Eagle Materials Inc. (NYSE:EXP) Shares Sold by Stifel Financial Corp

Stifel Financial Corp decreased its holdings in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) by 58.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 9,398 shares of the construction company's stock after selling 13,123 shares during the period. Stifel Financial Corp's holdings in Eagle Materials were worth $2,703,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EXP. FMR LLC lifted its stake in shares of Eagle Materials by 30.1% during the 3rd quarter. FMR LLC now owns 3,801,257 shares of the construction company's stock worth $1,093,432,000 after purchasing an additional 878,400 shares during the last quarter. Epoch Investment Partners Inc. lifted its position in shares of Eagle Materials by 25.2% during the second quarter. Epoch Investment Partners Inc. now owns 805,257 shares of the construction company's stock valued at $175,111,000 after buying an additional 162,049 shares during the last quarter. Baupost Group LLC MA lifted its position 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 buying an additional 158,171 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Eagle Materials by 33.4% in the 2nd quarter. Federated Hermes Inc. now owns 529,701 shares of the construction company's stock valued at $115,189,000 after buying an additional 132,677 shares in the last quarter. Finally, Merewether Investment Management LP purchased a new position in shares of Eagle Materials in the 3rd quarter worth approximately $22,552,000. Institutional investors own 96.07% of the company's stock.

Wall Street Analysts Forecast Growth

EXP has been the subject of a number of analyst reports. Loop Capital cut shares of Eagle Materials from a "buy" rating to a "hold" rating and set a $315.00 target price for the company. in a research report on Monday, November 25th. Truist Financial upped their price target on Eagle Materials from $320.00 to $330.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. The Goldman Sachs Group raised their price objective on Eagle Materials from $277.00 to $317.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on Eagle Materials from $290.00 to $310.00 and gave the company a "neutral" rating in a research report on Wednesday, November 27th. Finally, Jefferies Financial Group cut Eagle Materials from a "buy" rating to a "hold" rating and decreased their price target for the company from $330.00 to $310.00 in a research note on Monday. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Eagle Materials currently has an average rating of "Moderate Buy" and an average price target of $304.89.

Eagle Materials Stock Performance

Eagle Materials stock traded down $6.90 during trading hours on Thursday, hitting $250.20. 468,013 shares of the stock traded hands, compared to its average volume of 305,374. Eagle Materials Inc. has a 1 year low of $195.93 and a 1 year high of $321.93. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of 17.67 and a beta of 1.33. 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 firm's 50 day moving average price is $294.92 and its 200-day moving average price is $263.76.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its earnings results on Tuesday, October 29th. The construction company reported $4.31 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 during the quarter, compared to analysts' expectations of $651.46 million. During the same quarter in the prior year, the company earned $4.28 EPS. Eagle Materials's quarterly revenue was up .2% on a year-over-year basis. As a group, equities analysts expect that Eagle Materials Inc. will post 15.24 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 16th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.40%. Eagle Materials's dividend payout ratio (DPR) is presently 7.06%.

Insider Activity at Eagle Materials

In related news, CEO Michael Haack sold 11,888 shares of the firm'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 owns 85,811 shares in the company, valued at approximately $26,644,315.50. This trade represents a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Tony Thompson sold 1,401 shares of Eagle Materials 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 $4,148,568. The trade was a 9.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,866 shares of company stock worth $5,205,311 over the last three months. Company insiders own 1.60% of the company's stock.

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.