $3,861,385.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Dale Craig Kesler sold 5,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 60,488 shares of the company’s stock, valued at approximately $16,135,778.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,851 shares of company stock worth $2,124,258 over the last 90 days. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EXP shares. Citigroup boosted their price objective on Eagle Materials from $252.00 to $311.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Jefferies Financial Group upped their target price on Eagle Materials from $270.00 to $283.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Raymond James cut Eagle Materials from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Stephens raised 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 research 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 stock presently has an average rating of “Moderate Buy” and an average target price 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.