Citigroup Inc. Boosts Position in Eagle Materials Inc. (NYSE:EXP)

Citigroup Inc. increased its stake in Eagle Materials Inc. (NYSE:EXP - Free Report) by 34.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,828 shares of the construction company's stock after purchasing an additional 5,614 shares during the quarter. Citigroup Inc. owned approximately 0.07% of Eagle Materials worth $6,279,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. McClarren Financial Advisors Inc. increased its stake in shares of 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 in the last quarter. Capital Performance Advisors LLP purchased a new position in Eagle Materials in the 3rd quarter valued at approximately $64,000. GAMMA Investing LLC raised its holdings in Eagle Materials by 23.3% during the 2nd quarter. GAMMA Investing LLC now owns 471 shares of the construction company's stock valued at $102,000 after acquiring an additional 89 shares during the period. Quent Capital LLC lifted its position in shares of Eagle Materials by 155.3% during the third quarter. Quent Capital LLC now owns 434 shares of the construction company's stock worth $125,000 after acquiring an additional 264 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Eagle Materials by 22.5% during the 2nd quarter. Blue Trust Inc. now owns 680 shares of the construction company's stock worth $148,000 after purchasing an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company's stock.

Eagle Materials Stock Performance

Shares of NYSE:EXP traded down $5.27 during midday trading on Monday, reaching $303.65. 231,112 shares of the company's stock traded hands, compared to its average volume of 302,885. The stock has a 50 day moving average of $296.22 and a 200 day moving average of $260.10. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 2.34. The company has a market cap of $10.18 billion, a price-to-earnings ratio of 21.68 and a beta of 1.32. Eagle Materials Inc. has a one year low of $182.39 and a one year high of $321.93.

Eagle Materials (NYSE:EXP - Get Free Report) last announced its 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 firm had revenue of $623.62 million during the quarter, compared to analysts' expectations of $651.46 million. During the same period in the previous year, the business posted $4.28 earnings per share. The company's revenue for the quarter was up .2% on a year-over-year basis. As a group, equities research analysts anticipate that Eagle Materials Inc. will post 15.24 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The company 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 $0.25 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.33%. Eagle Materials's dividend payout ratio (DPR) is presently 7.06%.

Insider Activity

In other news, Director George John Damiris sold 1,000 shares of Eagle Materials stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $277.62, for a total value of $277,620.00. Following the sale, the director now directly owns 7,943 shares of the company's stock, valued at approximately $2,205,135.66. The trade was a 11.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Tony Thompson sold 1,401 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $314.00, for a total value of $439,914.00. Following the completion of the sale, the senior vice president now owns 13,212 shares in the company, valued at $4,148,568. This represents a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,866 shares of company stock worth $5,482,931 in the last three months. Company insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EXP. 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 note on Monday, November 25th. JPMorgan Chase & Co. boosted 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, November 27th. Truist Financial raised their price objective on shares of Eagle Materials from $320.00 to $330.00 and gave the company a "buy" rating in a research report on Monday, November 4th. The Goldman Sachs Group upped their target price 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. Finally, Jefferies Financial Group upped their price objective on Eagle Materials from $309.00 to $330.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock 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.