Gates Capital Management buys $133,538,855 stake in Eagle Materials (EXP)

Eagle Materials (EXP) : Gates Capital Management scooped up 507,930 additional shares in Eagle Materials during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 1,390,740 shares of Eagle Materials which is valued at $133,538,855.Eagle Materials makes up approximately 7.04% of Gates Capital Management’s portfolio.

Other Hedge Funds, Including , Royce Associates Lp boosted its stake in EXP in the latest quarter, The investment management firm added 49,000 additional shares and now holds a total of 84,000 shares of Eagle Materials which is valued at $8,065,680. Eagle Materials makes up approx 0.05% of Royce Associates Lp’s portfolio.Finemark National Bank Trust boosted its stake in EXP in the latest quarter, The investment management firm added 31 additional shares and now holds a total of 134 shares of Eagle Materials which is valued at $12,780.Sg Americas Securities reduced its stake in EXP by selling 12,743 shares or 18.27% in the most recent quarter. The Hedge Fund company now holds 57,014 shares of EXP which is valued at $4,800,579. Eagle Materials makes up approx 0.06% of Sg Americas Securities’s portfolio.Retirement Systems Of Alabama reduced its stake in EXP by selling 117 shares or 0.19% in the most recent quarter. The Hedge Fund company now holds 62,164 shares of EXP which is valued at $5,101,799. Eagle Materials makes up approx 0.03% of Retirement Systems Of Alabama’s portfolio. Quantbot Technologies Lp sold out all of its stake in EXP during the most recent quarter. The investment firm sold 1,905 shares of EXP which is valued $157,867.

Eagle Materials closed down -0.55 points or -0.59% at $92.34 with 8,69,096 shares getting traded on Monday. Post opening the session at $92.74, the shares hit an intraday low of $91.3 and an intraday high of $93.2 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Eagle Materials reported $1.25 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Oct 24, 2016. Analyst had a consensus of $1.28. The company had revenue of $332.70 million for the quarter, compared to analysts expectations of $345.34 million. The company’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 EPS.

Investors should note that on Nov 15, 2016, Eagle Materials announced a cash dividend of $0.1000. The company’s management has announced Dec 21, 2016 as the ex-dividend date and fixed the record date on Dec 23, 2016. The payable date has been fixed on Jan 20, 2017.

Many Wall Street Analysts have commented on Eagle Materials. Eagle Materials was Downgraded by Standpoint Research to ” Hold” on Nov 9, 2016. Eagle Materials was Upgraded by Standpoint Research to ” Buy” on Oct 4, 2016. Eagle Materials was Upgraded by CL King to ” Buy” on Oct 4, 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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