Latimer Light Capital Exits Position in Eagle Materials (EXP)

Eagle Materials (EXP) : Latimer Light Capital has sold out all of its stake in Eagle Materials during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 27,927 shares of Eagle Materials which is valued at $2,293,086.

Other Hedge Funds, Including , Susquehanna International Group Llp sold out all of its stake in EXP during the most recent quarter. The investment firm sold 9,419 shares of EXP which is valued $773,394.Nicholas Investment Partners Lp boosted its stake in EXP in the latest quarter, The investment management firm added 133,335 additional shares and now holds a total of 174,700 shares of Eagle Materials which is valued at $14,344,617. Eagle Materials makes up approx 1.23% of Nicholas Investment Partners Lp’s portfolio. Coe Capital Management sold out all of its stake in EXP during the most recent quarter. The investment firm sold 23,643 shares of EXP which is valued $1,941,327. Deimos Asset Management added EXP to its portfolio by purchasing 10,500 company shares during the most recent quarter which is valued at $862,155. Eagle Materials makes up approx 0.72% of Deimos Asset Management’s portfolio. Trexquant Investment Lp added EXP to its portfolio by purchasing 3,500 company shares during the most recent quarter which is valued at $287,385. Eagle Materials makes up approx 0.04% of Trexquant Investment Lp’s portfolio.

Eagle Materials closed down -0.56 points or -0.70% at $79.81 with 3,88,308 shares getting traded on Thursday. Post opening the session at $80.09, the shares hit an intraday low of $78.7 and an intraday high of $80.75 and the price fluctuated in this range throughout the day.Shares ended Thursday 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.

Investors should note that on Aug 8, 2016, Eagle Materials announced a cash dividend of $0.1000. The company’s management has announced Oct 5, 2016 as the ex-dividend date and fixed the record date on Oct 7, 2016. The payable date has been fixed on Nov 10, 2016.

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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