Park Avenue Securities LLC Sells 1,534 Shares of Eagle Materials Inc $EXP

Key Points

• Park Avenue Securities LLC reduced its stake in Eagle Materials Inc by 34.5%, selling 1,534 shares to hold a total of 2,917 shares worth approximately $590,000.
• Eagle Materials reported quarterly earnings of $3.76 per share, surpassing estimates, alongside a revenue of $634.69 million for the quarter.
• The company declared a quarterly dividend of $0.25 per share, scheduled for payment on October 16th, representing an annual yield of 0.4%.

Park Avenue Securities LLC lessened its holdings in Eagle Materials Inc (NYSE:EXP - Free Report) by 34.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,917 shares of the construction company's stock after selling 1,534 shares during the quarter. Park Avenue Securities LLC's holdings in Eagle Materials were worth $590,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in EXP. SVB Wealth LLC acquired a new position in Eagle Materials in the 1st quarter valued at $41,000. Parallel Advisors LLC grew its position in Eagle Materials by 26.8% in the 1st quarter. Parallel Advisors LLC now owns 246 shares of the construction company's stock valued at $55,000 after acquiring an additional 52 shares in the last quarter. Private Trust Co. NA grew its position in Eagle Materials by 39.0% in the 1st quarter. Private Trust Co. NA now owns 285 shares of the construction company's stock valued at $63,000 after acquiring an additional 80 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Eagle Materials by 486.6% in the 1st quarter. Assetmark Inc. now owns 393 shares of the construction company's stock valued at $87,000 after buying an additional 326 shares during the period. Finally, Signaturefd LLC lifted its stake in Eagle Materials by 39.1% during the first quarter. Signaturefd LLC now owns 466 shares of the construction company's stock worth $103,000 after purchasing an additional 131 shares during the last quarter. Institutional investors and hedge funds own 96.07% of the company's stock.

Eagle Materials Trading Up 2.2%

Shares of EXP opened at $232.75 on Monday. Eagle Materials Inc has a 12-month low of $191.91 and a 12-month high of $321.93. The company has a quick ratio of 1.26, a current ratio of 2.73 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $7.55 billion, a price-to-earnings ratio of 17.14 and a beta of 1.28. The stock's 50-day moving average price is $229.33 and its 200 day moving average price is $220.75.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The construction company reported $3.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.73 by $0.03. Eagle Materials had a return on equity of 31.21% and a net margin of 19.81%.The firm had revenue of $634.69 million for the quarter, compared to analyst estimates of $611.52 million. As a group, research analysts predict that Eagle Materials Inc will post 14.39 earnings per share for the current year.

Eagle Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Monday, September 15th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 15th. Eagle Materials's payout ratio is currently 7.36%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Eagle Materials from $220.00 to $245.00 and gave the company a "neutral" rating in a research note on Tuesday, August 26th. Wall Street Zen upgraded Eagle Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Loop Capital upped their price target on Eagle Materials from $230.00 to $245.00 and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $254.78.

Eagle Materials Company 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.

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