Eagle Materials, Inc. (NYSE:EXP) has experienced a decrease in enthusiasm from smart money recently.
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Keeping this in mind, it’s important to take a gander at the recent action encompassing Eagle Materials, Inc. (NYSE:EXP).
How have hedgies been trading Eagle Materials, Inc. (NYSE:EXP)?
Heading into 2013, a total of 25 of the hedge funds we track held long positions in this stock, a change of -11% from the third quarter. With hedge funds’ sentiment swirling, there exists a few notable hedge fund managers who were boosting their stakes considerably.
When looking at the hedgies we track, Donald Chiboucis’s Columbus Circle Investors had the largest position in Eagle Materials, Inc. (NYSE:EXP), worth close to $83 million, comprising 0.7% of its total 13F portfolio. On Columbus Circle Investors’s heels is Millennium Management, managed by Israel Englander, which held a $44 million position; the fund has 0.3% of its 13F portfolio invested in the stock. Other peers that hold long positions include SAC Subsidiary’s Sigma Capital Management, Sean Cullinan’s Point State Capital and Malcolm Fairbairn’s Ascend Capital.
Due to the fact that Eagle Materials, Inc. (NYSE:EXP) has witnessed declining sentiment from the entirety of the hedge funds we track, it’s easy to see that there lies a certain “tier” of hedge funds who were dropping their positions entirely in Q4. At the top of the heap, Jim Simons’s Renaissance Technologies dumped the largest position of all the hedgies we watch, worth about $17 million in stock.. Anand Parekh’s fund, Alyeska Investment Group, also dropped its stock, about $5 million worth. These transactions are interesting, as aggregate hedge fund interest was cut by 3 funds in Q4.
How have insiders been trading Eagle Materials, Inc. (NYSE:EXP)?
Insider buying is best served when the company we’re looking at has seen transactions within the past 180 days. Over the last 180-day time period, Eagle Materials, Inc. (NYSE:EXP) has seen 1 unique insiders purchasing, and 13 insider sales (see the details of insider trades here).
With the results shown by our time-tested strategies, everyday investors must always monitor hedge fund and insider trading activity, and Eagle Materials, Inc. (NYSE:EXP) is no exception.
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