Van ECK Associates Corp Raises Position in Eagle Materials Inc. (NYSE:EXP)

Van ECK Associates Corp boosted its holdings in Eagle Materials Inc. (NYSE:EXP) by 11.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,061 shares of the construction company’s stock after buying an additional 1,676 shares during the period. Van ECK Associates Corp’s holdings in Eagle Materials were worth $3,493,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Commonwealth Equity Services LLC grew its stake in Eagle Materials by 7.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,717 shares of the construction company’s stock valued at $591,000 after buying an additional 180 shares in the last quarter. Pinnacle Wealth Management LLC purchased a new position in Eagle Materials in the 2nd quarter valued at approximately $1,300,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Eagle Materials by 12.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,284 shares of the construction company’s stock valued at $1,584,000 after buying an additional 800 shares in the last quarter. Banco Santander S.A. purchased a new position in Eagle Materials in the 2nd quarter valued at approximately $551,000. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in Eagle Materials by 14.5% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 34,059 shares of the construction company’s stock valued at $7,406,000 after buying an additional 4,314 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Eagle Materials news, insider Eric Cribbs sold 1,851 shares of the business’s stock in a transaction dated 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 $3,861,385.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Dale Craig Kesler sold 5,000 shares of the business’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 in the company, valued at $16,135,778.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Eric Cribbs sold 1,851 shares of the business’s stock in a transaction dated 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. 1.60% of the stock is currently owned by insiders.

Eagle Materials Stock Performance

Eagle Materials stock opened at $241.13 on Thursday. The company has a quick ratio of 1.17, a current ratio of 2.45 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $8.16 billion, a PE ratio of 17.70 and a beta of 1.32. The firm has a fifty day simple moving average of $240.26 and a two-hundred day simple moving average of $245.82. Eagle Materials Inc. has a twelve month low of $145.03 and a twelve month high of $279.69.

Eagle Materials (NYSE:EXP) last posted 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. The business had revenue of $608.69 million during the quarter, compared to the consensus estimate 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 for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $3.55 earnings per share. Research analysts expect that Eagle Materials Inc. will post 15.9 EPS for the current year.

Eagle Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Tuesday, September 17th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Tuesday, September 17th. Eagle Materials’s dividend payout ratio is presently 7.34%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Stephens lifted their price objective on shares of Eagle Materials from $280.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Citigroup raised their price target 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 downgraded shares of Eagle Materials from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Loop Capital cut their price target on shares of Eagle Materials from $310.00 to $305.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Finally, Stifel Nicolaus cut their price target on shares of Eagle Materials from $300.00 to $286.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Eagle Materials presently has a consensus rating of “Moderate Buy” and a consensus target price 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.