CIBC Asset Management Inc Acquires 37 Shares of Eagle Materials Inc. (NYSE:EXP)

CIBC Asset Management Inc boosted its holdings in Eagle Materials Inc. (NYSE:EXP) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,032 shares of the construction company’s stock after purchasing an additional 37 shares during the period. CIBC Asset Management Inc’s holdings in Eagle Materials were worth $297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Financial Strategies Group Inc. increased its holdings in 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 buying an additional 43 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Eagle Materials by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 9,644 shares of the construction company’s stock worth $2,097,000 after purchasing an additional 56 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of Eagle Materials by 132.7% during the 1st quarter. Bessemer Group Inc. now owns 114 shares of the construction company’s stock worth $31,000 after purchasing an additional 65 shares during the last quarter. Trivant Custom Portfolio Group LLC raised its holdings 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 during the period. Finally, UMB Bank n.a. lifted its stake in Eagle Materials by 0.5% in 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. 96.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Jefferies Financial Group upped their price objective on Eagle Materials from $309.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. 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. Stephens upped their price objective on shares of Eagle Materials from $280.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. The Goldman Sachs Group increased their price objective on shares of Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Truist Financial lifted their target price 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. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $303.78.

Insider Activity

In other news, Director George John Damiris sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $277.62, for a total transaction of $277,620.00. Following the completion of the transaction, the director now owns 7,943 shares of the company’s stock, valued at approximately $2,205,135.66. The trade was a 11.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Tony Thompson sold 1,401 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $314.00, for a total value of $439,914.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Eagle Materials Stock Performance

NYSE EXP opened at $309.63 on Friday. Eagle Materials Inc. has a 12-month low of $177.65 and a 12-month high of $317.00. The firm has a 50-day moving average price of $292.88 and a two-hundred day moving average price of $258.49. The company has a market capitalization of $10.38 billion, a P/E ratio of 21.87 and a beta of 1.32. The company has a quick ratio of 1.14, a current ratio of 2.34 and a debt-to-equity ratio of 0.74.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings results on Tuesday, October 29th. The construction company reported $4.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.44). The company had revenue of $623.62 million for the quarter, compared to analyst estimates of $651.46 million. Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $4.28 EPS. Analysts anticipate that Eagle Materials Inc. will post 15.24 earnings per share for the current year.

Eagle Materials Announces Dividend

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

Eagle Materials 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.