SEC Watch Reporter: Ack Asset Management LLC Has Lowered Its Eagle Materials INC (EXP) Holding as Stock Value Declined

SEC Watch Reporter: Ack Asset Management LLC Has Lowered Its Eagle Materials INC (EXP) Holding as Stock Value Declined

Richard S. Meisenberg decreased its stake in Eagle Materials Inc (EXP) by 64.29% based on its latest 2016Q3 regulatory filing with the SEC. Ack Asset Management Llc sold 198,000 shares as the company’s stock declined 1.42% while stock markets rallied. The hedge fund run by Richard S. Meisenberg held 110,000 shares of the building materials company at the end of 2016Q3, valued at $8.50 million, down from 308,000 at the end of the previous reported quarter. Ack Asset Management Llc who had been investing in Eagle Materials Inc for a number of months, seems to be less bullish one the $4.76B market cap company. The stock is down 0.92% or $0.91 after the negative news, hitting $98.41 per share. About 134,333 shares traded hands. Eagle Materials, Inc. (NYSE:EXP) has risen 21.55% since June 7, 2016 and is uptrending. It has outperformed by 14.13% the S&P500.

Founder and manager of ACK Asset Management, Richard S. Meisenberg is a man who possesses a strategy that rests solely on three things: a wide outlook on the economy, a short/long policy and the eye for catalysts. Before forming an asset management company of his own in 2005, he was a former analyst focused on small – and mid – cap stocks at Oppenheimer & Co. and Smith Barney. He also became a founding partner of the Palisade Capital Management. As it happens, ACK Asset Management is not actually owned alone by Richard as he has John H. Reilly III as his main business partner. Ack Asset Management Llc is a New York-based hedge fund that was founded by Richard S. Meisenberg. It had more than $419.76 million assets under management in April, 2014. Taken from Ack Asset Management latest Adv, the fund reported to have 10 full and part-time employees. Among which 5 performing investment advisory and research functions. The hedge fund had between 1-10 clients.

Insitutional Activity: The institutional sentiment decreased to 1.11 in 2016 Q3. Its down 0.01, from 1.12 in 2016Q2. The ratio fall, as 37 funds sold all EXP shares owned while 75 reduced positions. 47 funds bought stakes while 77 increased positions. They now own 43.79 million shares or 1.01% more from 43.36 million shares in 2016Q2. First Quadrant Ltd Partnership Ca last reported 1,500 shares in the company. Tudor Investment Corporation Et Al, a Connecticut-based fund reported 80,626 shares. Zacks Investment Mngmt reported 53,702 shares or 0.12% of all its holdings. Raymond James Fincl Advsrs Incorporated has 11,666 shares for 0.01% of their US portfolio. Wfg Advsrs LP holds 0% of its portfolio in Eagle Materials, Inc. (NYSE:EXP) for 131 shares. The New York-based Knott David M has invested 0.01% in Eagle Materials, Inc. (NYSE:EXP). Hermes Inv Mngmt Ltd holds 0.72% of its portfolio in Eagle Materials, Inc. (NYSE:EXP) for 551,973 shares. Gemmer Asset Mngmt Ltd Liability Corporation holds 0.01% or 191 shares in its portfolio. First Mercantile Trust last reported 5,602 shares in the company. Leuthold Gru Ltd Liability Company holds 0.1% or 12,496 shares in its portfolio. The New York-based Springbok Cap Ltd Limited Liability Company has invested 0% in Eagle Materials, Inc. (NYSE:EXP). Advisers Limited Com holds 0.02% or 30,946 shares in its portfolio. Quantum Capital Mgmt holds 1.53% or 70,748 shares in its portfolio. Menta Capital Ltd Liability accumulated 0.21% or 27,866 shares. Blackrock holds 0% or 23,323 shares in its portfolio.

