State Street Corp Sells 7,822 Shares of Eagle Materials Inc. (NYSE:EXP)

State Street Corp cut its position in Eagle Materials Inc. (NYSE:EXP - Free Report) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,012,245 shares of the construction company's stock after selling 7,822 shares during the quarter. State Street Corp owned about 3.02% of Eagle Materials worth $291,429,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EXP. Wealth Enhancement Advisory Services LLC increased its position in Eagle Materials by 481.5% in 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 acquiring an additional 6,885 shares during the period. Ausbil Investment Management Ltd increased its holdings in shares of Eagle Materials by 400.3% during the third quarter. Ausbil Investment Management Ltd now owns 12,978 shares of the construction company's stock valued at $3,733,000 after purchasing an additional 10,384 shares during the period. Baupost Group LLC MA raised its stake in shares of Eagle Materials by 46.2% during the third quarter. Baupost Group LLC MA now owns 500,273 shares of the construction company's stock valued at $143,904,000 after purchasing an additional 158,171 shares in the last quarter. Entropy Technologies LP acquired a new stake in Eagle Materials in the third quarter worth about $920,000. Finally, Cetera Investment Advisers grew its position in Eagle Materials by 294.1% in the 1st quarter. Cetera Investment Advisers now owns 7,070 shares of the construction company's stock valued at $1,921,000 after buying an additional 5,276 shares in the last quarter. Institutional investors own 96.07% of the company's stock.

Eagle Materials Trading Up 0.6 %

NYSE EXP traded up $1.70 on Wednesday, hitting $279.25. 205,909 shares of the company were exchanged, compared to its average volume of 303,230. 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 Inc. has a twelve month low of $186.72 and a twelve month high of $321.93. The firm has a market capitalization of $9.37 billion, a P/E ratio of 19.60 and a beta of 1.33. The company's 50 day moving average price is $297.60 and its 200-day moving average price is $262.50.

Eagle Materials (NYSE:EXP - Get Free Report) last released its quarterly 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 net margin of 21.32% and a return on equity of 35.79%. The firm had revenue of $623.62 million for the quarter, compared to analyst estimates of $651.46 million. During the same quarter in the prior year, the firm earned $4.28 EPS. The firm's revenue was up .2% compared to the same quarter last year. Analysts predict that Eagle Materials Inc. will post 15.24 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 16th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.36%. The ex-dividend date is Monday, December 16th. Eagle Materials's payout ratio is 7.06%.

Insider Buying and Selling

In related news, Director George John Damiris sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, September 17th. The stock was 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 of the company's stock, valued at approximately $2,205,135.66. The trade was a 11.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Tony Thompson sold 1,401 shares of the business's stock in a transaction that occurred 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 sale, the senior vice president now directly owns 13,212 shares of the company's stock, 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. In the last ninety days, insiders sold 17,866 shares of company stock valued at $5,482,931. Corporate insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on EXP. 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 report on Wednesday, November 27th. Jefferies Financial Group boosted their target price on Eagle Materials from $309.00 to $330.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. The Goldman Sachs Group increased their price target on Eagle Materials from $277.00 to $317.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Truist Financial boosted their price objective on Eagle Materials from $320.00 to $330.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Finally, Loop Capital cut Eagle Materials from a "buy" rating to a "hold" rating and set a $315.00 target price for the company. in a research note on Monday, November 25th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target 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.