The Manufacturers Life Insurance Company Reduces Position in Eagle Materials Inc. (NYSE:EXP)

The Manufacturers Life Insurance Company lowered its stake in Eagle Materials Inc. (NYSE:EXP) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,280 shares of the construction company’s stock after selling 669 shares during the period. The Manufacturers Life Insurance Company owned 0.09% of Eagle Materials worth $6,367,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Eagle Bay Advisors LLC lifted its position in Eagle Materials by 79.2% during 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 during the period. YHB Investment Advisors Inc. acquired a new stake in shares of Eagle Materials during the first quarter worth about $27,000. Tompkins Financial Corp purchased a new stake in Eagle Materials in the first quarter valued at approximately $27,000. Rise Advisors LLC acquired a new position in Eagle Materials in the 1st quarter worth approximately $27,000. 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 buying an additional 65 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Dale Craig Kesler sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 $16,135,778.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Dale Craig Kesler sold 5,000 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 60,488 shares in the company, valued at $16,135,778.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Cribbs sold 1,851 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was 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 $3,861,385.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,851 shares of company stock worth $2,124,258. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Eagle Materials Stock Down 0.8 %

Shares of EXP opened at $282.78 on Friday. The firm has a market cap of $9.57 billion, a P/E ratio of 20.76 and a beta of 1.32. Eagle Materials Inc. has a 12 month low of $145.03 and a 12 month high of $293.00. The stock’s 50 day moving average is $261.62 and its two-hundred day moving average is $249.31. 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 (NYSE:EXP) last issued its quarterly 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. 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 revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.55 EPS. Analysts predict that Eagle Materials Inc. will post 15.9 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The company also recently disclosed 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 payout ratio is 7.34%.

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.