Eagle Materials Inc. (NYSE:EXP) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its holdings in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) by 60.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,735,133 shares of the construction company's stock after purchasing an additional 652,836 shares during the quarter. JPMorgan Chase & Co. owned about 5.17% of Eagle Materials worth $499,111,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in EXP. CIBC Asset Management Inc grew its stake in Eagle Materials by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 1,032 shares of the construction company's stock worth $297,000 after purchasing an additional 37 shares in the last quarter. Coldstream Capital Management Inc. grew its position 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 buying an additional 41 shares in the last quarter. Financial Strategies Group Inc. grew its position in shares of Eagle Materials by 4.4% during the third quarter. Financial Strategies Group Inc. now owns 1,022 shares of the construction company's stock worth $304,000 after buying an additional 43 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Eagle Materials by 0.6% during the second quarter. Arizona State Retirement System now owns 9,644 shares of the construction company's stock worth $2,097,000 after buying an additional 56 shares during the period. Finally, National Bank of Canada FI raised 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 acquiring an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company's stock.

Insider Buying and Selling

In other Eagle Materials news, CEO Michael Haack sold 11,888 shares of the 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 transaction, the chief executive officer now owns 85,811 shares of the company's stock, valued at $26,644,315.50. This represents a 12.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Tony Thompson sold 1,401 shares of Eagle Materials stock in a transaction on Wednesday, November 6th. The shares were 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 directly owns 13,212 shares of the company's stock, valued at approximately $4,148,568. This represents a 9.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,866 shares of company stock worth $5,205,311. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on EXP shares. The Goldman Sachs Group upped their price objective 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 lowered shares of Eagle Materials from a "buy" rating to a "hold" rating and set a $315.00 price target on the stock. in a research note on Monday, November 25th. Jefferies Financial Group cut 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 report on Monday, December 16th. JPMorgan Chase & Co. boosted their target price on Eagle Materials from $290.00 to $310.00 and gave the company a "neutral" rating in a report on Wednesday, November 27th. Finally, Truist Financial raised their price target on Eagle Materials from $320.00 to $330.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $304.89.

Eagle Materials Price Performance

Shares of EXP traded down $2.49 on Friday, reaching $249.43. The stock had a trading volume of 237,514 shares, compared to its average volume of 305,210. The firm has a 50-day moving average of $289.03 and a 200 day moving average of $265.02. The firm has a market capitalization of $8.37 billion, a PE ratio of 17.62 and a beta of 1.33. Eagle Materials Inc. has a twelve month low of $195.93 and a twelve month high of $321.93. The company has a quick ratio of 1.14, a current ratio of 2.34 and a debt-to-equity ratio of 0.74.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The construction company reported $4.31 EPS for the quarter, missing analysts' consensus estimates of $4.75 by ($0.44). The business had revenue of $623.62 million during the quarter, compared to analyst estimates of $651.46 million. Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. Eagle Materials's revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $4.28 earnings per share. Sell-side analysts expect that Eagle Materials Inc. will post 15.24 EPS for the current year.

Eagle Materials Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Monday, December 16th. Eagle Materials's payout ratio is currently 7.06%.

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.