Geode Capital Management LLC Raises Stock Position in Eagle Materials Inc. (NYSE:EXP)

Geode Capital Management LLC increased its holdings in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) by 3.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 707,607 shares of the construction company's stock after purchasing an additional 23,911 shares during the period. Geode Capital Management LLC owned 2.11% of Eagle Materials worth $203,585,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. McClarren Financial Advisors Inc. boosted 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 valued at $47,000 after buying an additional 215 shares during the period. Capital Performance Advisors LLP acquired a new position in Eagle Materials during the third quarter worth about $64,000. Quent Capital LLC lifted its holdings in shares of Eagle Materials by 155.3% in 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 during the last quarter. Blue Trust Inc. boosted its stake in shares of Eagle Materials by 22.5% in the 2nd quarter. Blue Trust Inc. now owns 680 shares of the construction company's stock valued at $148,000 after purchasing an additional 125 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Eagle Materials by 29.7% during the 3rd quarter. GAMMA Investing LLC now owns 611 shares of the construction company's stock valued at $176,000 after purchasing an additional 140 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors.

Eagle Materials Stock Down 2.0 %

NYSE:EXP traded down $5.35 during trading hours on Monday, reaching $267.97. The company had a trading volume of 426,887 shares, compared to its average volume of 304,579. 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. The firm has a market cap of $8.99 billion, a price-to-earnings ratio of 19.30 and a beta of 1.33. The business's 50-day simple moving average is $297.21 and its two-hundred day simple moving average is $263.42.

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

Eagle Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Monday, December 16th. Eagle Materials's dividend payout ratio is currently 7.06%.

Insider Buying and Selling

In related news, Director Richard Ross Stewart sold 3,577 shares of the business's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $300.30, for a total value of $1,074,173.10. Following the transaction, the director now directly owns 1,100 shares of the company's stock, valued at approximately $330,330. The trade was a 76.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Haack sold 11,888 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now owns 85,811 shares of the company's stock, valued at $26,644,315.50. This trade represents a 12.17 % decrease in their position. 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 quarter. Insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on EXP shares. JPMorgan Chase & Co. boosted their target price 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. Jefferies Financial Group downgraded Eagle Materials from a "buy" rating to a "hold" rating and dropped their target price for the company from $330.00 to $310.00 in a research report on Monday. The Goldman Sachs Group boosted their price target on Eagle Materials from $277.00 to $317.00 and gave the stock a "buy" rating in a 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 objective for the company. in a report on Monday, November 25th. Finally, Truist Financial boosted their target price 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. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $304.89.

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.