Chesapeake Partners Management Co Incmd buys $45.7 Million stake in Eagle Materials (EXP)

Eagle Materials (EXP) : Chesapeake Partners Management Co Incmd scooped up 135,000 additional shares in Eagle Materials during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 602,125 shares of Eagle Materials which is valued at $45.7 Million.Eagle Materials makes up approximately 4.53% of Chesapeake Partners Management Co Incmd’s portfolio.

Other Hedge Funds, Including , Citadel Advisors reduced its stake in EXP by selling 573,203 shares or 97.18% in the most recent quarter. The Hedge Fund company now holds 16,613 shares of EXP which is valued at $1.3 Million.Victory Capital Management Inc reduced its stake in EXP by selling 67,808 shares or 8.32% in the most recent quarter. The Hedge Fund company now holds 747,595 shares of EXP which is valued at $56.8 Million. Eagle Materials makes up approx 0.24% of Victory Capital Management Inc’s portfolio.Thrivent Financial For Lutherans boosted its stake in EXP in the latest quarter, The investment management firm added 855 additional shares and now holds a total of 35,864 shares of Eagle Materials which is valued at $2.7 Million. Eagle Materials makes up approx 0.01% of Thrivent Financial For Lutherans’s portfolio. Ridgeworth Capital Management sold out all of its stake in EXP during the most recent quarter. The investment firm sold 125 shares of EXP which is valued $9,494.Blackrock Fund Advisors reduced its stake in EXP by selling 161,924 shares or 7.48% in the most recent quarter. The Hedge Fund company now holds 2,002,417 shares of EXP which is valued at $152.1 Million. Eagle Materials makes up approx 0.04% of Blackrock Fund Advisors’s portfolio.

Eagle Materials opened for trading at $78.24 and hit $78.92 on the upside on Wednesday, eventually ending the session at $78.19, with a gain of 0.70% or 0.54 points. The heightened volatility saw the trading volume jump to 5,38,777 shares. Company has a market cap of $3,856 M.

On the company’s financial health, Eagle Materials reported $0.80 EPS for the quarter, beating the analyst consensus estimate by $ 0.16 according to the earnings call on May 18, 2016. Analyst had a consensus of $0.64. The company had revenue of $252.10 million for the quarter, compared to analysts expectations of $225.98 million. The company’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS.

Many Wall Street Analysts have commented on Eagle Materials. BB&T Capital Mkts Upgraded Eagle Materials on Mar 28, 2016 to ” Buy”, Price Target of the shares are set at $80.Standpoint Research Initiated Eagle Materials on Mar 28, 2016 to “Accumulate”, Price Target of the shares are set at $91.

Eagle Materials Inc. manufactures and distributes gypsum wallboard and also manufactures and sells cement. Gypsum wallboard is distributed throughout the United States in the geographic markets nearest to its production facilities. The Company sells cement in six regional markets including northern Nevada and California the greater Chicago area the Rocky Mountain region the Central Plains region and Texas. Its gypsum wallboard business is supported by its recycled paperboard business while its cement business is supported by its concrete and aggregates business. The Company operates six cement plants five gypsum wallboard plants one recycled paperboard plant seventeen concrete batching plants four aggregates facilities and one frac sand processing and drying plant. The Company operates in two business segments: Cement and Concrete and Aggregates and Gypsum Wallboard and Recycled Paperboard.

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