Paloma Partners Management Co Buys Shares of 2,478 Eagle Materials Inc. (NYSE:EXP)

Paloma Partners Management Co bought a new stake in Eagle Materials Inc. (NYSE:EXP - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,478 shares of the construction company's stock, valued at approximately $713,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EXP. Wealth Enhancement Advisory Services LLC grew its holdings in Eagle Materials by 481.5% during 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 buying an additional 6,885 shares during the last quarter. Ausbil Investment Management Ltd raised its position in Eagle Materials by 400.3% in 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. SG Americas Securities LLC lifted its stake in shares of Eagle Materials by 441.1% during the second quarter. SG Americas Securities LLC now owns 27,818 shares of the construction company's stock worth $6,049,000 after purchasing an additional 22,677 shares in the last quarter. Baupost Group LLC MA lifted 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 worth $143,904,000 after purchasing an additional 158,171 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in shares of Eagle Materials during the third quarter worth about $920,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EXP has been the subject of several research analyst reports. Loop Capital lowered 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. Truist Financial increased their price objective on Eagle Materials from $320.00 to $330.00 and gave the company a "buy" rating in a research report on Monday, November 4th. The Goldman Sachs Group boosted 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. JPMorgan Chase & Co. upped their price target 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. Finally, Jefferies Financial Group increased their target price on shares of Eagle Materials from $309.00 to $330.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $307.11.

Insiders Place Their Bets

In other Eagle Materials news, Director George John Damiris sold 1,000 shares of Eagle Materials stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $277.62, for a total transaction of $277,620.00. Following the transaction, the director now owns 7,943 shares of the company's stock, valued at $2,205,135.66. The trade was a 11.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Haack sold 11,888 shares of the company'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 sale, the chief executive officer now directly owns 85,811 shares in the company, valued at approximately $26,644,315.50. The trade was 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 three months. 1.60% of the stock is currently owned by corporate insiders.

Eagle Materials Trading Down 0.3 %

EXP stock traded down $0.87 during midday trading on Wednesday, reaching $301.73. The company's stock had a trading volume of 221,845 shares, compared to its average volume of 301,982. Eagle Materials Inc. has a 52 week low of $182.39 and a 52 week high of $321.93. The stock has a market cap of $10.12 billion, a PE ratio of 21.37 and a beta of 1.33. 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 business's 50-day simple moving average is $296.88 and its 200-day simple moving average is $260.75.

Eagle Materials (NYSE:EXP - Get Free Report) last issued 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 the consensus estimate of $651.46 million. Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. The business's revenue was up .2% on a year-over-year basis. During the same period last year, the company posted $4.28 EPS. As a group, sell-side analysts expect that Eagle Materials Inc. will post 15.24 EPS for the current year.

Eagle Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.33%. The ex-dividend date is Monday, December 16th. Eagle Materials's dividend payout ratio (DPR) is currently 7.06%.

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.