Eagle Materials Inc. (NYSE:EXP) is Hodges Capital Management Inc.'s 4th Largest Position

Hodges Capital Management Inc. raised its stake in Eagle Materials Inc. (NYSE:EXP - Free Report) by 11.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 180,820 shares of the construction company's stock after purchasing an additional 18,212 shares during the period. Eagle Materials accounts for approximately 2.7% of Hodges Capital Management Inc.'s investment portfolio, making the stock its 4th largest holding. Hodges Capital Management Inc. owned about 0.54% of Eagle Materials worth $44,619,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. FMR LLC grew its holdings in shares of Eagle Materials by 30.1% during the third quarter. FMR LLC now owns 3,801,257 shares of the construction company's stock valued at $1,093,432,000 after buying an additional 878,400 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Eagle Materials by 60.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,735,133 shares of the construction company's stock worth $499,111,000 after acquiring an additional 652,836 shares in the last quarter. Baupost Group LLC MA raised its position in Eagle Materials by 46.2% during the third quarter. Baupost Group LLC MA now owns 500,273 shares of the construction company's stock worth $143,904,000 after acquiring an additional 158,171 shares during the period. World Investment Advisors LLC acquired a new stake in shares of Eagle Materials in the third quarter valued at about $34,846,000. Finally, Merewether Investment Management LP acquired a new stake in shares of Eagle Materials in the third quarter valued at about $22,552,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eagle Materials

In other Eagle Materials news, CEO Michael Haack sold 11,888 shares of the business's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $310.50, for a total transaction of $3,691,224.00. Following the completion of the sale, the chief executive officer now owns 85,811 shares in the company, valued at $26,644,315.50. The trade was a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Ross Stewart sold 3,577 shares of Eagle Materials stock in a transaction on 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 sale, the director now directly owns 1,100 shares in the company, valued at $330,330. The trade was a 76.48 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on EXP shares. Stephens reissued an "overweight" rating and set a $310.00 target price on shares of Eagle Materials in a report on Thursday, January 30th. Loop Capital lowered Eagle Materials from a "buy" rating to a "hold" rating and set a $315.00 price objective on the stock. in a report on Monday, November 25th. The Goldman Sachs Group upped their price target on Eagle Materials from $277.00 to $317.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Truist Financial lifted their target price on shares of Eagle Materials from $320.00 to $330.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Finally, Citigroup lowered shares of Eagle Materials from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $334.00 to $280.00 in a research note on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Eagle Materials currently has an average rating of "Hold" and a consensus target price of $296.80.

Eagle Materials Stock Up 1.5 %

EXP stock traded up $3.92 during midday trading on Thursday, reaching $259.28. 385,980 shares of the company were exchanged, compared to its average volume of 312,158. The company has a market cap of $8.63 billion, a price-to-earnings ratio of 18.52 and a beta of 1.37. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 2.76. Eagle Materials Inc. has a 1-year low of $211.44 and a 1-year high of $321.93. The stock's 50-day simple moving average is $260.47 and its 200 day simple moving average is $270.44.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The construction company reported $3.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.97 by ($0.38). Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. On average, equities analysts forecast that Eagle Materials Inc. will post 14.6 earnings per share for the current year.

Eagle Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 17th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. Eagle Materials's dividend payout ratio (DPR) is 7.14%.

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.