Eagle Materials Inc. (NYSE:EXP) Shares Sold by State Street Corp

State Street Corp decreased its holdings in Eagle Materials Inc. (NYSE:EXP) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,012,245 shares of the construction company’s stock after selling 7,822 shares during the quarter. State Street Corp owned about 3.02% of Eagle Materials worth $291,429,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. McClarren Financial Advisors Inc. boosted its stake in shares of Eagle Materials by 10,750.0% during the second quarter. McClarren Financial Advisors Inc. now owns 217 shares of the construction company’s stock worth $47,000 after buying an additional 215 shares during the period. Capital Performance Advisors LLP acquired a new stake in Eagle Materials during the 3rd quarter worth approximately $64,000. Quent Capital LLC lifted its position in 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 acquiring an additional 264 shares during the period. Blue Trust Inc. increased its holdings in shares of Eagle Materials by 22.5% in the second quarter. Blue Trust Inc. now owns 680 shares of the construction company’s stock valued at $148,000 after purchasing an additional 125 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Eagle Materials by 29.7% during the third quarter. GAMMA Investing LLC now owns 611 shares of the construction company’s stock worth $176,000 after purchasing an additional 140 shares during the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of Eagle Materials from $309.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Loop Capital lowered shares of Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price target on the stock. in a research note on Monday, November 25th. Truist Financial raised their price objective 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. The Goldman Sachs Group boosted their target price on 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. raised their target price on Eagle Materials from $290.00 to $310.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $307.11.

Insider Activity

In other Eagle Materials news, Director George John Damiris sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $277.62, for a total transaction of $277,620.00. Following the sale, the director now directly owns 7,943 shares of the company’s stock, valued at $2,205,135.66. This trade represents a 11.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Haack sold 11,888 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 85,811 shares of the company’s stock, valued at approximately $26,644,315.50. This represents a 12.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,866 shares of company stock worth $5,482,931 over the last three months. 1.60% of the stock is currently owned by corporate insiders.

Eagle Materials Trading Down 2.6 %

NYSE:EXP opened at $277.55 on Wednesday. The company has a market capitalization of $9.31 billion, a PE ratio of 19.60 and a beta of 1.33. Eagle Materials Inc. has a 52-week low of $186.72 and a 52-week high of $321.93. The stock has a fifty day simple moving average of $297.60 and a 200-day simple moving average of $262.50. The company has a quick ratio of 1.14, a current ratio of 2.34 and a debt-to-equity ratio of 0.74.

Eagle Materials (NYSE:EXP) last announced its quarterly 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 during the quarter, compared to analysts’ expectations of $651.46 million. During the same period last year, the company earned $4.28 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities research analysts expect that Eagle Materials Inc. will post 15.24 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.36%. Eagle Materials’s dividend payout ratio (DPR) is 7.06%.

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.