Victory Capital Management Inc. Cuts Stock Position in Eagle Materials Inc. (NYSE:EXP)

Victory Capital Management Inc. lessened its position in Eagle Materials Inc. (NYSE:EXP) by 4.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 145,070 shares of the construction company’s stock after selling 6,415 shares during the quarter. Victory Capital Management Inc.’s holdings in Eagle Materials were worth $41,729,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of EXP. Epoch Investment Partners Inc. increased its holdings in 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 purchasing an additional 162,049 shares during the period. William Blair Investment Management LLC increased its holdings in 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 purchasing an additional 28,003 shares during the period. Federated Hermes Inc. increased its holdings in 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 purchasing an additional 132,677 shares during the period. Captrust Financial Advisors increased its holdings in Eagle Materials by 61.6% during the 1st quarter. Captrust Financial Advisors now owns 509,605 shares of the construction company’s stock worth $138,485,000 after purchasing an additional 194,342 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in 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 purchasing an additional 3,897 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Insider Activity at Eagle Materials

In other Eagle Materials news, Director George John Damiris sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $277.62, for a total transaction of $277,620.00. Following the completion of the sale, the director now directly owns 7,943 shares of the company’s stock, valued at approximately $2,205,135.66. This trade represents a 11.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Tony Thompson sold 1,401 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly 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 disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Eagle Materials Stock Down 1.3 %

Shares of NYSE EXP opened at $301.67 on Friday. The stock has a market cap of $10.12 billion, a PE ratio of 21.30 and a beta of 1.32. The company has a quick ratio of 1.14, a current ratio of 2.34 and a debt-to-equity ratio of 0.74. Eagle Materials Inc. has a 52-week low of $172.20 and a 52-week high of $317.00. The business has a 50-day moving average price of $288.92 and a 200 day moving average price of $257.18.

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

Eagle Materials Dividend Announcement

The company also recently announced 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 is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.33%. Eagle Materials’s dividend payout ratio (DPR) is presently 7.06%.

Analysts Set New Price Targets

EXP has been the topic of several recent research reports. Stephens upped their price target on Eagle Materials from $280.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their price target on Eagle Materials from $270.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Jefferies Financial Group upped their price objective on Eagle Materials from $309.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group upped their price objective on Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Citigroup upped their price objective on Eagle Materials from $252.00 to $311.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $303.78.

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.