Wealth Effects LLC Decreases Stock Position in Eagle Materials Inc. (NYSE:EXP)

Wealth Effects LLC cut its holdings in Eagle Materials Inc. (NYSE:EXP) by 57.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,100 shares of the construction company’s stock after selling 2,800 shares during the quarter. Wealth Effects LLC’s holdings in Eagle Materials were worth $518,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in EXP. CIBC Asset Management Inc boosted its holdings in shares of Eagle Materials by 3.7% during the 3rd 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 last quarter. Coldstream Capital Management Inc. boosted its holdings in Eagle Materials by 1.4% in the third quarter. Coldstream Capital Management Inc. now owns 2,981 shares of the construction company’s stock worth $858,000 after purchasing an additional 41 shares during the last quarter. Financial Strategies Group Inc. grew its position in Eagle Materials by 4.4% in the 3rd quarter. Financial Strategies Group Inc. now owns 1,022 shares of the construction company’s stock worth $304,000 after purchasing an additional 43 shares during the period. National Bank of Canada FI raised its stake in Eagle Materials by 1.5% during the 3rd quarter. National Bank of Canada FI now owns 3,872 shares of the construction company’s stock valued at $1,114,000 after buying an additional 57 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Eagle Materials by 10.6% during the 4th quarter. GAMMA Investing LLC now owns 676 shares of the construction company’s stock valued at $167,000 after buying an additional 65 shares during the period. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Michael Haack sold 11,888 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were 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 $26,644,315.50. This represents a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard Ross Stewart sold 3,577 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $300.30, for a total transaction of $1,074,173.10. Following the completion of the sale, the director now owns 1,100 shares in the company, valued at approximately $330,330. This trade represents a 76.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,866 shares of company stock worth $5,205,311. 1.60% of the stock is owned by insiders.

Eagle Materials Trading Down 0.9 %

Shares of EXP stock opened at $259.67 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 2.34. The stock has a fifty day simple moving average of $268.70 and a two-hundred day simple moving average of $269.66. The firm has a market capitalization of $8.71 billion, a PE ratio of 18.34 and a beta of 1.37. Eagle Materials Inc. has a 52-week low of $211.44 and a 52-week high of $321.93.

Eagle Materials (NYSE:EXP) last issued its 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). Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. The business had revenue of $623.62 million for the quarter, compared to the consensus estimate of $651.46 million. During the same period last year, the business posted $4.28 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. On average, analysts predict that Eagle Materials Inc. will post 15.11 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Monday, December 16th. Eagle Materials’s dividend payout ratio (DPR) is presently 7.06%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Jefferies Financial Group cut Eagle Materials from a “buy” rating to a “hold” rating and reduced their price objective for the company from $330.00 to $310.00 in a research report on Monday, December 16th. Truist Financial upped their price target on shares of Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Loop Capital downgraded shares of Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price objective on the stock. in a report on Monday, November 25th. The Goldman Sachs Group increased their price target on shares of Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Eagle Materials from $290.00 to $310.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $300.89.

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.