Eagle Materials Inc. (NYSE:EXP) Shares Sold by Algert Global LLC

Algert Global LLC lowered its holdings in Eagle Materials Inc. (NYSE:EXP) by 29.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,696 shares of the construction company’s stock after selling 12,615 shares during the period. Algert Global LLC’s holdings in Eagle Materials were worth $8,830,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in EXP. Price T Rowe Associates Inc. MD grew its position in Eagle Materials by 1.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 351,258 shares of the construction company’s stock valued at $95,455,000 after acquiring an additional 3,897 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Eagle Materials by 481.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,315 shares of the construction company’s stock valued at $1,808,000 after purchasing an additional 6,885 shares during the period. Ausbil Investment Management Ltd grew its holdings in Eagle Materials by 400.3% during the 3rd quarter. Ausbil Investment Management Ltd now owns 12,978 shares of the construction company’s stock valued at $3,733,000 after purchasing an additional 10,384 shares in the last quarter. Comerica Bank lifted its holdings in Eagle Materials by 94.8% in the 1st quarter. Comerica Bank now owns 32,772 shares of the construction company’s stock worth $8,906,000 after buying an additional 15,949 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Eagle Materials by 441.1% in the 2nd quarter. SG Americas Securities LLC now owns 27,818 shares of the construction company’s stock valued at $6,049,000 after buying an additional 22,677 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Insider Buying and Selling at Eagle Materials

In related news, Director Richard Ross Stewart sold 3,577 shares of Eagle Materials stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $300.30, for a total transaction of $1,074,173.10. Following the sale, the director now directly owns 1,100 shares in the company, valued at $330,330. The trade was a 76.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tony Thompson sold 1,401 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $314.00, for a total transaction of $439,914.00. Following the completion of the transaction, the senior vice president now owns 13,212 shares of the company’s stock, valued at $4,148,568. This represents a 9.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,978 shares of company stock valued at $1,791,707 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Truist Financial lifted their target price on Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Jefferies Financial Group lifted their price objective on Eagle Materials from $309.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Stephens increased their target price on Eagle Materials from $280.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. The Goldman Sachs Group lifted their price target on shares of Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Citigroup increased their price objective on shares of Eagle Materials from $252.00 to $311.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Eagle Materials presently has an average rating of “Moderate Buy” and an average target price of $303.78.

Eagle Materials Price Performance

EXP opened at $314.40 on Friday. The company has a quick ratio of 1.14, a current ratio of 2.34 and a debt-to-equity ratio of 0.74. The company’s 50-day moving average price is $293.76 and its 200 day moving average price is $258.82. Eagle Materials Inc. has a fifty-two week low of $177.65 and a fifty-two week high of $317.00. The firm has a market cap of $10.54 billion, a price-to-earnings ratio of 22.20 and a beta of 1.32.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $4.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.75 by ($0.44). The company had revenue of $623.62 million during the quarter, compared to the consensus estimate of $651.46 million. Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the business posted $4.28 EPS. As a group, sell-side analysts expect that Eagle Materials Inc. will post 15.24 earnings per share for the current year.

Eagle Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 annualized dividend and a yield of 0.32%. Eagle Materials’s dividend payout ratio is presently 7.06%.

Eagle Materials Profile

Eagle Materials Inc, through its subsidiaries, manufactures and sells heavy construction materials and light building materials in the United States. It operates in four segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland cement, including Portland limestone cement; grinding and sale of slag; and mining of gypsum for the manufacture and sale of gypsum wallboards used to finish the interior walls and ceilings in residential, commercial, and industrial structures, as well as well as containerboard and lightweight packaging grades; manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and mining and sale of aggregates, such as crushed stone, sand, and gravel.