Highland Capital Management LLC Sells 650 Shares of Eagle Materials Inc. (NYSE:EXP)

Highland Capital Management LLC lessened its holdings in Eagle Materials Inc. (NYSE:EXP) by 2.2% in the fourth quarter, HoldingsChannel reports. The fund owned 29,550 shares of the construction company’s stock after selling 650 shares during the period. Highland Capital Management LLC’s holdings in Eagle Materials were worth $7,292,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Barclays PLC boosted its position in shares of Eagle Materials by 78.1% in the third quarter. Barclays PLC now owns 37,948 shares of the construction company’s stock valued at $10,915,000 after acquiring an additional 16,645 shares during the period. Ausbil Investment Management Ltd increased its holdings in shares of Eagle Materials by 400.3% during the third quarter. Ausbil Investment Management Ltd now owns 12,978 shares of the construction company’s stock worth $3,733,000 after buying an additional 10,384 shares in the last quarter. Baupost Group LLC MA boosted its stake in shares of Eagle Materials by 46.2% during the third quarter. Baupost Group LLC MA now owns 500,273 shares of the construction company’s stock valued at $143,904,000 after purchasing an additional 158,171 shares in the last quarter. Entropy Technologies LP bought a new stake in Eagle Materials during the 3rd quarter worth approximately $920,000. Finally, Natixis Advisors LLC raised its stake in shares of Eagle Materials by 11.8% during the third quarter. Natixis Advisors LLC now owns 27,265 shares of the construction company’s stock valued at $7,843,000 after acquiring an additional 2,871 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.

Insider Activity at Eagle Materials

In other news, Director Richard Ross Stewart sold 3,577 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $300.30, for a total value of $1,074,173.10. Following the completion of the sale, the director now directly owns 1,100 shares in the company, valued at approximately $330,330. The trade was a 76.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Haack sold 11,888 shares of the business’s stock in a transaction that occurred on 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 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. The trade was a 12.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,866 shares of company stock valued at $5,205,311. Corporate insiders own 1.60% of the company’s stock.

Eagle Materials Stock Performance

Shares of EXP stock opened at $254.51 on Thursday. The firm has a market cap of $8.54 billion, a price-to-earnings ratio of 17.97 and a beta of 1.37. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 2.34. Eagle Materials Inc. has a 52 week low of $211.44 and a 52 week high of $321.93. The firm’s 50-day simple moving average is $266.95 and its two-hundred day simple moving average is $269.75.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings data on Wednesday, January 29th. The construction company reported $3.59 EPS for the quarter, missing the consensus estimate of $3.97 by ($0.38). Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. As a group, equities analysts forecast that Eagle Materials Inc. will post 15.11 earnings per share for the current year.

Eagle Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders 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 dividend yield of 0.39%. Eagle Materials’s payout ratio is 7.06%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on EXP shares. Jefferies Financial Group downgraded shares of Eagle Materials from a “buy” rating to a “hold” rating and dropped their price target for the company from $330.00 to $310.00 in a research note on Monday, December 16th. The Goldman Sachs Group increased their price objective on shares of Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Truist Financial increased their price objective on shares of Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Citigroup cut shares of Eagle Materials from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $334.00 to $280.00 in a research report on Monday, January 6th. Finally, Loop Capital cut shares of 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, November 25th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $300.89.

Eagle Materials Company 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.