Ashton Thomas Private Wealth LLC Purchases New Position in Eagle Materials Inc. (NYSE:EXP)

Ashton Thomas Private Wealth LLC purchased a new stake in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,096 shares of the construction company's stock, valued at approximately $518,000.

Other hedge funds have also modified their holdings of the company. CIBC Asset Management Inc increased its holdings in Eagle Materials by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 1,032 shares of the construction company's stock worth $297,000 after buying an additional 37 shares during the period. Coldstream Capital Management Inc. raised its holdings in shares of Eagle Materials by 1.4% during the third quarter. Coldstream Capital Management Inc. now owns 2,981 shares of the construction company's stock worth $858,000 after purchasing an additional 41 shares during the last quarter. Sprott Inc. lifted its position in Eagle Materials by 3.0% during the fourth quarter. Sprott Inc. now owns 1,695 shares of the construction company's stock valued at $418,000 after purchasing an additional 50 shares during the period. Smartleaf Asset Management LLC lifted its position in Eagle Materials by 10.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 569 shares of the construction company's stock valued at $140,000 after purchasing an additional 56 shares during the period. Finally, National Bank of Canada FI boosted its holdings in Eagle Materials by 1.5% in the third quarter. National Bank of Canada FI now owns 3,872 shares of the construction company's stock valued at $1,114,000 after purchasing an additional 57 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insider Activity

In related news, Director Michael R. Nicolais acquired 310 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average price of $257.36 per share, with a total value of $79,781.60. Following the transaction, the director now owns 3,655 shares of the company's stock, valued at approximately $940,650.80. This trade represents a 9.27 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.60% of the company's stock.

Eagle Materials Price Performance

Shares of EXP stock traded up $0.52 during trading hours on Wednesday, reaching $211.97. The company had a trading volume of 150,569 shares, compared to its average volume of 353,662. Eagle Materials Inc. has a 12-month low of $205.44 and a 12-month high of $321.93. The company has a market capitalization of $7.06 billion, a price-to-earnings ratio of 15.16 and a beta of 1.37. The stock has a fifty day moving average of $243.03 and a 200-day moving average of $268.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 2.76.

Eagle Materials (NYSE:EXP - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The construction company reported $3.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.97 by ($0.38). Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. On average, equities analysts anticipate that Eagle Materials Inc. will post 14.39 earnings per share for the current year.

Eagle Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 17th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.47%. Eagle Materials's dividend payout ratio is currently 7.14%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EXP. DA Davidson decreased their price objective on Eagle Materials from $265.00 to $260.00 and set a "neutral" rating for the company in a report on Thursday, January 30th. Stifel Nicolaus started coverage on Eagle Materials in a research report on Tuesday, March 4th. They set a "hold" rating and a $242.00 price target on the stock. Jefferies Financial Group cut shares of Eagle Materials from a "buy" rating to a "hold" rating and cut their target price for the stock from $330.00 to $310.00 in a research note on Monday, December 16th. Stephens reiterated an "overweight" rating and set a $310.00 price objective on shares of Eagle Materials in a research note on Thursday, January 30th. Finally, Citigroup downgraded Eagle Materials from a "buy" rating to a "neutral" rating and decreased their target price for the company from $334.00 to $280.00 in a research report on Monday, January 6th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $292.40.

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.