First Dallas Securities Lowers stake in Eagle Materials (EXP)

Eagle Materials (EXP) : First Dallas Securities reduced its stake in Eagle Materials by 11.3% during the most recent quarter end. The investment management company now holds a total of 43,670 shares of Eagle Materials which is valued at $3,725,051 after selling 5,561 shares in Eagle Materials , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Eagle Materials makes up approximately 2.76% of First Dallas Securities’s portfolio.

Other Hedge Funds, Including , Diversified Trust Co reduced its stake in EXP by selling 6,020 shares or 48.22% in the most recent quarter. The Hedge Fund company now holds 6,465 shares of EXP which is valued at $551,465. Eagle Materials makes up approx 0.08% of Diversified Trust Co’s portfolio. Huntington National Bank sold out all of its stake in EXP during the most recent quarter. The investment firm sold 2,000 shares of EXP which is valued $170,600.Msi Financial Services Inc reduced its stake in EXP by selling 363 shares or 69.14% in the most recent quarter. The Hedge Fund company now holds 162 shares of EXP which is valued at $13,819.Curian Capital reduced its stake in EXP by selling 9,034 shares or 62.55% in the most recent quarter. The Hedge Fund company now holds 5,409 shares of EXP which is valued at $430,881. Eagle Materials makes up approx 0.03% of Curian Capital’s portfolio.

Eagle Materials closed down -1.05 points or -1.24% at $83.95 with 10,00,182 shares getting traded on Friday. Post opening the session at $84.95, the shares hit an intraday low of $81.85 and an intraday high of $84.95 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Eagle Materials reported $0.93 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 25, 2016. Analyst had a consensus of $0.85. The company had revenue of $297.50 million for the quarter, compared to analysts expectations of $296.34 million. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS.

Many Wall Street Analysts have commented on Eagle Materials. Company shares were Reiterated by DA Davidson on Jul 26, 2016 to “Buy”, Firm has raised the Price Target to $ 100 from a previous price target of $92 .Eagle Materials was Downgraded by CL King to ” Neutral” on Jul 26, 2016. Eagle Materials was Downgraded by Standpoint Research to ” Hold” on Jul 22, 2016.

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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