Raymond James Trust N.A. Sells 111 Shares of Eagle Materials Inc. (NYSE:EXP)

Raymond James Trust N.A. cut its holdings in Eagle Materials Inc. (NYSE:EXP) by 9.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,074 shares of the construction company’s stock after selling 111 shares during the period. Raymond James Trust N.A.’s holdings in Eagle Materials were worth $309,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Eagle Materials by 481.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,315 shares of the construction company’s stock worth $1,808,000 after purchasing an additional 6,885 shares during the last quarter. Ausbil Investment Management Ltd increased its position in shares of Eagle Materials by 400.3% in the third quarter. Ausbil Investment Management Ltd now owns 12,978 shares of the construction company’s stock valued at $3,733,000 after acquiring an additional 10,384 shares during the period. SG Americas Securities LLC raised its stake in shares of Eagle Materials by 441.1% during the second quarter. SG Americas Securities LLC now owns 27,818 shares of the construction company’s stock valued at $6,049,000 after acquiring an additional 22,677 shares during the last quarter. Comerica Bank boosted its holdings in shares of Eagle Materials by 94.8% during the first quarter. Comerica Bank now owns 32,772 shares of the construction company’s stock worth $8,906,000 after purchasing an additional 15,949 shares during the period. Finally, Cetera Investment Advisers grew its stake in shares of Eagle Materials by 294.1% in the first quarter. Cetera Investment Advisers now owns 7,070 shares of the construction company’s stock worth $1,921,000 after purchasing an additional 5,276 shares during the last quarter. 96.07% of the stock is owned by institutional investors.

Insider Transactions at Eagle Materials

In other Eagle Materials news, Director George John Damiris sold 1,000 shares of Eagle Materials 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 of the company’s stock, valued at approximately $2,205,135.66. This trade represents a 11.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Haack sold 11,888 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $310.50, for a total value of $3,691,224.00. Following the transaction, the chief executive officer now directly owns 85,811 shares in the company, valued at approximately $26,644,315.50. The trade was a 12.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,866 shares of company stock valued at $5,482,931 in the last quarter. 1.60% of the stock is owned by insiders.

Eagle Materials Price Performance

Shares of EXP opened at $305.93 on Thursday. Eagle Materials Inc. has a fifty-two week low of $177.67 and a fifty-two week high of $321.93. The firm’s 50-day simple moving average is $295.08 and its two-hundred day simple moving average is $259.32. The stock has a market cap of $10.26 billion, a PE ratio of 21.61 and a beta of 1.32. 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 posted 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 company had revenue of $623.62 million during the quarter, compared to analysts’ expectations of $651.46 million. Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.28 EPS. Analysts anticipate that Eagle Materials Inc. will post 15.24 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.33%. Eagle Materials’s payout ratio is presently 7.06%.

Analyst Ratings Changes

A number of research analysts have commented on EXP shares. Loop Capital lowered Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price target for the company. in a research report on Monday. Citigroup raised their price target on Eagle Materials from $252.00 to $311.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Jefferies Financial Group boosted their price objective on shares of Eagle Materials from $309.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. 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 research report on Thursday, August 1st. Finally, Truist Financial boosted their price target 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. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Eagle Materials has a consensus rating of “Moderate Buy” and a consensus target price of $307.11.

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.