The Manufacturers Life Insurance Company Decreases Holdings in Eagle Materials Inc. (NYSE:EXP)

The Manufacturers Life Insurance Company lowered its position in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) by 5.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,582 shares of the construction company's stock after selling 1,698 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of Eagle Materials worth $7,934,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Epoch Investment Partners Inc. increased its holdings in Eagle Materials by 25.2% during the second quarter. Epoch Investment Partners Inc. now owns 805,257 shares of the construction company's stock worth $175,111,000 after buying an additional 162,049 shares during the last quarter. Federated Hermes Inc. grew its holdings in Eagle Materials by 33.4% during the second quarter. Federated Hermes Inc. now owns 529,701 shares of the construction company's stock worth $115,189,000 after purchasing an additional 132,677 shares during the period. Baupost Group LLC MA increased its position in Eagle Materials by 30.6% during the second quarter. Baupost Group LLC MA now owns 342,102 shares of the construction company's stock worth $74,394,000 after buying an additional 80,102 shares during the last quarter. Handelsbanken Fonder AB raised its stake in Eagle Materials by 24.0% in the third quarter. Handelsbanken Fonder AB now owns 293,730 shares of the construction company's stock valued at $84,491,000 after buying an additional 56,900 shares during the period. Finally, Weybosset Research & Management LLC acquired a new stake in shares of Eagle Materials in the third quarter valued at approximately $9,842,000. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Eagle Materials Stock Down 0.6 %

Shares of Eagle Materials stock traded down $1.84 on Thursday, hitting $300.00. The company had a trading volume of 316,284 shares, compared to its average volume of 302,077. The stock has a market capitalization of $10.06 billion, a price-to-earnings ratio of 21.31 and a beta of 1.33. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 2.34. Eagle Materials Inc. has a 1 year low of $183.92 and a 1 year high of $321.93. The stock has a 50 day moving average of $297.27 and a 200-day moving average of $261.03.

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

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 16th will be paid 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 payout ratio is currently 7.06%.

Insider Buying and Selling

In related news, SVP Tony Thompson sold 1,401 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $314.00, for a total transaction of $439,914.00. Following the sale, the senior vice president now directly owns 13,212 shares in the company, valued at approximately $4,148,568. The trade was a 9.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Haack sold 11,888 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $310.50, for a total value 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. This trade represents a 12.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,866 shares of company stock valued at $5,482,931. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on EXP shares. Loop Capital downgraded shares of Eagle Materials from a "buy" rating to a "hold" rating and set a $315.00 price objective for the company. in a research report on Monday, November 25th. JPMorgan Chase & Co. raised their price objective on 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 lifted their price objective on Eagle Materials from $309.00 to $330.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Truist Financial increased their target price on Eagle Materials from $320.00 to $330.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Finally, The Goldman Sachs Group increased their price objective on shares of Eagle Materials from $277.00 to $317.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $307.11.

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.