Profund Advisors LLC Trims Stock Position in Eagle Materials, Inc. (NYSE:EXP)

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Profund Advisors LLC lessened its holdings in shares of Eagle Materials, Inc. (NYSE:EXP) by 12.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,836 shares of the construction company’s stock after selling 559 shares during the period. Profund Advisors LLC’s holdings in Eagle Materials were worth $356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of EXP. Penserra Capital Management LLC purchased a new position in shares of Eagle Materials during the first quarter worth $31,000. NN Investment Partners Holdings N.V. purchased a new position in shares of Eagle Materials during the second quarter worth $174,000. Coldstream Capital Management Inc. purchased a new position in shares of Eagle Materials during the first quarter worth $207,000. GAM Holding AG purchased a new position in shares of Eagle Materials during the second quarter worth $236,000. Finally, Advisory Services Network LLC raised its holdings in shares of Eagle Materials by 18.3% during the first quarter. Advisory Services Network LLC now owns 2,851 shares of the construction company’s stock worth $240,000 after purchasing an additional 441 shares during the last quarter.

In other news, Director Ed H. Bowman, Jr. sold 2,492 shares of Eagle Materials stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $84.52, for a total value of $210,623.84. Following the sale, the director now owns 16,386 shares in the company, valued at $1,384,944.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Keith W. Metcalf sold 10,980 shares of Eagle Materials stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $81.33, for a total transaction of $893,003.40. Following the completion of the sale, the insider now owns 58,087 shares in the company, valued at approximately $4,724,215.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,794 shares of company stock worth $4,724,987. 2.20% of the stock is owned by company insiders.

Several brokerages recently issued reports on EXP. Stifel Nicolaus set a $101.00 target price on shares of Eagle Materials and gave the stock a “buy” rating in a report on Wednesday, July 31st. Raymond James cut shares of Eagle Materials from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 31st. Jefferies Financial Group cut shares of Eagle Materials from a “buy” rating to a “hold” rating and reduced their target price for the stock from $106.00 to $92.00 in a report on Thursday, July 18th. Northcoast Research upgraded shares of Eagle Materials from a “sell” rating to a “neutral” rating in a research report on Friday. Finally, JPMorgan Chase & Co. dropped their price target on shares of Eagle Materials from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Eagle Materials presently has an average rating of “Hold” and an average target price of $93.88.

EXP stock remained flat at $$90.77 during midday trading on Friday. 1,009,207 shares of the company traded hands, compared to its average volume of 445,511. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 1.72 and a beta of 1.23. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.05 and a current ratio of 2.42. The company’s fifty day moving average is $83.93 and its two-hundred day moving average is $85.26. Eagle Materials, Inc. has a 52 week low of $57.00 and a 52 week high of $93.18.

Eagle Materials (NYSE:EXP) last released its quarterly earnings results on Tuesday, July 30th. The construction company reported $1.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by ($0.27). The firm had revenue of $370.60 million for the quarter, compared to analyst estimates of $376.95 million. Eagle Materials had a net margin of 3.20% and a return on equity of 17.21%. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.38 EPS. Sell-side analysts anticipate that Eagle Materials, Inc. will post 5.22 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $0.40 annualized dividend and a yield of 0.44%. Eagle Materials’s dividend payout ratio is presently 7.92%.

Eagle Materials Company Profile

Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials, light building materials, and materials used for oil and natural gas extraction in the United States. It operates in five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants.

Further Reading: Neutral Rating

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Institutional Ownership by Quarter for Eagle Materials (NYSE:EXP)

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