Fmr LLC Buys 878,400 Shares of Eagle Materials Inc. (NYSE:EXP)

FMR LLC grew its holdings in Eagle Materials Inc. (NYSE:EXP - Free Report) by 30.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,801,257 shares of the construction company's stock after buying an additional 878,400 shares during the quarter. FMR LLC owned 11.33% of Eagle Materials worth $1,093,432,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Bessemer Group Inc. grew its position in Eagle Materials by 132.7% in the first quarter. Bessemer Group Inc. now owns 114 shares of the construction company's stock valued at $31,000 after acquiring an additional 65 shares during the period. Acadian Asset Management LLC bought a new stake in Eagle Materials during the 1st quarter worth approximately $42,000. McClarren Financial Advisors Inc. raised its position in Eagle Materials by 10,750.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 217 shares of the construction company's stock valued at $47,000 after purchasing an additional 215 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Eagle Materials in the third quarter worth $64,000. Finally, Quent Capital LLC lifted its position in 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 purchasing an additional 264 shares during the period. Institutional investors and hedge funds own 96.07% of the company's stock.

Insider Buying and Selling

In related news, Director Richard Ross Stewart sold 3,577 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $300.30, for a total transaction of $1,074,173.10. Following the completion of the transaction, the director now owns 1,100 shares in the company, valued at approximately $330,330. This represents a 76.48 % 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 firm's stock in a transaction on Wednesday, November 6th. The shares were 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 directly owns 13,212 shares of the company's stock, valued at approximately $4,148,568. This trade represents a 9.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,866 shares of company stock worth $5,482,931. 1.60% of the stock is owned by corporate insiders.

Eagle Materials Stock Down 1.3 %

EXP traded down $4.03 during trading on Thursday, reaching $305.93. The company had a trading volume of 137,515 shares, compared to its average volume of 304,000. The company has a market cap of $10.26 billion, a P/E ratio of 21.61 and a beta of 1.32. Eagle Materials Inc. has a 12 month low of $177.67 and a 12 month high of $321.93. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.34 and a quick ratio of 1.14. The business's fifty day moving average price is $295.52 and its 200 day moving average price is $259.65.

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

Eagle Materials Dividend Announcement

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 given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.33%. Eagle Materials's dividend payout ratio is currently 7.06%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Jefferies Financial Group raised their price objective on shares of Eagle Materials from $309.00 to $330.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Stephens raised their target price on Eagle Materials from $280.00 to $315.00 and gave the stock an "overweight" rating in a report on Thursday, August 1st. Loop Capital cut Eagle Materials from a "buy" rating to a "hold" rating and set a $315.00 price target for the company. in a research note on Monday. Citigroup lifted their price objective on shares of Eagle Materials from $252.00 to $311.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group upped their target price on shares of Eagle Materials from $277.00 to $317.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Eagle Materials currently has an average rating of "Moderate Buy" and a consensus price target of $307.11.

Eagle Materials Company 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.