Baupost Group LLC MA Purchases 158,171 Shares of Eagle Materials Inc. (NYSE:EXP)

Baupost Group LLC MA grew its position in shares of Eagle Materials Inc. (NYSE:EXP) by 46.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 500,273 shares of the construction company’s stock after purchasing an additional 158,171 shares during the quarter. Eagle Materials accounts for 4.1% of Baupost Group LLC MA’s holdings, making the stock its 10th largest holding. Baupost Group LLC MA’s holdings in Eagle Materials were worth $143,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently modified their holdings of the company. FMR LLC lifted its holdings in shares of Eagle Materials by 30.1% during the 3rd quarter. FMR LLC now owns 3,801,257 shares of the construction company’s stock worth $1,093,432,000 after acquiring an additional 878,400 shares during the period. Epoch Investment Partners Inc. lifted its holdings in shares of Eagle Materials by 25.2% during the 2nd quarter. Epoch Investment Partners Inc. now owns 805,257 shares of the construction company’s stock worth $175,111,000 after acquiring an additional 162,049 shares during the period. William Blair Investment Management LLC lifted its holdings in shares of Eagle Materials by 4.9% during the 2nd quarter. William Blair Investment Management LLC now owns 595,276 shares of the construction company’s stock worth $129,449,000 after acquiring an additional 28,003 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Eagle Materials by 33.4% during the 2nd quarter. Federated Hermes Inc. now owns 529,701 shares of the construction company’s stock worth $115,189,000 after acquiring an additional 132,677 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Eagle Materials by 1.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 351,258 shares of the construction company’s stock worth $95,455,000 after acquiring an additional 3,897 shares during the period. 96.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on EXP. Stephens raised their price target on shares of Eagle Materials from $280.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. The Goldman Sachs Group raised their price target on shares of Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group raised their price target on shares of Eagle Materials from $309.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Truist Financial lifted their price objective on shares of Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Eagle Materials from $270.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Eagle Materials currently has an average rating of “Moderate Buy” and a consensus price target of $304.89.

Eagle Materials Stock Down 1.7 %

EXP stock opened at $309.96 on Wednesday. Eagle Materials Inc. has a twelve month low of $177.67 and a twelve month high of $321.93. The company has a current ratio of 2.34, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $10.40 billion, a P/E ratio of 21.89 and a beta of 1.32. The firm has a 50 day simple moving average of $294.49 and a 200-day simple moving average of $259.03.

Eagle Materials (NYSE:EXP) last released its quarterly earnings results on Tuesday, October 29th. The construction company reported $4.31 earnings per share for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.44). Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. The company had revenue of $623.62 million for the quarter, compared to analyst estimates of $651.46 million. During the same period in the previous year, the business posted $4.28 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities research analysts predict that Eagle Materials Inc. will post 15.24 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The business 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend is Monday, December 16th. Eagle Materials’s payout ratio is currently 7.06%.

Insider Transactions at Eagle Materials

In other Eagle Materials news, SVP Tony Thompson sold 1,401 shares of Eagle Materials stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $314.00, for a total value 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. The trade was a 9.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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. This represents a 12.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,866 shares of company stock valued at $5,482,931. 1.60% of the stock is currently owned by corporate insiders.

Eagle Materials Company 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.