GAMMA Investing LLC Grows Position in Eagle Materials Inc. (NYSE:EXP)

GAMMA Investing LLC grew its holdings in shares of Eagle Materials Inc. (NYSE:EXP) by 10.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 676 shares of the construction company’s stock after purchasing an additional 65 shares during the period. GAMMA Investing LLC’s holdings in Eagle Materials were worth $167,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of EXP. FMR LLC raised its stake in Eagle Materials by 30.1% in the third quarter. FMR LLC now owns 3,801,257 shares of the construction company’s stock valued at $1,093,432,000 after purchasing an additional 878,400 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Eagle Materials by 60.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,735,133 shares of the construction company’s stock worth $499,111,000 after acquiring an additional 652,836 shares during the last quarter. Epoch Investment Partners Inc. grew its position in Eagle Materials by 25.2% in the second quarter. Epoch Investment Partners Inc. now owns 805,257 shares of the construction company’s stock worth $175,111,000 after acquiring an additional 162,049 shares in the last quarter. Geode Capital Management LLC increased its stake in Eagle Materials by 3.5% in the third quarter. Geode Capital Management LLC now owns 707,607 shares of the construction company’s stock valued at $203,585,000 after acquiring an additional 23,911 shares during the last quarter. Finally, William Blair Investment Management LLC raised its position in Eagle Materials by 4.9% during the second quarter. William Blair Investment Management LLC now owns 595,276 shares of the construction company’s stock valued at $129,449,000 after purchasing an additional 28,003 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Insider Activity at Eagle Materials

In other Eagle Materials news, CEO Michael Haack sold 11,888 shares of the company’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 transaction of $3,691,224.00. Following the transaction, the chief executive officer now owns 85,811 shares in the company, valued at approximately $26,644,315.50. This represents a 12.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Ross Stewart sold 3,577 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $300.30, for a total value of $1,074,173.10. Following the completion of the transaction, the director now directly 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. Insiders sold a total of 16,866 shares of company stock worth $5,205,311 over the last quarter. 1.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

EXP has been the subject of a number of research reports. Loop Capital cut Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price objective for the company. in a report on Monday, November 25th. The Goldman Sachs Group upped their target price on Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Truist Financial boosted their price objective on shares of Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. increased their target price on shares of Eagle Materials from $290.00 to $310.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Finally, Citigroup downgraded shares of Eagle Materials from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $334.00 to $280.00 in a research note on Monday. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $301.44.

Eagle Materials Trading Down 0.2 %

Shares of EXP opened at $238.56 on Thursday. The stock has a market capitalization of $8.00 billion, a P/E ratio of 16.85 and a beta of 1.37. Eagle Materials Inc. has a twelve month low of $197.58 and a twelve month high of $321.93. The company has a quick ratio of 1.14, a current ratio of 2.34 and a debt-to-equity ratio of 0.74. The firm has a fifty day simple moving average of $281.89 and a two-hundred day simple moving average of $266.05.

Eagle Materials (NYSE:EXP) last posted its 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 return on equity of 35.79% and a net margin of 21.32%. The firm had revenue of $623.62 million for the quarter, compared to analysts’ expectations of $651.46 million. During the same quarter in the prior year, the company posted $4.28 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. On average, research analysts anticipate that Eagle Materials Inc. will post 15.24 EPS for the current year.

Eagle Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 16th will be paid 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 dividend yield of 0.42%. Eagle Materials’s dividend payout ratio (DPR) is presently 7.06%.

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.