Hodges Capital Management Lowers stake in Eagle Materials (EXP)

Eagle Materials (EXP) : Hodges Capital Management reduced its stake in Eagle Materials by 11.46% during the most recent quarter end. The investment management company now holds a total of 780,341 shares of Eagle Materials which is valued at $61.8 Million after selling 101,047 shares in Eagle Materials , the firm said in a disclosure report filed with the SEC on May 26, 2016.Eagle Materials makes up approximately 2.82% of Hodges Capital Management’s portfolio.

Other Hedge Funds, Including , Qcm Cayman Ltd. added EXP to its portfolio by purchasing 4,220 company shares during the most recent quarter which is valued at $319,412. Eagle Materials makes up approx 0.75% of Qcm Cayman Ltd.’s portfolio. Fil Ltd sold out all of its stake in EXP during the most recent quarter. The investment firm sold 219,546 shares of EXP which is valued $16.6 Million.Envestnet Asset Management Inc boosted its stake in EXP in the latest quarter, The investment management firm added 37,546 additional shares and now holds a total of 39,723 shares of Eagle Materials which is valued at $3 Million. Eagle Materials makes up approx 0.01% of Envestnet Asset Management Inc’s portfolio.Cubist Systematic Strategies reduced its stake in EXP by selling 7,750 shares or 71.21% in the most recent quarter. The Hedge Fund company now holds 3,134 shares of EXP which is valued at $237,212. Eagle Materials makes up approx 0.01% of Cubist Systematic Strategies’s portfolio. United Capital Financial Advisers added EXP to its portfolio by purchasing 38,068 company shares during the most recent quarter which is valued at $2.9 Million. Eagle Materials makes up approx 0.03% of United Capital Financial Advisers’s portfolio.

Eagle Materials opened for trading at $77.59 and hit $79.77 on the upside on Wednesday, eventually ending the session at $79.59, with a gain of 1.62% or 1.27 points. The heightened volatility saw the trading volume jump to 4,07,012 shares. Company has a market cap of $3,843 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.

Investors should note that on May 20, 2016, Eagle Materials announced a cash dividend of $0.1000. The company’s management has announced Jun 16, 2016 as the ex-dividend date and fixed the record date on Jun 20, 2016. The payable date has been fixed on Jul 22, 2016.

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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