Lodge Hill Capital Lowers stake in Eagle Materials (EXP)

Eagle Materials (EXP) : Lodge Hill Capital reduced its stake in Eagle Materials by 8.95% during the most recent quarter end. The investment management company now holds a total of 559,800 shares of Eagle Materials which is valued at $45,965,178 after selling 55,000 shares in Eagle Materials , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Eagle Materials makes up approximately 7.48% of Lodge Hill Capital’s portfolio.

Other Hedge Funds, Including , Kortright Capital Partners Lp sold out all of its stake in EXP during the most recent quarter. The investment firm sold 62,500 shares of EXP which is valued $5,131,875.Wfg Advisors Lp boosted its stake in EXP in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 131 shares of Eagle Materials which is valued at $10,756.Cipher Capital Lp reduced its stake in EXP by selling 6,018 shares or 18.01% in the most recent quarter. The Hedge Fund company now holds 27,391 shares of EXP which is valued at $2,249,075. Eagle Materials makes up approx 0.15% of Cipher Capital Lp’s portfolio. Dekabank Deutsche Girozentrale added EXP to its portfolio by purchasing 10,061 company shares during the most recent quarter which is valued at $818,664. Eagle Materials makes up approx 0.01% of Dekabank Deutsche Girozentrale’s portfolio.Wall Street Access Asset Management reduced its stake in EXP by selling 5,954 shares or 7.08% in the most recent quarter. The Hedge Fund company now holds 78,148 shares of EXP which is valued at $6,416,732. Eagle Materials makes up approx 3.76% of Wall Street Access Asset Management’s portfolio.

Eagle Materials opened for trading at $83.09 and hit $84.49 on the upside on Monday, eventually ending the session at $83.64, with a gain of 1.11% or 0.92 points. The heightened volatility saw the trading volume jump to 5,25,982 shares. Company has a market cap of $4,035 M.

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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