Amalgamated Bank Sells 1,941 Shares of Eagle Materials Inc. (NYSE:EXP)

Amalgamated Bank trimmed its position in Eagle Materials Inc. (NYSE:EXP) by 8.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 20,332 shares of the construction company’s stock after selling 1,941 shares during the quarter. Amalgamated Bank’s holdings in Eagle Materials were worth $4,421,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Eagle Bay Advisors LLC grew its holdings in Eagle Materials by 79.2% during the 1st 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 in the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of Eagle Materials during the 1st quarter worth approximately $27,000. Tompkins Financial Corp bought a new position in shares of Eagle Materials during the 1st quarter valued at approximately $27,000. Rise Advisors LLC purchased a new position in shares of Eagle Materials in the first quarter valued at $27,000. Finally, Bessemer Group Inc. grew its holdings 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 valued at $31,000 after purchasing an additional 65 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Materials Price Performance

Shares of EXP stock opened at $287.67 on Friday. Eagle Materials Inc. has a twelve month low of $145.03 and a twelve month high of $293.00. 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 fifty day simple moving average of $251.73 and a two-hundred day simple moving average of $247.08. The stock has a market capitalization of $9.74 billion, a price-to-earnings ratio of 21.12 and a beta of 1.32.

Eagle Materials (NYSE:EXP) last issued 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. Eagle Materials had a net margin of 21.65% and a return on equity of 37.10%. The company had revenue of $608.69 million for the quarter, compared to analysts’ expectations of $622.06 million. During the same period in the prior year, the business earned $3.55 EPS. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. On average, analysts predict that Eagle Materials Inc. will post 15.9 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Tuesday, September 17th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Tuesday, September 17th. Eagle Materials’s dividend payout ratio (DPR) is 7.34%.

Insiders Place Their Bets

In other news, Director George John Damiris sold 1,000 shares of Eagle Materials stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $277.62, for a total value of $277,620.00. Following the transaction, the director now directly owns 7,943 shares in the company, valued at approximately $2,205,135.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Eagle Materials news, insider Eric Cribbs sold 1,851 shares of the firm’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 value of $512,838.06. Following the completion of the sale, the insider now directly owns 13,937 shares in the company, valued at $3,861,385.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $277,620.00. Following the transaction, the director now directly owns 7,943 shares in the company, valued at $2,205,135.66. The disclosure for this sale can be found here. Insiders sold a total of 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 Ratings Changes

A number of equities analysts have commented on EXP shares. Citigroup lifted their price objective on shares of Eagle Materials from $252.00 to $311.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. StockNews.com cut Eagle Materials from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. 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 report on Wednesday, July 17th. Stephens lifted their target price on Eagle Materials from $280.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Raymond James downgraded Eagle Materials from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.