Insider Transactions: Since July 28, 2016, the stock had 0 insider purchases, and 16 insider sales for $16.34 million net activity. Devlin William R also sold $1.21 million worth of Eagle Materials, Inc. (NYSE:EXP) shares. $1.06 million worth of shares were sold by STEWART ROBERT S on Thursday, December 1. Shares for $500,000 were sold by Graass James H. ESSL GERALD J also sold $944,122 worth of Eagle Materials, Inc. (NYSE:EXP) on Friday, November 11. Kesler Dale Craig also sold $1.07 million worth of Eagle Materials, Inc. (NYSE:EXP) shares. BARNETT F WILLIAM sold $1.39M worth of stock. $1.62 million worth of shares were sold by NICOLAIS MICHAEL R on Friday, December 2.

Analysts await Eagle Materials, Inc. (NYSE:EXP) to report earnings on January, 26. They expect $1.12 earnings per share, up 21.74% or $0.20 from last year’s $0.92 per share. EXP’s profit will be $54.17M for 21.97 P/E if the $1.12 EPS becomes a reality. After $1.25 actual earnings per share reported by Eagle Materials, Inc. for the previous quarter, Wall Street now forecasts -10.40% negative EPS growth.

More notable recent Eagle Materials, Inc. (NYSE:EXP) news were published by: Businesswire.com which released: “Eagle Materials Schedules Third Quarter Fiscal 2017 Earnings Release and …” on January 10, 2017, also Fool.com with their article: “Eagle Materials, Inc. Earnings Double on Record Revenue” published on October 24, 2016, Fool.com published: “Eagle Materials, Inc. Earnings Are Cemented by Strong Volumes” on July 25, 2016. More interesting news about Eagle Materials, Inc. (NYSE:EXP) were released by: Nasdaq.com and their article: “Eagle Materials Inc (EXP) Ex-Dividend Date Scheduled for December 21, 2016” published on December 20, 2016 as well as Wsj.com‘s news article titled: “Cemex to Sell Ohio Assets to Eagle Materials” with publication date: September 12, 2016.

According to Zacks Investment Research, “Eagle Materials Inc. is a Dallas-based company that manufactures and distributes Cement, Gypsum Wallboard, Recycled Paperboard and Concrete and Aggregates.”

Eagle Materials, Inc. (NYSE:EXP) Ratings Coverage

Out of 8 analysts covering Eagle Materials (NYSE:EXP), 4 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 50% are positive. Eagle Materials has been the topic of 17 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Monday, March 28 by BB&T Capital. On Monday, April 18 the stock rating was maintained by Citigroup with “Buy”. CL King downgraded Eagle Materials, Inc. (NYSE:EXP) on Tuesday, July 26 to “Neutral” rating. CL King upgraded the stock to “Buy” rating in Tuesday, October 4 report. Stifel Nicolaus maintained it with “Buy” rating and $93 target price in Wednesday, August 5 report. The rating was maintained by Stifel Nicolaus on Friday, October 23 with “Buy”. Citigroup downgraded the stock to “Neutral” rating in Monday, December 5 report. The company was upgraded on Tuesday, October 4 by Standpoint Research. The stock of Eagle Materials, Inc. (NYSE:EXP) has “Neutral” rating given on Friday, November 20 by Goldman Sachs. The rating was initiated by Standpoint Research with “Accumulate” on Monday, March 28.

EXP Company Profile

Eagle Materials Inc., incorporated on January 27, 1994, is a supplier of construction products, building materials and materials used for oil and natural gas extraction. The Firm operates through five divisions: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants. The Company’s construction products are used in residential, industrial, commercial and infrastructure construction, and include cement, slag, concrete and aggregates. The Company’s building material include gypsum wallboard. The Company’s basic materials used for oil and natural gas extraction include frac sand and oil well cement. It sells cement in over six regional markets, including northern Nevada and California, the greater Chicago area, the Rocky Mountain region, the Central Plains region and Texas. It sells slag in the greater Chicago, Illinois area and the greater Midwest area. It has approximately three concrete and aggregates businesses. The Firm also operates a recycled paperboard business, which sells internally to its wallboard business, as well as to external customers. It sells oil well cement and frac sand to shale deposit zones across the United States.

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