Reinhart Partners LLC. Reduces Stock Position in Eagle Materials Inc. (NYSE:EXP)

Reinhart Partners LLC. reduced its holdings in shares of Eagle Materials Inc. (NYSE:EXP) by 7.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,160 shares of the construction company’s stock after selling 3,278 shares during the quarter. Reinhart Partners LLC. owned 0.11% of Eagle Materials worth $10,977,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Baupost Group LLC MA bought a new position in Eagle Materials during the 1st quarter valued at $71,199,000. Captrust Financial Advisors lifted its position in shares of Eagle Materials by 61.6% during the first quarter. Captrust Financial Advisors now owns 509,605 shares of the construction company’s stock worth $138,485,000 after purchasing an additional 194,342 shares during the last quarter. Jupiter Asset Management Ltd. grew its stake in Eagle Materials by 3,537.5% in the first quarter. Jupiter Asset Management Ltd. now owns 172,779 shares of the construction company’s stock worth $46,953,000 after purchasing an additional 168,029 shares in the last quarter. Epoch Investment Partners Inc. increased its holdings in Eagle Materials by 25.2% in the second quarter. Epoch Investment Partners Inc. now owns 805,257 shares of the construction company’s stock valued at $175,111,000 after buying an additional 162,049 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in Eagle Materials by 33.4% during the second quarter. Federated Hermes Inc. now owns 529,701 shares of the construction company’s stock valued at $115,189,000 after buying an additional 132,677 shares in the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on EXP. JPMorgan Chase & Co. lifted 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. Stephens boosted their target price 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 stock a “buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group boosted their price objective on shares of Eagle Materials from $309.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Raymond James cut shares of Eagle Materials from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $297.78.

Eagle Materials Stock Performance

EXP opened at $291.95 on Friday. Eagle Materials Inc. has a twelve month low of $145.03 and a twelve month high of $295.34. The stock has a market cap of $9.88 billion, a PE ratio of 21.44 and a beta of 1.32. The business’s 50 day moving average is $264.53 and its 200-day moving average is $250.22. The company has a current ratio of 2.45, a quick ratio of 1.17 and a debt-to-equity ratio of 0.81.

Eagle Materials (NYSE:EXP) last released its quarterly 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 return on equity of 37.10% and a net margin of 21.65%. The company had revenue of $608.69 million during the quarter, compared to analysts’ expectations of $622.06 million. During the same quarter in the prior year, the business posted $3.55 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, analysts predict that Eagle Materials Inc. will post 15.9 earnings per share for the current year.

Eagle Materials Announces Dividend

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 given a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.34%. Eagle Materials’s dividend payout ratio (DPR) is 7.34%.

Insider Activity

In related news, insider Eric Cribbs sold 1,851 shares of the business’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 transaction of $512,838.06. Following the sale, the insider now owns 13,937 shares of the company’s stock, valued at $3,861,385.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Eric Cribbs sold 1,851 shares of the business’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 sale, the insider now directly owns 13,937 shares in the company, valued at $3,861,385.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Dale Craig Kesler sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $266.76, for a total transaction of $1,333,800.00. Following the sale, the chief financial officer now owns 60,488 shares of the company’s stock, valued at $16,135,778.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,851 shares of company stock worth $2,124,258 over the last three months. Corporate insiders own 1.60% of the company’s stock.

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.