Hourglass Capital LLC Cuts Stake in Eagle Materials Inc. (NYSE:EXP)

Hourglass Capital LLC lowered its stake in shares of Eagle Materials Inc. (NYSE:EXP) by 34.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,600 shares of the construction company’s stock after selling 1,898 shares during the period. Hourglass Capital LLC’s holdings in Eagle Materials were worth $783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of EXP. Eagle Bay Advisors LLC increased its holdings in Eagle Materials by 79.2% in the 1st quarter. Eagle Bay Advisors LLC now owns 95 shares of the construction company’s stock valued at $26,000 after acquiring an additional 42 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of Eagle Materials in the first quarter worth about $27,000. Tompkins Financial Corp bought a new position in Eagle Materials during the first quarter valued at approximately $27,000. Rise Advisors LLC purchased a new position in Eagle Materials during the 1st quarter valued at approximately $27,000. Finally, Bessemer Group Inc. increased its stake in Eagle Materials by 132.7% in the 1st quarter. Bessemer Group Inc. now owns 114 shares of the construction company’s stock worth $31,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Insider Buying and Selling

In other news, CFO Dale Craig Kesler sold 5,000 shares of the business’s 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 in the company, valued at approximately $16,135,778.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Eagle Materials news, insider Eric Cribbs sold 1,851 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 13,937 shares in the company, valued at $3,861,385.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $1,333,800.00. Following the sale, the chief financial officer now directly owns 60,488 shares of the company’s stock, valued at $16,135,778.88. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Eagle Materials Price Performance

Eagle Materials stock opened at $242.14 on Friday. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 17.50 and a beta of 1.32. The firm has a 50-day moving average of $240.73 and a two-hundred day moving average of $245.77. Eagle Materials Inc. has a 1 year low of $145.03 and a 1 year high of $279.69. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.45 and a quick ratio of 1.17.

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

Eagle Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Tuesday, September 17th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. Eagle Materials’s payout ratio is currently 7.34%.

Wall Street Analysts Forecast Growth

EXP has been the subject of a number of recent research reports. Raymond James lowered shares of Eagle Materials from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. Jefferies Financial Group lifted their price objective on shares of Eagle Materials from $270.00 to $283.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. 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 note on Thursday, August 1st. Loop Capital dropped their price target on shares of Eagle Materials from $310.00 to $305.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Finally, Stephens upped their price target on shares of Eagle Materials from $280.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $289.78.

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.