Verition Fund Management LLC Increases Position in Eagle Materials Inc. (NYSE:EXP)

Verition Fund Management LLC raised its position in shares of Eagle Materials Inc. (NYSE:EXP) by 60.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,293 shares of the construction company’s stock after purchasing an additional 860 shares during the period. Verition Fund Management LLC’s holdings in Eagle Materials were worth $660,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its holdings in shares of Eagle Materials by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 1,032 shares of the construction company’s stock valued at $297,000 after buying an additional 37 shares in the last quarter. Financial Strategies Group Inc. raised its stake in shares of Eagle Materials by 4.4% during the third quarter. Financial Strategies Group Inc. now owns 1,022 shares of the construction company’s stock worth $304,000 after acquiring an additional 43 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Eagle Materials by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 9,644 shares of the construction company’s stock worth $2,097,000 after acquiring an additional 56 shares during the last quarter. Trivant Custom Portfolio Group LLC boosted its stake in shares of Eagle Materials by 3.2% in the 3rd quarter. Trivant Custom Portfolio Group LLC now owns 2,585 shares of the construction company’s stock valued at $744,000 after purchasing an additional 79 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Eagle Materials by 0.5% during the 3rd quarter. UMB Bank n.a. now owns 15,405 shares of the construction company’s stock valued at $4,431,000 after purchasing an additional 79 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Jefferies Financial Group boosted their price target on shares of Eagle Materials from $309.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on Eagle Materials from $290.00 to $310.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Truist Financial raised their price target on Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. The Goldman Sachs Group boosted their price objective on Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Loop Capital cut shares of Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 target price on the stock. in a report on Monday, November 25th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $307.11.

Eagle Materials Stock Performance

Shares of EXP opened at $277.55 on Wednesday. Eagle Materials Inc. has a one year low of $186.72 and a one year high of $321.93. The business has a fifty day moving average of $297.60 and a 200 day moving average of $262.50. 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 market capitalization of $9.31 billion, a P/E ratio of 19.60 and a beta of 1.33.

Eagle Materials (NYSE:EXP) last announced its earnings results on Tuesday, October 29th. The construction company reported $4.31 EPS 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 business had revenue of $623.62 million for the quarter, compared to analysts’ expectations of $651.46 million. During the same period in the prior year, the company posted $4.28 earnings per share. The firm’s quarterly revenue was up .2% on a year-over-year basis. As a group, sell-side analysts anticipate that Eagle Materials Inc. will post 15.24 EPS for the current year.

Eagle Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 16th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Monday, December 16th. Eagle Materials’s dividend payout ratio (DPR) is currently 7.06%.

Insider Activity at Eagle Materials

In related news, SVP Tony Thompson sold 1,401 shares of Eagle Materials stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $314.00, for a total transaction of $439,914.00. Following the sale, the senior vice president now owns 13,212 shares of the company’s stock, valued at approximately $4,148,568. This trade represents a 9.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Haack sold 11,888 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 85,811 shares in the company, valued at approximately $26,644,315.50. This represents a 12.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,866 shares of company stock worth $5,482,931. 1.60% of the stock is owned by company insiders.

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.