Insider Selling: Eagle Materials Inc. (NYSE:EXP) CEO Sells 11,888 Shares of Stock

Eagle Materials Inc. (NYSE:EXP) CEO Michael Haack sold 11,888 shares of the stock in a transaction that occurred 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 owns 85,811 shares of the company’s stock, valued at approximately $26,644,315.50. This trade represents a 12.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Eagle Materials Trading Up 1.0 %

Shares of NYSE:EXP traded up $3.19 during trading on Monday, hitting $317.54. The company had a trading volume of 320,444 shares, compared to its average volume of 303,859. The stock has a market cap of $10.65 billion, a price-to-earnings ratio of 22.63 and a beta of 1.32. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.34 and a quick ratio of 1.14. The company has a fifty day simple moving average of $293.76 and a two-hundred day simple moving average of $258.69. Eagle Materials Inc. has a one year low of $177.67 and a one year high of $321.93.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data 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). The business had revenue of $623.62 million for the quarter, compared to analysts’ expectations of $651.46 million. Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. Eagle Materials’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.28 EPS. As a group, equities analysts forecast that Eagle Materials Inc. will post 15.24 earnings per share for the current year.

Eagle Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.31%. Eagle Materials’s dividend payout ratio is presently 7.06%.

Hedge Funds Weigh In On Eagle Materials

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC boosted its stake in shares of Eagle Materials by 30.1% during the third quarter. FMR LLC now owns 3,801,257 shares of the construction company’s stock valued at $1,093,432,000 after purchasing an additional 878,400 shares in the last quarter. Epoch Investment Partners Inc. lifted its position in Eagle Materials by 25.2% during the second quarter. Epoch Investment Partners Inc. now owns 805,257 shares of the construction company’s stock valued at $175,111,000 after acquiring an additional 162,049 shares during the last quarter. Geode Capital Management LLC lifted its position in Eagle Materials by 3.5% during the third quarter. Geode Capital Management LLC now owns 707,607 shares of the construction company’s stock valued at $203,585,000 after acquiring an additional 23,911 shares during the last quarter. William Blair Investment Management LLC lifted its position in Eagle Materials by 4.9% during the second quarter. William Blair Investment Management LLC now owns 595,276 shares of the construction company’s stock valued at $129,449,000 after acquiring an additional 28,003 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in Eagle Materials by 33.4% during the second quarter. Federated Hermes Inc. now owns 529,701 shares of the construction company’s stock valued at $115,189,000 after acquiring an additional 132,677 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Citigroup raised their target price on Eagle Materials from $252.00 to $311.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Loop Capital lowered Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price objective for the company. in a research report on Monday. Truist Financial raised their price objective on Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. lifted their target price on Eagle Materials from $270.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group lifted their target price on Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $304.89.

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.