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 firm’s stock in a transaction dated Friday, November 22nd. The shares were 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 directly owns 85,811 shares in the company, valued at $26,644,315.50. This trade represents a 12.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Eagle Materials Stock Performance

Shares of Eagle Materials stock opened at $315.50 on Tuesday. The firm has a market capitalization of $10.58 billion, a P/E ratio of 22.28 and a beta of 1.32. Eagle Materials Inc. has a 52 week low of $177.67 and a 52 week 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 company has a 50 day moving average price of $294.49 and a 200 day moving average price of $259.03.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings data 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). The company had revenue of $623.62 million for the quarter, compared to analysts’ expectations of $651.46 million. Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. Eagle Materials’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the firm earned $4.28 earnings per share. Sell-side analysts expect that Eagle Materials Inc. will post 15.24 EPS for the current year.

Eagle Materials Dividend Announcement

The company 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 0.32%. The ex-dividend date of this dividend is Monday, December 16th. Eagle Materials’s payout ratio is 7.06%.

Wall Street Analysts Forecast Growth

EXP has been the topic of several research reports. Truist Financial lifted their price objective on shares of Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, November 4th. Citigroup boosted their price target on Eagle Materials from $252.00 to $311.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Loop Capital downgraded Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price objective on the stock. in a research report on Monday. JPMorgan Chase & Co. boosted their target price on shares of Eagle Materials from $270.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group raised their price target on shares of Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Eagle Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $304.89.

Institutional Investors Weigh In On Eagle Materials

A number of institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC lifted its stake in Eagle Materials by 30.1% during the 3rd quarter. FMR LLC now owns 3,801,257 shares of the construction company’s stock valued at $1,093,432,000 after acquiring an additional 878,400 shares during the period. Epoch Investment Partners Inc. lifted its position in Eagle Materials by 25.2% during the second quarter. Epoch Investment Partners Inc. now owns 805,257 shares of the construction company’s stock valued at $175,111,000 after purchasing an additional 162,049 shares during the period. Geode Capital Management LLC boosted its holdings 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 purchasing an additional 23,911 shares during the last quarter. William Blair Investment Management LLC grew its position in Eagle Materials by 4.9% during the 2nd quarter. William Blair Investment Management LLC now owns 595,276 shares of the construction company’s stock worth $129,449,000 after purchasing an additional 28,003 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of Eagle Materials by 33.4% during the 2nd quarter. Federated Hermes Inc. now owns 529,701 shares of the construction company’s stock valued at $115,189,000 after buying an additional 132,677 shares during the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

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.