Sheets Smith Wealth Management Increases Stake in Eagle Materials Inc. (NYSE:EXP)

Sheets Smith Wealth Management increased its position in shares of Eagle Materials Inc. (NYSE:EXP) by 3.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,583 shares of the construction company’s stock after purchasing an additional 92 shares during the quarter. Sheets Smith Wealth Management’s holdings in Eagle Materials were worth $637,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Eagle Materials by 24.0% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 83,378 shares of the construction company’s stock valued at $20,574,000 after buying an additional 16,140 shares during the period. Artemis Investment Management LLP boosted its holdings in Eagle Materials by 16.2% during the 4th quarter. Artemis Investment Management LLP now owns 270,711 shares of the construction company’s stock valued at $66,801,000 after acquiring an additional 37,689 shares during the period. J2 Capital Management Inc bought a new position in Eagle Materials in the 4th quarter valued at $284,000. Ritholtz Wealth Management increased its stake in Eagle Materials by 16.2% in the fourth quarter. Ritholtz Wealth Management now owns 3,407 shares of the construction company’s stock worth $841,000 after purchasing an additional 476 shares during the period. Finally, Burney Co. lifted its position in shares of Eagle Materials by 53.8% during the fourth quarter. Burney Co. now owns 1,720 shares of the construction company’s stock worth $424,000 after purchasing an additional 602 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors.

Eagle Materials Trading Up 0.0 %

Shares of NYSE:EXP opened at $257.96 on Thursday. The company has a current ratio of 2.34, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $8.65 billion, a PE ratio of 18.22 and a beta of 1.37. Eagle Materials Inc. has a 12-month low of $203.98 and a 12-month high of $321.93. The business’s fifty day simple moving average is $271.19 and its 200-day simple moving average is $268.38.

Eagle Materials (NYSE:EXP) last announced its earnings results on Tuesday, October 29th. The construction company reported $4.31 EPS for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.44). Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. The firm had revenue of $623.62 million during the quarter, compared to the consensus estimate of $651.46 million. During the same quarter in the prior year, the firm posted $4.28 earnings per share. The business’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities research analysts predict that Eagle Materials Inc. will post 15.11 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 16th were paid a $0.25 dividend. The ex-dividend date 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 7.06%.

Insiders Place Their Bets

In other news, CEO Michael Haack sold 11,888 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $310.50, for a total transaction of $3,691,224.00. Following the sale, the chief executive officer now owns 85,811 shares in the company, valued at approximately $26,644,315.50. The trade was a 12.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Tony Thompson sold 1,401 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 13,212 shares of the company’s stock, valued at $4,148,568. The trade was a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,866 shares of company stock valued at $5,205,311. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EXP. Truist Financial upped their price target on shares of Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Stephens reduced their target price on shares of Eagle Materials from $325.00 to $310.00 and set an “overweight” rating on the stock in a research report on Wednesday. The Goldman Sachs Group boosted their price target on Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Citigroup downgraded Eagle Materials from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $334.00 to $280.00 in a report on Monday, January 6th. Finally, Loop Capital cut Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 target price for the company. in a report on Monday, November 25th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus 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.