Hsbc Holdings PLC Trims Stock Position in Eagle Materials Inc. (NYSE:EXP)

Hsbc Holdings PLC decreased its position in Eagle Materials Inc. (NYSE:EXP) by 66.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,260 shares of the construction company’s stock after selling 4,473 shares during the period. Hsbc Holdings PLC’s holdings in Eagle Materials were worth $491,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in EXP. Eagle Bay Advisors LLC lifted its holdings 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 acquiring an additional 42 shares during the last quarter. Wealthcare Advisory Partners LLC raised its position in 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 purchasing an additional 45 shares during the period. GAMMA Investing LLC lifted its stake in shares of Eagle Materials by 16.5% in the 1st quarter. GAMMA Investing LLC now owns 382 shares of the construction company’s stock valued at $104,000 after purchasing an additional 54 shares during the last quarter. Arizona State Retirement System grew its holdings 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 worth $2,097,000 after purchasing an additional 56 shares during the period. Finally, Bessemer Group Inc. increased its position in shares of Eagle Materials by 132.7% during the 1st quarter. Bessemer Group Inc. now owns 114 shares of the construction company’s stock worth $31,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

Insider Activity

In related news, Director George John Damiris sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was 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 of the company’s stock, valued at $2,205,135.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the chief financial officer now owns 60,488 shares in the company, valued at approximately $16,135,778.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George John Damiris sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $277.62, for a total transaction of $277,620.00. Following the completion of the sale, the director now owns 7,943 shares of the company’s stock, valued at approximately $2,205,135.66. The disclosure for this sale can be found here. Insiders sold 7,851 shares of company stock valued at $2,124,258 in the last three months. 1.60% of the stock is currently owned by company insiders.

Eagle Materials Stock Performance

Shares of EXP opened at $287.76 on Tuesday. The stock has a market capitalization of $9.74 billion, a P/E ratio of 21.13 and a beta of 1.32. 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 1 year low of $145.03 and a 1 year high of $293.00. The company’s fifty day moving average is $257.93 and its two-hundred day moving average is $248.36.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings results on Tuesday, July 30th. The construction company reported $3.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.57 by $0.37. The business 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 business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $3.55 earnings per share. On average, sell-side analysts predict that Eagle Materials Inc. will post 15.9 earnings per share 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 paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Tuesday, September 17th. Eagle Materials’s dividend payout ratio (DPR) is 7.34%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Stephens lifted their target price on shares of Eagle Materials from $280.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Citigroup raised their target price 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. 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 upped their target price on shares of Eagle Materials from $270.00 to $283.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Eagle Materials presently has an average rating of “Moderate Buy” and an average price target of $289.78.

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.