CIBC Asset Management Inc Buys 37 Shares of Eagle Materials Inc. (NYSE:EXP)

CIBC Asset Management Inc lifted its stake in shares of Eagle Materials Inc. (NYSE:EXP) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,032 shares of the construction company’s stock after acquiring an additional 37 shares during the quarter. CIBC Asset Management Inc’s holdings in Eagle Materials were worth $297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. raised its holdings in Eagle Materials by 132.7% during the 1st quarter. Bessemer Group Inc. now owns 114 shares of the construction company’s stock worth $31,000 after purchasing an additional 65 shares during the last quarter. Acadian Asset Management LLC bought a new position in Eagle Materials during the first quarter worth $42,000. EntryPoint Capital LLC lifted its holdings in Eagle Materials by 1,760.0% in the first quarter. EntryPoint Capital LLC now owns 186 shares of the construction company’s stock valued at $51,000 after buying an additional 176 shares during the period. McClarren Financial Advisors Inc. boosted its position in Eagle Materials by 10,750.0% during the second quarter. McClarren Financial Advisors Inc. now owns 217 shares of the construction company’s stock valued at $47,000 after acquiring an additional 215 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in Eagle Materials during the 3rd quarter worth about $64,000. 96.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Eagle Materials

In other news, Director George John Damiris sold 1,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $2,205,135.66. This represents a 11.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Tony Thompson sold 1,401 shares of Eagle Materials stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $314.00, for a total value of $439,914.00. Following the sale, the senior vice president now owns 13,212 shares in the company, valued at $4,148,568. This trade represents a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

EXP has been the topic of a number of recent analyst reports. Citigroup boosted their price objective on Eagle Materials from $252.00 to $311.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Stephens increased their price target on Eagle Materials from $280.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price objective on shares of Eagle Materials from $270.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. 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. Finally, Jefferies Financial Group lifted their price target 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. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $303.78.

Eagle Materials Stock Performance

EXP opened at $309.63 on Friday. The company has a market cap of $10.38 billion, a price-to-earnings ratio of 21.87 and a beta of 1.32. The company’s fifty day moving average price is $292.88 and its two-hundred day moving average price is $258.49. Eagle Materials Inc. has a 1-year low of $177.65 and a 1-year high of $317.00. The company has a current ratio of 2.34, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $4.31 earnings per share for the quarter, missing the consensus estimate of $4.75 by ($0.44). The business had revenue of $623.62 million during the quarter, compared to the consensus estimate of $651.46 million. Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. Eagle Materials’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $4.28 EPS. On average, analysts expect that Eagle Materials Inc. will post 15.24 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 16th will be issued a dividend of $0.25 per share. 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 dividend payout ratio (DPR) is currently 7.06%.

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.