Empowered Funds LLC Acquires 233 Shares of Eagle Materials Inc. (NYSE:EXP)

Empowered Funds LLC boosted its holdings in Eagle Materials Inc. (NYSE:EXP) by 11.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,275 shares of the construction company’s stock after acquiring an additional 233 shares during the quarter. Empowered Funds LLC’s holdings in Eagle Materials were worth $654,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Epoch Investment Partners Inc. boosted its holdings 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 purchasing an additional 162,049 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Eagle Materials by 4.9% in the 2nd quarter. William Blair Investment Management LLC now owns 595,276 shares of the construction company’s stock valued at $129,449,000 after buying an additional 28,003 shares in the last quarter. Federated Hermes Inc. grew its position in Eagle Materials by 33.4% in the second quarter. Federated Hermes Inc. now owns 529,701 shares of the construction company’s stock valued at $115,189,000 after acquiring an additional 132,677 shares during the period. Captrust Financial Advisors raised its stake in Eagle Materials by 61.6% during the first quarter. Captrust Financial Advisors now owns 509,605 shares of the construction company’s stock worth $138,485,000 after acquiring an additional 194,342 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Eagle Materials by 1.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 351,258 shares of the construction company’s stock worth $95,455,000 after acquiring an additional 3,897 shares in the last quarter. Institutional investors own 96.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Stephens upped their price objective on shares of Eagle Materials from $280.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Citigroup raised their price objective on shares of Eagle Materials from $252.00 to $311.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Truist Financial boosted their target price on Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. raised their price target on Eagle Materials from $270.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $303.78.

Eagle Materials Stock Performance

Shares of Eagle Materials stock opened at $314.35 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.34 and a quick ratio of 1.14. The firm has a 50 day simple moving average of $293.76 and a 200 day simple moving average of $258.75. Eagle Materials Inc. has a fifty-two week low of $177.65 and a fifty-two week high of $317.00. The firm has a market cap of $10.54 billion, a P/E ratio of 22.20 and a beta of 1.32.

Eagle Materials (NYSE:EXP) last released its earnings results on Tuesday, October 29th. The construction company reported $4.31 EPS for the quarter, missing the consensus estimate of $4.75 by ($0.44). Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. The firm had revenue of $623.62 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. Sell-side analysts predict that Eagle Materials Inc. will post 15.24 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders 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 is currently 7.06%.

Insider Buying and Selling at Eagle Materials

In other news, SVP Tony Thompson sold 1,401 shares of the firm’s 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 transaction, the senior vice president now directly owns 13,212 shares in the company, valued at $4,148,568. This trade represents a 9.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Ross Stewart sold 3,577 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $300.30, for a total value of $1,074,173.10. Following the completion of the sale, the director now owns 1,100 shares of the company’s stock, valued at $330,330. This represents a 76.48 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,978 shares of company stock worth $1,791,707. Company insiders own 1.60% of the company’s stock.

About Eagle Materials

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.