The Manufacturers Life Insurance Company Trims Stock Holdings in Eagle Materials Inc. (NYSE:EXP)

The Manufacturers Life Insurance Company lowered its holdings in Eagle Materials Inc. (NYSE:EXP) by 5.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,582 shares of the construction company’s stock after selling 1,698 shares during the period. The Manufacturers Life Insurance Company owned about 0.08% of Eagle Materials worth $7,934,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Epoch Investment Partners Inc. boosted its holdings 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 valued at $175,111,000 after purchasing an additional 162,049 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in Eagle Materials by 4.9% in 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 during the last quarter. Federated Hermes Inc. boosted its holdings in Eagle Materials by 33.4% in the second quarter. Federated Hermes Inc. now owns 529,701 shares of the construction company’s stock valued at $115,189,000 after purchasing an additional 132,677 shares during the last quarter. Baupost Group LLC MA boosted its holdings in Eagle Materials by 30.6% in the second quarter. Baupost Group LLC MA now owns 342,102 shares of the construction company’s stock valued at $74,394,000 after purchasing an additional 80,102 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in Eagle Materials by 24.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 293,730 shares of the construction company’s stock worth $84,491,000 after buying an additional 56,900 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Insider Activity at Eagle Materials

In other 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 transaction of $277,620.00. Following the transaction, the director now directly owns 7,943 shares in the company, valued at approximately $2,205,135.66. This trade represents a 11.18 % 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 Eagle Materials 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 owns 85,811 shares in the company, valued at approximately $26,644,315.50. This trade represents a 12.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,866 shares of company stock worth $5,482,931 in the last three months. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on EXP shares. Loop Capital downgraded 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. Truist Financial increased their target price on 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 Eagle Materials from $290.00 to $310.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. The Goldman Sachs Group increased their target price on Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group increased their target price on Eagle Materials from $309.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Eagle Materials currently has a consensus rating of “Moderate Buy” and an average price target of $307.11.

Eagle Materials Stock Down 0.3 %

EXP opened at $301.73 on Thursday. Eagle Materials Inc. has a 12 month low of $182.39 and a 12 month high of $321.93. 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 stock has a market cap of $10.12 billion, a P/E ratio of 21.37 and a beta of 1.33. The stock’s 50 day moving average price is $296.88 and its 200 day moving average price is $260.75.

Eagle Materials (NYSE:EXP) last posted its earnings results on Tuesday, October 29th. The construction company reported $4.31 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $651.46 million. During the same quarter in the prior year, the business earned $4.28 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. As a group, research analysts predict that Eagle Materials Inc. will post 15.24 earnings per share for the current year.

Eagle Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.33%. The ex-dividend date is Monday, December 16th. Eagle Materials’s dividend payout ratio is currently 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.