Van ECK Associates Corp Grows Holdings in Eagle Materials Inc. (NYSE:EXP)

Van ECK Associates Corp lifted its stake in shares of Eagle Materials Inc. (NYSE:EXP) by 40.0% in the third quarter, Holdings Channel reports. The institutional investor owned 22,485 shares of the construction company’s stock after buying an additional 6,424 shares during the quarter. Van ECK Associates Corp’s holdings in Eagle Materials were worth $6,443,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baupost Group LLC MA acquired a new position in Eagle Materials during the 1st quarter worth $71,199,000. Captrust Financial Advisors grew its stake in Eagle Materials by 61.6% in the first quarter. Captrust Financial Advisors now owns 509,605 shares of the construction company’s stock worth $138,485,000 after purchasing an additional 194,342 shares in the last quarter. Jupiter Asset Management Ltd. increased its holdings in Eagle Materials by 3,537.5% in the first quarter. Jupiter Asset Management Ltd. now owns 172,779 shares of the construction company’s stock valued at $46,953,000 after buying an additional 168,029 shares during the last quarter. Epoch Investment Partners Inc. raised its stake 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 valued at $175,111,000 after buying an additional 162,049 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in Eagle Materials by 33.4% during the 2nd quarter. Federated Hermes Inc. now owns 529,701 shares of the construction company’s stock worth $115,189,000 after buying an additional 132,677 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.

Insider Buying and Selling

In other Eagle Materials news, SVP Tony Thompson sold 1,401 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $314.00, for a total transaction of $439,914.00. Following the transaction, the senior vice president now owns 13,212 shares of the company’s stock, valued at approximately $4,148,568. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director George John Damiris sold 1,000 shares of the company’s 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 sale, the director now owns 7,943 shares in the company, valued at $2,205,135.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Tony Thompson sold 1,401 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $314.00, for a total value of $439,914.00. Following the transaction, the senior vice president now directly owns 13,212 shares of the company’s stock, valued at $4,148,568. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Eagle Materials Stock Performance

EXP opened at $311.87 on Friday. The company has a current ratio of 2.34, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. The business’s 50 day moving average is $281.50 and its 200-day moving average is $254.88. The stock has a market cap of $10.46 billion, a PE ratio of 22.02 and a beta of 1.32. Eagle Materials Inc. has a twelve month low of $164.15 and a twelve month high of $315.86.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings results 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). The business had revenue of $623.62 million for the quarter, compared to analyst estimates of $651.46 million. Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. The company’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm posted $4.28 EPS. On average, analysts predict that Eagle Materials Inc. will post 15.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on EXP shares. Truist Financial boosted their price target on Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. raised their price target on shares of Eagle Materials from $270.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Citigroup boosted their price objective on shares of Eagle Materials from $252.00 to $311.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Stephens raised their target price on shares of Eagle Materials from $280.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group upped their target price on Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $303.78.

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.