Raymond James & Associates Sells 5,428 Shares of Eagle Materials Inc. (NYSE:EXP)

Raymond James & Associates decreased its stake in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) by 7.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,264 shares of the construction company's stock after selling 5,428 shares during the quarter. Raymond James & Associates owned about 0.19% of Eagle Materials worth $18,773,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Eagle Bay Advisors LLC grew its holdings in Eagle Materials by 79.2% during the first quarter. Eagle Bay Advisors LLC now owns 95 shares of the construction company's stock worth $26,000 after purchasing an additional 42 shares during the period. Wealthcare Advisory Partners LLC increased its position in Eagle Materials by 3.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 1,277 shares of the construction company's stock worth $347,000 after acquiring an additional 45 shares during the period. Arizona State Retirement System raised its stake in Eagle Materials by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 9,644 shares of the construction company's stock worth $2,097,000 after purchasing an additional 56 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Eagle Materials by 132.7% in the 1st quarter. Bessemer Group Inc. now owns 114 shares of the construction company's stock valued at $31,000 after purchasing an additional 65 shares during the period. Finally, Trivant Custom Portfolio Group LLC increased its holdings in shares of Eagle Materials by 3.2% during the third quarter. Trivant Custom Portfolio Group LLC now owns 2,585 shares of the construction company's stock worth $744,000 after purchasing an additional 79 shares during the period. Institutional investors own 96.07% of the company's stock.

Eagle Materials Trading Down 0.4 %

Shares of EXP traded down $1.29 during mid-day trading on Friday, reaching $288.16. 223,110 shares of the company were exchanged, compared to its average volume of 306,963. The business has a 50 day simple moving average of $274.72 and a two-hundred day simple moving average of $252.09. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.17 and a current ratio of 2.45. The stock has a market capitalization of $9.76 billion, a PE ratio of 21.16 and a beta of 1.32. Eagle Materials Inc. has a 52 week low of $145.03 and a 52 week high of $306.36.

Eagle Materials (NYSE:EXP - Get Free Report) last released its quarterly earnings results 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. Eagle Materials had a net margin of 21.65% and a return on equity of 37.10%. The firm had revenue of $608.69 million during the quarter, compared to analyst estimates of $622.06 million. During the same quarter last year, the business earned $3.55 EPS. The company's revenue was up 1.2% compared to the same quarter last year. On average, analysts predict that Eagle Materials Inc. will post 15.9 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Tuesday, September 17th were given a dividend of $0.25 per share. The ex-dividend date was 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 (DPR) is currently 7.34%.

Insiders Place Their Bets

In other news, CFO Dale Craig Kesler sold 5,000 shares of the business's stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $266.76, for a total value of $1,333,800.00. Following the transaction, the chief financial officer now directly owns 60,488 shares of the company's stock, valued at $16,135,778.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Eric Cribbs sold 1,851 shares of the company's stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $277.06, for a total transaction of $512,838.06. Following the transaction, the insider now owns 13,937 shares in the company, valued at approximately $3,861,385.22. 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. Also, CFO Dale Craig Kesler sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $266.76, for a total value of $1,333,800.00. Following the transaction, the chief financial officer now directly owns 60,488 shares in the company, valued at approximately $16,135,778.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,851 shares of company stock worth $2,124,258. Company insiders own 1.60% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on EXP. JPMorgan Chase & Co. increased their price objective on shares of Eagle Materials from $270.00 to $290.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. Citigroup boosted their price objective on shares of Eagle Materials from $252.00 to $311.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Jefferies Financial Group raised their target price on Eagle Materials from $309.00 to $330.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Raymond James cut Eagle Materials from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 17th. Finally, Stephens raised their price objective on Eagle Materials from $280.00 to $315.00 and gave the company an "overweight" rating in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $297.78.

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.