Russell Investments Group Ltd. increased its position in shares of Eagle Materials Inc. (NYSE: EXP – Get a rating) by 18.2% during the 1st quarter, according to its last filing with the Securities and Exchange Commission (SEC). The fund held 23,465 shares of the construction company after acquiring 3,606 additional shares during the quarter. Russell Investments Group Ltd. owned approximately 0.06% of Eagle Materials worth $3,010,000 when it last filed with the SEC.
Several other hedge funds and other institutional investors also bought and sold shares of EXP. CWM LLC purchased a new position in Eagle Materials during Q4 for a value of approximately $34,000. Prospera Financial Services Inc acquired a new stake in Eagle Materials during Q1 valued at approximately $42,000. Covestor Ltd acquired a new stake in Eagle Materials during the 4th quarter for a value of approximately $97,000. Odey Asset Management Group Ltd acquired a new stake in Eagle Materials during the 4th quarter for a value of approximately $117,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Eagle Materials during the 1st quarter for a value of approximately $142,000. Institutional investors hold 96.87% of the company’s shares.
Insiders place their bets
In other Eagle Materials news, EVP James H. Graass sold 9,092 shares of Eagle Materials in a trade on Monday, May 23. The shares were sold at an average price of $125.02, for a total transaction of $1,136,681.84. Following the completion of the transaction, the executive vice president now directly owns 20,090 shares of the company, valued at $2,511,651.80. The transaction was disclosed in an SEC filing, available at the SEC website. Separately, executive vice president James H. Graass sold 2,856 shares of the company in a trade dated Wednesday, June 1. The stock was sold at an average price of $131.02, for a total value of $374,193.12. Following the completion of the transaction, the executive vice president now owns 14,294 shares of the company, valued at $1,872,799.88. The transaction was disclosed in a legal filing with the SEC, accessible via the SEC website. Additionally, Executive Vice President James H. Graass sold 9,092 shares of the company in a transaction dated Monday, May 23. The stock was sold at an average price of $125.02, for a total value of $1,136,681.84. Following the transaction, the executive vice president now directly owns 20,090 shares of the company, valued at approximately $2,511,651.80. Disclosure of this sale can be found here. Insiders sold a total of 17,776 shares of the company valued at $2,214,229 in the past ninety days. 1.60% of the shares are currently held by insiders of the company.
Changes to analyst ratings
Several analysts have commented on the title. JPMorgan Chase & Co. downgraded shares of Eagle Materials from an “overweight” rating to a “neutral” rating and lowered its target price for the stock from $165.00 to $130.00 in a report from the Wednesday July 20. StockNews.com upgraded Eagle Materials shares from a “hold” to a “buy” rating in a Friday, July 29 report. Goldman Sachs Group lowered its price target on Eagle Materials shares from $190.00 to $162.00 and set a “buy” rating on the stock in a Friday May 20 report. Truist Financial lowered its price target on Eagle Materials shares from $172.00 to $155.00 and set a “buy” rating on the stock in a Monday, May 23 report. Finally, Stephens lowered his price target on Eagle Materials shares to $170.00 in a Tuesday, July 26 report. Five research analysts gave the stock a hold rating and eight gave the stock a buy rating. According to data from MarketBeat.com, Eagle Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.09.
Eagle Materials Price Performance
Shares of EXP opened at $135.69 on Friday. The company has a market capitalization of $5.11 billion, a price-earnings ratio of 14.08 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. The company’s fifty-day simple moving average is $119.30 and its 200-day simple moving average is $126.95. The company has a current ratio of 2.39, a quick ratio of 1.37 and a debt ratio of 1.00.
Eagle materials (NYSE: EXP – Get a rating) last reported results 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 net margin of 19.72% and a return on equity of 33.25%. The company posted revenue of $413.10 million for the quarter, versus a consensus estimate of $400.68 million. In the same period a year earlier, the company earned earnings per share of $1.56. The company’s revenue for the quarter increased 20.3% year over year. On average, research analysts expect Eagle Materials Inc. to post 11.5 earnings per share for the current fiscal year.
Eagle Materials Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14. Shareholders of record on Friday, September 16 will receive a dividend of $0.25 per share. The ex-dividend date is Thursday, September 15. This represents a dividend of $1.00 on an annualized basis and a yield of 0.74%. Eagle Materials’ dividend payout ratio (DPR) is 10.37%.
About Eagle Materials
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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