Tectonic Advisors LLC Decreases Stake in Eagle Materials Inc. (NYSE:EXP)

Tectonic Advisors LLC cut its holdings in Eagle Materials Inc. (NYSE:EXP) by 14.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,432 shares of the construction company’s stock after selling 1,370 shares during the quarter. Tectonic Advisors LLC’s holdings in Eagle Materials were worth $2,425,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Ausbil Investment Management Ltd boosted its stake in shares of Eagle Materials by 400.3% in the third quarter. Ausbil Investment Management Ltd now owns 12,978 shares of the construction company’s stock valued at $3,733,000 after buying an additional 10,384 shares in the last quarter. RBA Wealth Management LLC boosted its stake in shares of Eagle Materials by 2.9% in the third quarter. RBA Wealth Management LLC now owns 21,677 shares of the construction company’s stock valued at $6,236,000 after buying an additional 611 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Eagle Materials in the third quarter valued at approximately $236,000. Foundations Investment Advisors LLC purchased a new stake in shares of Eagle Materials in the third quarter valued at approximately $217,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in Eagle Materials by 3.4% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 35,230 shares of the construction company’s stock worth $10,133,000 after purchasing an additional 1,171 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Stephens boosted their target price on Eagle Materials from $280.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. boosted their target price on Eagle Materials from $270.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Raymond James downgraded Eagle Materials from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Jefferies Financial Group boosted their target price on Eagle Materials from $309.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Citigroup boosted their target price on Eagle Materials from $252.00 to $311.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $297.78.

Eagle Materials Stock Performance

NYSE EXP opened at $289.54 on Friday. Eagle Materials Inc. has a fifty-two week low of $145.03 and a fifty-two week high of $306.36. The stock has a market cap of $9.80 billion, a price-to-earnings ratio of 21.26 and a beta of 1.32. The business has a fifty day moving average of $273.90 and a 200-day moving average of $251.99. The company has a quick ratio of 1.17, a current ratio of 2.45 and a debt-to-equity ratio of 0.81.

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

Eagle Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Tuesday, September 17th were paid a $0.25 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $1.00 annualized dividend and a yield of 0.35%. Eagle Materials’s payout ratio is currently 7.34%.

Insider Activity at Eagle Materials

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 value of $277,620.00. Following the completion of the transaction, the director now directly owns 7,943 shares in the company, valued at approximately $2,205,135.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Eagle Materials news, Director George John Damiris sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was 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 directly owns 7,943 shares in the company, valued at $2,205,135.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 owns 60,488 shares of the company’s stock, valued at approximately $16,135,778.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,851 shares of company stock worth $2,124,258. 1.60% of the stock is currently owned by insiders.

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.