Algert Global LLC Decreases Stock Position in Eagle Materials Inc. (NYSE:EXP)

Algert Global LLC cut its stake in shares of Eagle Materials Inc. (NYSE:EXP) by 29.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,696 shares of the construction company’s stock after selling 12,615 shares during the quarter. Algert Global LLC owned approximately 0.09% of Eagle Materials worth $8,830,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Cerity Partners LLC grew its holdings in Eagle Materials by 23.8% during the 3rd quarter. Cerity Partners LLC now owns 13,924 shares of the construction company’s stock worth $4,005,000 after acquiring an additional 2,679 shares in the last quarter. Citigroup Inc. lifted its position in shares of Eagle Materials by 34.6% during the 3rd quarter. Citigroup Inc. now owns 21,828 shares of the construction company’s stock worth $6,279,000 after purchasing an additional 5,614 shares during the last quarter. King Luther Capital Management Corp grew its stake in shares of Eagle Materials by 0.8% during the third quarter. King Luther Capital Management Corp now owns 46,562 shares of the construction company’s stock worth $13,394,000 after purchasing an additional 355 shares in the last quarter. Global Alpha Capital Management Ltd. increased its holdings in Eagle Materials by 1.9% in the third quarter. Global Alpha Capital Management Ltd. now owns 142,920 shares of the construction company’s stock valued at $41,111,000 after buying an additional 2,700 shares during the last quarter. Finally, Segall Bryant & Hamill LLC raised its stake in Eagle Materials by 3.6% in the third quarter. Segall Bryant & Hamill LLC now owns 63,682 shares of the construction company’s stock valued at $18,318,000 after buying an additional 2,199 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EXP has been the subject of several analyst reports. Jefferies Financial Group upped their price objective on Eagle Materials from $309.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Stephens lifted their price objective on shares of Eagle Materials from $280.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. The Goldman Sachs Group increased their target price 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. Truist Financial boosted their target price on Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Eagle Materials from $270.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $303.78.

Eagle Materials Price Performance

Shares of NYSE:EXP opened at $314.40 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 2.34. The business’s fifty day moving average price is $293.76 and its two-hundred day moving average price is $258.82. The stock has a market cap of $10.54 billion, a PE ratio of 22.20 and a beta of 1.32. Eagle Materials Inc. has a one year low of $177.65 and a one year high of $317.00.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data 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 company had revenue of $623.62 million for the quarter, compared to analyst estimates of $651.46 million. During the same period in the previous year, the business earned $4.28 EPS. The firm’s revenue was up .2% on a year-over-year basis. On average, analysts forecast that Eagle Materials Inc. will post 15.24 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 annualized dividend and a yield of 0.32%. Eagle Materials’s payout ratio is currently 7.06%.

Insiders Place Their Bets

In other news, Director Richard Ross Stewart sold 3,577 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $300.30, for a total transaction of $1,074,173.10. Following the completion of the sale, the director now directly owns 1,100 shares of the company’s stock, valued at $330,330. The trade was a 76.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director George John Damiris sold 1,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $277.62, for a total value of $277,620.00. Following the completion of the transaction, the director now directly owns 7,943 shares in the company, valued at $2,205,135.66. This trade represents a 11.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,978 shares of company stock valued at $1,791,707 in the last quarter. 1.60% of the stock is currently owned by company insiders.

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.