Eagle Materials Inc $EXP Shares Sold by Reinhart Partners LLC.

Key Points

• Reinhart Partners LLC has reduced its stake in Eagle Materials Inc by 5.9%, now holding 37,190 shares worth approximately $7.52 million.
• Despite the stake reduction, other institutional investors have increased their positions, with D. E. Shaw & Co. raising theirs by 106.6% in the last quarter.
• Analysts remain cautiously optimistic, with a consensus target price of $254.78 and various ratings ranging from "buy" to "hold" on Eagle Materials stock.

Reinhart Partners LLC. trimmed its stake in Eagle Materials Inc (NYSE:EXP - Free Report) by 5.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,190 shares of the construction company's stock after selling 2,330 shares during the period. Reinhart Partners LLC. owned about 0.11% of Eagle Materials worth $7,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently modified their holdings of the company. Transce3nd LLC raised its stake in Eagle Materials by 9.7% in the 1st quarter. Transce3nd LLC now owns 552 shares of the construction company's stock worth $122,000 after acquiring an additional 49 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Eagle Materials by 26.8% in the first quarter. Parallel Advisors LLC now owns 246 shares of the construction company's stock worth $55,000 after acquiring an additional 52 shares during the period. State of Alaska Department of Revenue lifted its position in Eagle Materials by 0.4% during the first quarter. State of Alaska Department of Revenue now owns 17,433 shares of the construction company's stock valued at $3,868,000 after purchasing an additional 75 shares during the period. Balefire LLC grew its holdings in Eagle Materials by 4.6% during the second quarter. Balefire LLC now owns 1,734 shares of the construction company's stock worth $350,000 after acquiring an additional 76 shares during the period. Finally, HighPoint Advisor Group LLC lifted its stake in shares of Eagle Materials by 3.8% in the 1st quarter. HighPoint Advisor Group LLC now owns 2,110 shares of the construction company's stock valued at $468,000 after purchasing an additional 77 shares during the period. Hedge funds and other institutional investors own 96.07% of the company's stock.

Eagle Materials Trading Down 2.2%

Shares of EXP stock traded down $5.18 during trading hours on Friday, hitting $231.05. The company had a trading volume of 793,971 shares, compared to its average volume of 327,843. The company's fifty day moving average is $228.00 and its 200 day moving average is $220.16. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.73 and a quick ratio of 1.26. Eagle Materials Inc has a fifty-two week low of $191.91 and a fifty-two week high of $321.93. The stock has a market capitalization of $7.50 billion, a PE ratio of 17.01 and a beta of 1.28.

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

Eagle Materials Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently commented on EXP. JPMorgan Chase & Co. raised their target price on Eagle Materials from $220.00 to $245.00 and gave the company a "neutral" rating in a research report on Tuesday, August 26th. Loop Capital raised their price objective on Eagle Materials from $230.00 to $245.00 and gave the company a "hold" rating in a report on Wednesday, July 30th. Wall Street Zen upgraded Eagle Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Citigroup cut their price target on shares of Eagle Materials from $279.00 to $230.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $254.78.

About Eagle Materials

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.