Highland Capital Management LLC Has $7.29 Million Holdings in Eagle Materials Inc. (NYSE:EXP)

Highland Capital Management LLC lowered its position in shares of Eagle Materials Inc. (NYSE:EXP) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,550 shares of the construction company’s stock after selling 650 shares during the quarter. Highland Capital Management LLC owned 0.09% of Eagle Materials worth $7,292,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in shares of Eagle Materials during the 3rd quarter worth $64,000. R Squared Ltd bought a new stake in shares of Eagle Materials during the 4th quarter worth $81,000. Quent Capital LLC boosted its holdings in shares of Eagle Materials by 155.3% during the 3rd quarter. Quent Capital LLC now owns 434 shares of the construction company’s stock worth $125,000 after buying an additional 264 shares during the period. GAMMA Investing LLC boosted 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 worth $167,000 after buying an additional 65 shares during the period. Finally, Central Pacific Bank Trust Division boosted its holdings in shares of Eagle Materials by 23.5% during the 3rd quarter. Central Pacific Bank Trust Division now owns 630 shares of the construction company’s stock worth $181,000 after buying an additional 120 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Analyst Upgrades and Downgrades

EXP has been the subject of several recent analyst reports. Citigroup downgraded shares of Eagle Materials from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $334.00 to $280.00 in a report on Monday, January 6th. Jefferies Financial Group downgraded shares of Eagle Materials from a “buy” rating to a “hold” rating and reduced their price target for the company from $330.00 to $310.00 in a report on Monday, December 16th. JPMorgan Chase & Co. increased their price target on shares of Eagle Materials from $290.00 to $310.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. The Goldman Sachs Group increased 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. Finally, Truist Financial increased their price target 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. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $300.89.

Insider Activity

In other news, CEO Michael Haack sold 11,888 shares of Eagle Materials stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 85,811 shares in the company, valued at $26,644,315.50. This trade 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 at the SEC website. Also, Director Richard Ross Stewart sold 3,577 shares of Eagle Materials stock in a transaction that occurred on Wednesday, November 20th. The shares were 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 $330,330. This trade represents a 76.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,866 shares of company stock valued at $5,205,311. 1.60% of the stock is currently owned by insiders.

Eagle Materials Trading Down 1.5 %

Shares of Eagle Materials stock opened at $254.51 on Thursday. The stock has a market capitalization of $8.54 billion, a P/E ratio of 17.97 and a beta of 1.37. 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 company has a 50-day simple moving average of $266.95 and a 200 day simple moving average of $269.75. Eagle Materials Inc. has a 12-month low of $211.44 and a 12-month high of $321.93.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Wednesday, January 29th. The construction company reported $3.59 earnings per share for the quarter, missing the consensus estimate of $3.97 by ($0.38). Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. Research analysts expect that Eagle Materials Inc. will post 15.11 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 16th were paid 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%.

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.