Perigon Wealth Management LLC Grows Position in Eagle Materials Inc. (NYSE:EXP)

Perigon Wealth Management LLC increased its position in shares of Eagle Materials Inc. (NYSE:EXP) by 1.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,567 shares of the construction company’s stock after buying an additional 87 shares during the quarter. Perigon Wealth Management LLC’s holdings in Eagle Materials were worth $1,416,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in Eagle Materials during the 3rd quarter worth approximately $64,000. Quent Capital LLC grew its stake in Eagle Materials by 155.3% during the 3rd quarter. Quent Capital LLC now owns 434 shares of the construction company’s stock worth $125,000 after buying an additional 264 shares during the last quarter. GAMMA Investing LLC grew its stake in Eagle Materials by 10.6% during the 4th quarter. GAMMA Investing LLC now owns 676 shares of the construction company’s stock worth $167,000 after buying an additional 65 shares during the last quarter. Central Pacific Bank Trust Division grew its stake in Eagle Materials by 23.5% during the 3rd quarter. Central Pacific Bank Trust Division now owns 630 shares of the construction company’s stock worth $181,000 after buying an additional 120 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd grew its stake in Eagle Materials by 789.9% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 703 shares of the construction company’s stock worth $202,000 after buying an additional 624 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael Haack sold 11,888 shares of Eagle Materials stock in a transaction 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 completion of the transaction, the chief executive officer now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Tony Thompson sold 1,401 shares of Eagle Materials stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $314.00, for a total value of $439,914.00. Following the transaction, the senior vice president now directly owns 13,212 shares of the company’s stock, valued at approximately $4,148,568. This represents a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,866 shares of company stock valued at $5,205,311. 1.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Stephens dropped their price target on Eagle Materials from $325.00 to $310.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Loop Capital downgraded Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 target price on the stock. in a research note on Monday, November 25th. The Goldman Sachs Group lifted their target price on Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citigroup downgraded Eagle Materials from a “buy” rating to a “neutral” rating and lowered their target price for the company from $334.00 to $280.00 in a research note on Monday, January 6th. Finally, Jefferies Financial Group downgraded Eagle Materials from a “buy” rating to a “hold” rating and lowered their target price for the company from $330.00 to $310.00 in a research note on Monday, December 16th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Eagle Materials has an average rating of “Hold” and a consensus price target of $300.89.

Eagle Materials Stock Down 1.5 %

EXP opened at $254.51 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.34 and a quick ratio of 1.14. The business has a 50 day simple moving average of $266.95 and a 200-day simple moving average of $269.75. The stock has a market capitalization of $8.54 billion, a P/E ratio of 17.97 and a beta of 1.37. Eagle Materials Inc. has a 12 month low of $211.44 and a 12 month high of $321.93.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Wednesday, January 29th. The construction company reported $3.59 EPS for the quarter, missing the consensus estimate of $3.97 by ($0.38). Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. On average, equities analysts anticipate that Eagle Materials Inc. will post 15.11 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 16th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, December 16th. This represents a $1.00 annualized dividend and a yield of 0.39%. Eagle Materials’s dividend payout ratio is presently 7.06%.

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.