Wealth Effects LLC Reduces Holdings in Eagle Materials Inc. (NYSE:EXP)

Wealth Effects LLC lowered its position in Eagle Materials Inc. (NYSE:EXP) by 57.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 reporting period.

Several other institutional investors have also recently made changes to their positions in EXP. Squarepoint Ops LLC purchased a new stake in Eagle Materials in the 2nd quarter worth about $805,000. Millennium Management LLC raised its holdings in shares of Eagle Materials by 1,433.5% in the second quarter. Millennium Management LLC now owns 15,320 shares of the construction company’s stock worth $3,331,000 after buying an additional 14,321 shares during the period. Delphi Management Inc. MA lifted its stake in shares of Eagle Materials by 6.9% during the 2nd quarter. Delphi Management Inc. MA now owns 7,808 shares of the construction company’s stock worth $1,698,000 after acquiring an additional 503 shares during the last quarter. Dana Investment Advisors Inc. boosted its holdings in Eagle Materials by 5.6% during the 2nd quarter. Dana Investment Advisors Inc. now owns 5,931 shares of the construction company’s stock valued at $1,290,000 after acquiring an additional 315 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in Eagle Materials in the 2nd quarter valued at $523,000. Institutional investors own 96.07% of the company’s stock.

Insider Activity

In other Eagle Materials news, CEO Michael Haack sold 11,888 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was 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 directly owns 85,811 shares in the company, valued at $26,644,315.50. This represents a 12.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tony Thompson sold 1,401 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $314.00, for a total transaction of $439,914.00. Following the completion of the sale, the senior vice president now directly owns 13,212 shares of the company’s stock, valued at $4,148,568. This represents a 9.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,866 shares of company stock worth $5,205,311 over the last three months. Insiders own 1.60% of the company’s stock.

Eagle Materials Stock Down 0.9 %

Shares of EXP opened at $259.67 on Tuesday. The firm has a market cap of $8.71 billion, a P/E ratio of 18.34 and a beta of 1.37. Eagle Materials Inc. has a 12 month low of $211.44 and a 12 month high of $321.93. The stock’s 50 day moving average is $268.70 and its two-hundred day moving average is $269.66. The company has a current ratio of 2.34, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74.

Eagle Materials (NYSE:EXP) last released its quarterly 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). Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. The company had revenue of $623.62 million during the quarter, compared to analyst estimates of $651.46 million. During the same period in the prior year, the business posted $4.28 EPS. Eagle Materials’s revenue was up .2% compared to the same quarter last year. Analysts predict 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. Shareholders of record on Monday, December 16th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.00 annualized dividend and a yield of 0.39%. Eagle Materials’s dividend payout ratio (DPR) is presently 7.06%.

Analyst Ratings Changes

EXP has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price objective 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. Jefferies Financial Group cut Eagle Materials from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $330.00 to $310.00 in a research note on Monday, December 16th. Loop Capital lowered Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 target price for the company. in a research report on Monday, November 25th. Stephens cut their price target on Eagle Materials from $325.00 to $310.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Finally, Citigroup lowered shares of Eagle Materials from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $334.00 to $280.00 in a research note on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.