Fulton Bank N.A. Makes New Investment in Eagle Materials Inc. (NYSE:EXP)

by · The Markets Daily

Fulton Bank N.A. purchased a new position in Eagle Materials Inc. (NYSE:EXP – Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 708 shares of the construction company’s stock, valued at approximately $204,000.

Several other large investors also recently made changes to their positions in the stock. Virtu Financial LLC bought a new stake in shares of Eagle Materials during the 4th quarter worth $326,000. HighPoint Advisor Group LLC acquired a new stake in shares of Eagle Materials in the fourth quarter valued at about $287,000. NBC Securities Inc. increased its stake in shares of Eagle Materials by 3.3% in the first quarter. NBC Securities Inc. now owns 7,734 shares of the construction company’s stock worth $2,111,000 after purchasing an additional 248 shares during the period. Los Angeles Capital Management LLC lifted its position in shares of Eagle Materials by 2.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 255,775 shares of the construction company’s stock worth $69,507,000 after purchasing an additional 4,947 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Eagle Materials by 16.5% in the 1st quarter. GAMMA Investing LLC now owns 382 shares of the construction company’s stock valued at $104,000 after buying an additional 54 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on EXP shares. Raymond James downgraded shares of Eagle Materials from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Jefferies Financial Group boosted their price objective on shares of Eagle Materials from $309.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday. 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. Stephens boosted their price target on Eagle Materials from $280.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Eagle Materials from $270.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $297.78.

Get Our Latest Stock Analysis on Eagle Materials

Eagle Materials Stock Performance

Eagle Materials stock opened at $289.16 on Friday. Eagle Materials Inc. has a 52-week low of $145.03 and a 52-week high of $295.34. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.45 and a quick ratio of 1.17. The stock has a fifty day moving average price of $263.77 and a two-hundred day moving average price of $250.06. The firm has a market capitalization of $9.79 billion, a P/E ratio of 21.23 and a beta of 1.32.

Eagle Materials (NYSE:EXP – Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $3.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.37. The firm had revenue of $608.69 million during the quarter, compared to the consensus estimate of $622.06 million. Eagle Materials had a net margin of 21.65% and a return on equity of 37.10%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm posted $3.55 EPS. As a group, analysts anticipate that Eagle Materials Inc. will post 15.9 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Tuesday, September 17th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.35%. Eagle Materials’s dividend payout ratio is 7.34%.

Insider Buying and Selling at Eagle Materials

In other news, CFO Dale Craig Kesler sold 5,000 shares of the stock in a transaction 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 in the company, valued at approximately $16,135,778.88. This represents 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 accessible through this link. In related news, CFO Dale Craig Kesler sold 5,000 shares of the company’s 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 transaction, the chief financial officer now owns 60,488 shares in the company, valued at $16,135,778.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Cribbs sold 1,851 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $277.06, for a total transaction of $512,838.06. Following the completion of the transaction, the insider now directly owns 13,937 shares of the company’s stock, valued at approximately $3,861,385.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,851 shares of company stock worth $2,124,258. 1.60% of the stock is currently owned by insiders.

About Eagle Materials

(Free Report)

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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