Bridgewater Associates LP Trims Position in Eagle Materials Inc. (NYSE:EXP)

Bridgewater Associates LP trimmed its stake in Eagle Materials Inc. (NYSE:EXP - Free Report) by 42.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,785 shares of the construction company's stock after selling 15,114 shares during the period. Bridgewater Associates LP owned about 0.06% of Eagle Materials worth $5,979,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. McClarren Financial Advisors Inc. lifted its position in Eagle Materials by 10,750.0% in the second quarter. McClarren Financial Advisors Inc. now owns 217 shares of the construction company's stock worth $47,000 after purchasing an additional 215 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Eagle Materials in the 3rd quarter valued at $64,000. GAMMA Investing LLC lifted its holdings in shares of Eagle Materials by 23.3% during the 2nd quarter. GAMMA Investing LLC now owns 471 shares of the construction company's stock worth $102,000 after acquiring an additional 89 shares during the period. Quent Capital LLC boosted its position in shares of Eagle Materials by 155.3% during the 3rd quarter. Quent Capital LLC now owns 434 shares of the construction company's stock valued at $125,000 after acquiring an additional 264 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in 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 acquiring an additional 125 shares during the period. Institutional investors own 96.07% of the company's stock.

Eagle Materials Price Performance

Shares of EXP stock traded up $2.99 during trading hours on Friday, reaching $308.92. 117,446 shares of the company were exchanged, compared to its average volume of 303,193. The company has a market cap of $10.36 billion, a price-to-earnings ratio of 21.82 and a beta of 1.32. Eagle Materials Inc. has a fifty-two week low of $178.42 and a fifty-two week high of $321.93. The stock's fifty day moving average is $296.22 and its two-hundred day moving average is $260.25. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.34 and a quick ratio of 1.14.

Eagle Materials (NYSE:EXP - Get Free Report) 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 return on equity of 35.79% and a net margin of 21.32%. The company had revenue of $623.62 million for the quarter, compared to the consensus estimate of $651.46 million. During the same quarter last year, the company posted $4.28 EPS. The company's quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts forecast that Eagle Materials Inc. will post 15.24 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 16th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Monday, December 16th. Eagle Materials's payout ratio is 7.06%.

Insider Activity

In other news, SVP Tony Thompson sold 1,401 shares of the stock in a transaction on Wednesday, November 6th. The stock was 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 owns 13,212 shares in the company, valued at approximately $4,148,568. This represents a 9.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Haack sold 11,888 shares of the business's stock in a transaction dated Friday, November 22nd. The shares were 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 in the company, valued at $26,644,315.50. This represents a 12.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,866 shares of company stock valued at $5,482,931 in the last three months. Company insiders own 1.60% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on EXP shares. JPMorgan Chase & Co. raised their price target on shares of Eagle Materials from $290.00 to $310.00 and gave the stock a "neutral" rating in a research note on Wednesday. The Goldman Sachs Group raised 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. Loop Capital cut Eagle Materials from a "buy" rating to a "hold" rating and set a $315.00 price target on the stock. in a research report on Monday, November 25th. Jefferies Financial Group lifted their price objective on Eagle Materials from $309.00 to $330.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Finally, Truist Financial lifted their price target on shares of Eagle Materials from $320.00 to $330.00 and gave the company a "buy" rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Eagle Materials has a consensus rating of "Moderate Buy" and an average target price of $307.11.

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.