King Luther Capital Management Corp Has $10.05 Million Stake in Eagle Materials Inc. (NYSE:EXP)

King Luther Capital Management Corp increased its stake in shares of Eagle Materials Inc. (NYSE:EXP) by 8.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,207 shares of the construction company’s stock after buying an additional 3,603 shares during the quarter. King Luther Capital Management Corp’s holdings in Eagle Materials were worth $10,048,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bridges Investment Management Inc. bought a new position in shares of Eagle Materials in the second quarter valued at approximately $602,000. Davidson Capital Management Inc. boosted its position in Eagle Materials by 25.1% in the second quarter. Davidson Capital Management Inc. now owns 14,776 shares of the construction company’s stock worth $3,213,000 after purchasing an additional 2,965 shares during the last quarter. Intech Investment Management LLC bought a new position in Eagle Materials in the 2nd quarter valued at $673,000. Inspire Investing LLC increased its position in shares of Eagle Materials by 22.3% during the 2nd quarter. Inspire Investing LLC now owns 1,615 shares of the construction company’s stock valued at $351,000 after purchasing an additional 294 shares during the last quarter. Finally, MQS Management LLC purchased a new stake in shares of Eagle Materials during the 2nd quarter valued at $431,000. Institutional investors own 96.07% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on EXP. Stephens increased their price target on shares of Eagle Materials from $280.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Citigroup increased their target price on shares of Eagle Materials from $252.00 to $311.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group upped their price objective on Eagle Materials from $270.00 to $283.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. StockNews.com downgraded Eagle Materials from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Finally, Raymond James lowered Eagle Materials from a “moderate buy” rating to a “hold” 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $289.78.

Eagle Materials Price Performance

Shares of NYSE:EXP opened at $287.67 on Friday. The company has a 50 day moving average of $250.56 and a 200 day moving average of $246.93. The company has a current ratio of 2.45, a quick ratio of 1.17 and a debt-to-equity ratio of 0.81. The stock has a market cap of $9.74 billion, a P/E ratio of 21.12 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.

Eagle Materials (NYSE:EXP) last released its quarterly earnings results on Tuesday, July 30th. The construction company reported $3.94 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.37. Eagle Materials had a net margin of 21.65% and a return on equity of 37.10%. The firm had revenue of $608.69 million during the quarter, compared to analyst estimates of $622.06 million. During the same period in the previous year, the business earned $3.55 EPS. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that Eagle Materials Inc. will post 15.9 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The business 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. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.35%. Eagle Materials’s dividend payout ratio (DPR) is currently 7.34%.

Insider Activity

In related news, CFO Dale Craig Kesler sold 5,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 60,488 shares in the company, valued at approximately $16,135,778.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Eric Cribbs sold 1,851 shares of the firm’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 value of $512,838.06. Following the completion of the transaction, the insider now owns 13,937 shares in the company, valued at approximately $3,861,385.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Dale Craig Kesler sold 5,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 60,488 shares in the company, valued at $16,135,778.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,851 shares of company stock valued at $2,124,258. 1.60% of the stock is currently owned by company insiders.

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.