Geode Capital Management LLC lifted its stake in Eagle Materials Inc. (NYSE:EXP - Free Report) by 3.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 707,607 shares of the construction company's stock after purchasing an additional 23,911 shares during the period. Geode Capital Management LLC owned 2.11% of Eagle Materials worth $203,585,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. CIBC Asset Management Inc lifted its holdings in Eagle Materials by 3.7% during the third quarter. CIBC Asset Management Inc now owns 1,032 shares of the construction company's stock valued at $297,000 after purchasing an additional 37 shares in the last quarter. Financial Strategies Group Inc. raised its position in shares of Eagle Materials by 4.4% during the 3rd 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 lifted its stake in shares of Eagle Materials by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 9,644 shares of the construction company's stock valued at $2,097,000 after buying an additional 56 shares in the last quarter. National Bank of Canada FI boosted its holdings in Eagle Materials by 1.5% in the 3rd quarter. National Bank of Canada FI now owns 3,872 shares of the construction company's stock worth $1,114,000 after buying an additional 57 shares during the period. Finally, Trivant Custom Portfolio Group LLC increased its stake in Eagle Materials by 3.2% in the 3rd quarter. Trivant Custom Portfolio Group LLC now owns 2,585 shares of the construction company's stock worth $744,000 after buying an additional 79 shares in the last quarter. 96.07% of the stock is owned by institutional investors.
In other Eagle Materials news, CEO Michael Haack sold 11,888 shares of the firm's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $310.50, for a total value of $3,691,224.00. Following the completion of the sale, the chief executive officer now owns 85,811 shares of the company's stock, valued at $26,644,315.50. This trade represents a 12.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George John Damiris sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $277.62, for a total value of $277,620.00. Following the transaction, the director now directly owns 7,943 shares in the company, valued at approximately $2,205,135.66. This represents a 11.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,866 shares of company stock worth $5,482,931. 1.60% of the stock is currently owned by company insiders.
Eagle Materials stock opened at $273.32 on Monday. Eagle Materials Inc. has a 52-week low of $193.95 and a 52-week high of $321.93. The company has a quick ratio of 1.14, a current ratio of 2.34 and a debt-to-equity ratio of 0.74. The firm's fifty day moving average is $297.21 and its 200 day moving average is $263.42. The company has a market cap of $9.17 billion, a price-to-earnings ratio of 19.30 and a beta of 1.33.
Eagle Materials (NYSE:EXP - Get Free Report) last announced 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 analysts' expectations of $651.46 million. During the same quarter in the prior year, the company posted $4.28 earnings per share. The firm's quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts forecast that Eagle Materials Inc. will post 15.24 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 16th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Monday, December 16th. Eagle Materials's payout ratio is 7.06%.
Several equities analysts have recently commented on EXP shares. Truist Financial boosted their price objective on Eagle Materials from $320.00 to $330.00 and gave the company a "buy" rating in a research report on Monday, November 4th. The Goldman Sachs Group boosted their price target on Eagle Materials from $277.00 to $317.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Loop Capital lowered shares of Eagle Materials from a "buy" rating to a "hold" rating and set a $315.00 price objective for the company. in a report on Monday, November 25th. JPMorgan Chase & Co. boosted their target price on shares of Eagle Materials from $290.00 to $310.00 and gave the stock a "neutral" rating in a report on Wednesday, November 27th. Finally, Jefferies Financial Group raised their target price on shares of Eagle Materials from $309.00 to $330.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $307.11.
View Our Latest Analysis on 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.
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