Eagle Materials Inc. (NYSE:EXP) Shares Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lifted its position in shares of Eagle Materials Inc. (NYSE:EXP) by 789.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 703 shares of the construction company’s stock after purchasing an additional 624 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Eagle Materials were worth $202,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in Eagle Materials by 132.7% in the 1st quarter. Bessemer Group Inc. now owns 114 shares of the construction company’s stock worth $31,000 after buying an additional 65 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Eagle Materials during the first quarter worth about $42,000. McClarren Financial Advisors Inc. lifted its stake in shares of Eagle Materials by 10,750.0% in the second quarter. McClarren Financial Advisors Inc. now owns 217 shares of the construction company’s stock worth $47,000 after acquiring an additional 215 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Eagle Materials in the third quarter valued at about $64,000. Finally, GAMMA Investing LLC grew its stake in Eagle Materials by 23.3% during the 2nd quarter. GAMMA Investing LLC now owns 471 shares of the construction company’s stock valued at $102,000 after purchasing an additional 89 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Citigroup increased their target price on Eagle Materials from $252.00 to $311.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Jefferies Financial Group increased their price objective on shares of Eagle Materials from $309.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Stephens boosted their target price on shares of Eagle Materials from $280.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Truist Financial increased their price target on shares of Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Loop Capital lowered Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price objective for the company. in a report on Monday. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Eagle Materials currently has a consensus rating of “Moderate Buy” and an average price target of $307.11.

Eagle Materials Stock Performance

Shares of NYSE EXP opened at $305.93 on Thursday. 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 firm’s 50-day moving average price is $295.08 and its two-hundred day moving average price is $259.32. Eagle Materials Inc. has a 52-week low of $177.67 and a 52-week high of $321.93. The stock has a market capitalization of $10.26 billion, a P/E ratio of 21.61 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 forecast that Eagle Materials Inc. will post 15.24 earnings per share for the current year.

Eagle Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 16th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.33%. Eagle Materials’s dividend payout ratio is currently 7.06%.

Insider Buying and Selling

In other news, CEO Michael Haack sold 11,888 shares of Eagle Materials stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $310.50, for a total transaction of $3,691,224.00. Following the sale, the chief executive officer now owns 85,811 shares of the company’s stock, valued at approximately $26,644,315.50. The trade was a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard Ross Stewart sold 3,577 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $300.30, for a total value of $1,074,173.10. Following the transaction, the director now owns 1,100 shares of the company’s stock, valued at approximately $330,330. This represents a 76.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,866 shares of company stock valued at $5,482,931 in the last quarter. Company insiders own 1.60% of the company’s stock.

About Eagle Materials

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.