Premier Fund Managers Ltd Raises Holdings in Eagle Materials Inc. (NYSE:EXP)

Premier Fund Managers Ltd lifted its holdings in Eagle Materials Inc. (NYSE:EXP) by 17.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,380 shares of the construction company’s stock after buying an additional 3,200 shares during the quarter. Premier Fund Managers Ltd’s holdings in Eagle Materials were worth $6,129,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. CIBC Asset Management Inc lifted its holdings in Eagle Materials by 3.7% in the third quarter. CIBC Asset Management Inc now owns 1,032 shares of the construction company’s stock valued at $297,000 after acquiring an additional 37 shares during the period. Financial Strategies Group Inc. lifted its stake in shares of Eagle Materials by 4.4% in the third quarter. Financial Strategies Group Inc. now owns 1,022 shares of the construction company’s stock valued at $304,000 after purchasing an additional 43 shares during the period. Arizona State Retirement System boosted its holdings in Eagle Materials by 0.6% during the second quarter. Arizona State Retirement System now owns 9,644 shares of the construction company’s stock worth $2,097,000 after buying an additional 56 shares in the last quarter. Bessemer Group Inc. grew its position in Eagle Materials by 132.7% during the first quarter. Bessemer Group Inc. now owns 114 shares of the construction company’s stock worth $31,000 after buying an additional 65 shares during the period. Finally, Trivant Custom Portfolio Group LLC increased its holdings in Eagle Materials by 3.2% in the third quarter. Trivant Custom Portfolio Group LLC now owns 2,585 shares of the construction company’s stock valued at $744,000 after buying an additional 79 shares in the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on Eagle Materials from $270.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group upped their target price on Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Citigroup lifted their price target on Eagle Materials from $252.00 to $311.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Stephens increased their price objective on shares of Eagle Materials from $280.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Truist Financial raised their target price on shares of Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Eagle Materials has a consensus rating of “Moderate Buy” and an average price target of $303.78.

Eagle Materials Price Performance

Eagle Materials stock opened at $299.70 on Wednesday. The stock has a market capitalization of $10.05 billion, a P/E ratio of 21.17 and a beta of 1.32. Eagle Materials Inc. has a 12-month low of $173.05 and a 12-month high of $317.00. 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 firm’s 50-day moving average is $291.05 and its two-hundred day moving average is $257.84.

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 for the quarter, compared to analyst estimates of $651.46 million. Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $4.28 EPS. Equities analysts predict that Eagle Materials Inc. will post 15.24 earnings per share for the current year.

Eagle Materials Announces Dividend

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

Insider Activity at Eagle Materials

In other news, Director George John Damiris sold 1,000 shares of the company’s stock in a transaction 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 in the company, valued at $2,205,135.66. This represents a 11.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Tony Thompson sold 1,401 shares of the 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 completion of the transaction, the senior vice president now directly owns 13,212 shares in the company, valued at $4,148,568. This trade represents 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 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.