North Carolina State Treasurer Reduces Position in Eagle Materials Inc. (NYSE:EXP)

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The North Carolina State Treasurer reduced its position in shares of Eagle Materials Inc. (NYSE: EXPGet a rating) by 1.3% in Q1, according to the company in its latest filing with the Securities and Exchange Commission (SEC). The institutional investor held 14,247 shares of the construction company after selling 188 shares during the quarter. The North Carolina State Treasurer’s holdings in Eagle Materials were worth $1,829,000 when he last filed with the SEC.

Several other large investors have also recently changed their positions in EXP. CWM LLC bought a new position in Eagle Materials in the fourth quarter worth $34,000. Prospera Financial Services Inc acquired a new stake in shares of Eagle Materials during Q1 worth approximately $42,000. Covestor Ltd bought a new position in shares of Eagle Materials in Q4, valued at around $97,000. Odey Asset Management Group Ltd acquired a new position in Eagle Materials in Q4 worth approximately $117,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Eagle Materials during the first quarter worth around $142,000. 96.87% of the shares are currently held by institutional investors and hedge funds.

Insider Buying and Selling at Eagle Materials

In other news, EVP James H. Graass sold 2,856 shares of the company in a trade that took place on Wednesday, June 1. The shares were sold at an average price of $131.02, for a total transaction of $374,193.12. Following the completion of the sale, the executive vice president now owns 14,294 shares of the company, valued at approximately $1,872,799.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. In other Eagle Materials news, Executive Vice President James H. Graass sold 2,856 Eagle Materials shares in a trade on Wednesday, June 1. The stock was sold at an average price of $131.02, for a total value of $374,193.12. Following the sale, the executive vice president now owns 14,294 shares of the company, valued at $1,872,799.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via the SEC website. Also, director Ed H. Bowman, Jr. sold 1,828 shares in a trade on Friday, June 17. The stock was sold at an average price of $110.15, for a total value of $201,354.20. Following the transaction, the administrator now owns 10,485 shares of the company, valued at $1,154,922.75. Disclosure of this sale can be found here. Insiders sold 13,776 shares of the company worth $1,712,229 in the past ninety days. 1.60% of the shares are held by insiders.

Changes to analyst ratings

A number of analysts have recently commented on the company. Truist Financial cut its price target on Eagle Materials from $172.00 to $155.00 and set a “buy” rating for the company in a Monday, May 23 research report. StockNews.com upgraded Eagle Materials shares from a “hold” to a “buy” rating in a Friday, July 29 research report. JPMorgan Chase & Co. downgraded shares of Eagle Materials from an ‘overweight’ rating to a ‘neutral’ rating and lowered its target price for the company from $165.00 to $130.00 in a research report Wednesday, July 20. Citigroup raised its price target on Eagle Materials shares to $146.00 in a Tuesday, Aug. 9 research report. Finally, DA Davidson lowered its price target on Eagle Materials from $160.00 to $145.00 and set a “neutral” rating on the stock in a Friday, May 20 report. Five analysts gave the stock a hold rating and eight gave the stock a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $159.09.

Eagle Materials is trading down 2.5%

Shares of Eagle Materials stock opened at $131.20 on Friday. The company has a debt ratio of 1.00, a current ratio of 2.39 and a quick ratio of 1.37. The stock’s 50-day simple moving average is $119.53 and its 200-day simple moving average is $126.56. The stock has a market capitalization of $4.94 billion, a P/E ratio of 13.61 and a beta of 1.29. Eagle Materials Inc. has a 1-year low of $105.34 and a 1-year high of $169.15.

Eagle materials (NYSE: EXPGet a rating) last released its quarterly earnings data on Thursday, May 19. The construction company reported earnings per share of $1.90 for the quarter, beating analysts’ consensus estimate of $1.74 by $0.16. Eagle Materials had a return on equity of 33.25% and a net margin of 19.72%. The company posted revenue of $413.10 million for the quarter, versus analyst estimates of $400.68 million. In the same quarter a year earlier, the company posted earnings per share of $1.56. The company’s revenue for the quarter increased by 20.3% compared to the same quarter last year. Analysts predict Eagle Materials Inc. will post EPS of 11.41 for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14. Investors of record on Friday, September 16 will receive a dividend of $0.25 per share. This represents an annualized dividend of $1.00 and a yield of 0.76%. The ex-dividend date is Thursday, September 15. Eagle Materials’ payout ratio is currently 10.37%.

Eagle Materials Company Profile

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Eagle Materials Inc, through its subsidiaries, produces and supplies heavy building materials and light building materials in the United States. It operates through the cement, concrete and aggregates, gypsum board and recycled paperboard segments. The company is engaged in the extraction of limestone for the manufacture, production, distribution and sale of Portland cement; crushing and sale of slag; and the extraction of gypsum for the manufacture and sale of plasterboard used for finishing interior walls and ceilings in residential, commercial and industrial structures.

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Institutional ownership by quarter for Eagle Materials (NYSE:EXP)



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