Eagle Materials Inc. (NYSE:EXP) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC reduced its holdings in shares of Eagle Materials Inc. (NYSE:EXP) by 12.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,160 shares of the construction company’s stock after selling 12,254 shares during the period. Clearbridge Investments LLC owned approximately 0.26% of Eagle Materials worth $18,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. acquired a new position in Eagle Materials during the 4th quarter valued at about $1,085,000. NewEdge Wealth LLC grew its stake in Eagle Materials by 13.4% during the 4th quarter. NewEdge Wealth LLC now owns 89,090 shares of the construction company’s stock valued at $18,071,000 after purchasing an additional 10,514 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in Eagle Materials during the 4th quarter valued at about $1,988,000. Van ECK Associates Corp grew its stake in Eagle Materials by 39.7% during the 4th quarter. Van ECK Associates Corp now owns 10,537 shares of the construction company’s stock valued at $2,137,000 after purchasing an additional 2,993 shares during the last quarter. Finally, Mariner LLC lifted its position in Eagle Materials by 4.1% during the third quarter. Mariner LLC now owns 9,081 shares of the construction company’s stock worth $1,512,000 after buying an additional 357 shares in the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Eagle Materials

In other news, EVP Matt Newby sold 2,940 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $251.15, for a total transaction of $738,381.00. Following the completion of the transaction, the executive vice president now directly owns 21,819 shares of the company’s stock, valued at approximately $5,479,841.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.70% of the company’s stock.

Eagle Materials Trading Up 1.1 %

Shares of NYSE EXP traded up $2.68 during trading on Friday, reaching $238.27. The stock had a trading volume of 216,716 shares, compared to its average volume of 293,524. Eagle Materials Inc. has a fifty-two week low of $145.03 and a fifty-two week high of $276.61. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.13 and a current ratio of 2.62. The business’s 50-day moving average price is $258.13 and its 200-day moving average price is $228.18. The company has a market cap of $8.08 billion, a P/E ratio of 17.49 and a beta of 1.35.

Eagle Materials (NYSE:EXP) last released its earnings results on Tuesday, May 21st. The construction company reported $2.24 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.48). Eagle Materials had a return on equity of 37.31% and a net margin of 21.14%. The company had revenue of $476.70 million for the quarter, compared to analyst estimates of $480.20 million. During the same period in the previous year, the firm earned $2.79 earnings per share. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, equities research analysts predict that Eagle Materials Inc. will post 15.95 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, June 17th. This represents a $1.00 annualized dividend and a yield of 0.42%. Eagle Materials’s payout ratio is 7.34%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on EXP shares. Truist Financial lifted their price objective on Eagle Materials from $290.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Citigroup reduced their price objective on Eagle Materials from $311.00 to $297.00 and set a “buy” rating on the stock in a research report on Thursday. Stephens lifted their price objective on Eagle Materials from $250.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. Loop Capital reduced their target price on Eagle Materials from $310.00 to $305.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Raymond James lifted their target price on Eagle Materials from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $279.67.

About 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.