Bridgewater Associates LP Sells 15,114 Shares of Eagle Materials Inc. (NYSE:EXP)

Bridgewater Associates LP lowered its stake in Eagle Materials Inc. (NYSE:EXP) by 42.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,785 shares of the construction company’s stock after selling 15,114 shares during the quarter. Bridgewater Associates LP’s holdings in Eagle Materials were worth $5,979,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. CIBC Asset Management Inc boosted its position in shares of Eagle Materials by 3.7% in the third quarter. CIBC Asset Management Inc now owns 1,032 shares of the construction company’s stock valued at $297,000 after acquiring an additional 37 shares during the period. Financial Strategies Group Inc. boosted its holdings in Eagle Materials by 4.4% in the 3rd quarter. Financial Strategies Group Inc. now owns 1,022 shares of the construction company’s stock valued at $304,000 after purchasing an additional 43 shares during the period. Arizona State Retirement System grew its position in shares of Eagle Materials by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 9,644 shares of the construction company’s stock valued at $2,097,000 after purchasing an additional 56 shares in the last quarter. Trivant Custom Portfolio Group LLC increased its holdings in shares of Eagle Materials by 3.2% in the third quarter. Trivant Custom Portfolio Group LLC now owns 2,585 shares of the construction company’s stock worth $744,000 after purchasing an additional 79 shares during the period. Finally, UMB Bank n.a. raised its position in shares of Eagle Materials by 0.5% in the third quarter. UMB Bank n.a. now owns 15,405 shares of the construction company’s stock worth $4,431,000 after buying an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Insider Buying and Selling at Eagle Materials

In related news, Director George John Damiris sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $277.62, for a total transaction of $277,620.00. Following the completion of the sale, the director now directly owns 7,943 shares in the company, valued at $2,205,135.66. This represents a 11.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael Haack sold 11,888 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $310.50, for a total transaction of $3,691,224.00. Following the completion of the sale, the chief executive officer now directly owns 85,811 shares in the company, valued at approximately $26,644,315.50. This trade represents a 12.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,866 shares of company stock worth $5,482,931. 1.60% of the stock is currently owned by insiders.

Eagle Materials Price Performance

Shares of Eagle Materials stock opened at $308.92 on Friday. The stock has a market capitalization of $10.36 billion, a price-to-earnings ratio of 21.82 and a beta of 1.32. The company has a fifty day moving average of $295.80 and a 200-day moving average of $259.97. Eagle Materials Inc. has a 52-week low of $178.42 and a 52-week high of $321.93. 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 (NYSE:EXP) last announced 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 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 the consensus estimate of $651.46 million. During the same period last year, the business posted $4.28 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. Equities research analysts expect that Eagle Materials Inc. will post 15.24 EPS for the current year.

Eagle Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 16th will be given a $0.25 dividend. The ex-dividend date 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%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Truist Financial boosted their target price 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 upped their price objective on shares of Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their target price on shares of Eagle Materials from $309.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Loop Capital cut shares of Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price target for the company. in a research note on Monday, November 25th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Eagle Materials from $290.00 to $310.00 and gave the company a “neutral” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $307.11.

Eagle Materials Company 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.