Cerity Partners LLC Acquires 2,679 Shares of Eagle Materials Inc. (NYSE:EXP)

Cerity Partners LLC grew its position in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) by 23.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,924 shares of the construction company's stock after purchasing an additional 2,679 shares during the period. Cerity Partners LLC's holdings in Eagle Materials were worth $4,005,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its stake in Eagle Materials by 481.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,315 shares of the construction company's stock valued at $1,808,000 after purchasing an additional 6,885 shares in the last quarter. Ausbil Investment Management Ltd boosted its stake in shares of Eagle Materials by 400.3% during the 3rd quarter. Ausbil Investment Management Ltd now owns 12,978 shares of the construction company's stock valued at $3,733,000 after buying an additional 10,384 shares during the last quarter. Comerica Bank grew its position in shares of Eagle Materials by 94.8% during the first quarter. Comerica Bank now owns 32,772 shares of the construction company's stock worth $8,906,000 after buying an additional 15,949 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Eagle Materials by 441.1% in the second quarter. SG Americas Securities LLC now owns 27,818 shares of the construction company's stock worth $6,049,000 after buying an additional 22,677 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in Eagle Materials in the third quarter valued at $920,000. 96.07% of the stock is owned by institutional investors and hedge funds.

Eagle Materials Stock Performance

Eagle Materials stock traded up $2.99 during midday trading on Friday, reaching $308.92. 117,446 shares of the stock traded hands, compared to its average volume of 303,193. Eagle Materials Inc. has a fifty-two week low of $178.42 and a fifty-two week high of $321.93. 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 firm has a market cap of $10.36 billion, a price-to-earnings ratio of 21.82 and a beta of 1.32. The firm has a fifty day moving average price of $296.22 and a two-hundred day moving average price of $260.25.

Eagle Materials (NYSE:EXP - Get Free Report) last released its earnings results 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). 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 for the quarter, compared to analyst estimates of $651.46 million. During the same period in the previous year, the firm earned $4.28 earnings per share. Eagle Materials's revenue was up .2% on a year-over-year basis. On average, equities research 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 announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.32%. The ex-dividend date is Monday, December 16th. Eagle Materials's dividend payout ratio is presently 7.06%.

Insider Activity at Eagle Materials

In other Eagle Materials news, Director George John Damiris sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $277.62, for a total value of $277,620.00. Following the completion of the sale, the director now owns 7,943 shares in the company, valued at $2,205,135.66. This represents a 11.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Haack sold 11,888 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 85,811 shares in the company, valued at $26,644,315.50. This trade represents a 12.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,866 shares of company stock valued at $5,482,931 over the last ninety days. Insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

EXP has been the topic of several research reports. Loop Capital cut Eagle Materials from a "buy" rating to a "hold" rating and set a $315.00 price objective on the stock. in a research note on Monday, November 25th. Jefferies Financial Group upped their price target on Eagle Materials from $309.00 to $330.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Truist Financial lifted their price objective 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. JPMorgan Chase & Co. increased their target price on shares of Eagle Materials from $290.00 to $310.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, The Goldman Sachs Group lifted their price target on shares of Eagle Materials from $277.00 to $317.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Eagle Materials currently has a consensus rating of "Moderate Buy" and a consensus target price of $307.11.

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.