Insider Selling: Eagle Materials Inc. (NYSE:EXP) CEO Sells 11,888 Shares of Stock

Eagle Materials Inc. (NYSE:EXP) CEO Michael Haack sold 11,888 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $310.50, for a total value of $3,691,224.00. Following the sale, the chief executive officer now directly owns 85,811 shares of the company’s stock, valued at approximately $26,644,315.50. This represents a 12.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Eagle Materials Stock Performance

NYSE EXP opened at $309.96 on Wednesday. The business has a 50 day moving average price of $294.49 and a 200 day moving average price of $259.03. The company has a market capitalization of $10.40 billion, a P/E ratio of 21.89 and a beta of 1.32. Eagle Materials Inc. has a 1-year low of $177.67 and a 1-year high of $321.93. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.34 and a quick ratio of 1.14.

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 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 firm had revenue of $623.62 million during the quarter, compared to analysts’ expectations of $651.46 million. During the same quarter in the prior year, the business earned $4.28 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts expect that Eagle Materials Inc. will post 15.24 EPS for the current fiscal year.

Eagle Materials Announces Dividend

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

Institutional Trading of Eagle Materials

Several large investors have recently modified their holdings of EXP. Acadian Asset Management LLC acquired a new position in shares of Eagle Materials during the 1st quarter worth approximately $42,000. Bessemer Group Inc. raised its holdings in shares of Eagle Materials by 132.7% in the first quarter. Bessemer Group Inc. now owns 114 shares of the construction company’s stock worth $31,000 after acquiring an additional 65 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Eagle Materials by 0.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 20,986 shares of the construction company’s stock valued at $5,705,000 after acquiring an additional 170 shares during the last quarter. EntryPoint Capital LLC increased its position in Eagle Materials by 1,760.0% during the 1st quarter. EntryPoint Capital LLC now owns 186 shares of the construction company’s stock worth $51,000 after purchasing an additional 176 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in Eagle Materials by 1.7% in the 1st quarter. Lazard Asset Management LLC now owns 40,574 shares of the construction company’s stock valued at $11,025,000 after purchasing an additional 680 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on EXP shares. Loop Capital cut shares of Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 target price for the company. in a research note on Monday. Truist Financial raised their price objective on shares of Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. boosted their target price on Eagle Materials from $270.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group raised their price target on Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Stephens upped their price objective on Eagle Materials from $280.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Four equities 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $304.89.

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.