Eagle Materials Inc. (NYSE:EXP) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in Eagle Materials Inc. (NYSE:EXP) by 60.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,735,133 shares of the construction company’s stock after acquiring an additional 652,836 shares during the quarter. JPMorgan Chase & Co. owned approximately 5.17% of Eagle Materials worth $499,111,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of Eagle Materials during the third quarter worth about $64,000. Quent Capital LLC boosted its holdings in Eagle Materials by 155.3% in the 3rd quarter. Quent Capital LLC now owns 434 shares of the construction company’s stock worth $125,000 after buying an additional 264 shares during the last quarter. GAMMA Investing LLC increased its stake in Eagle Materials by 29.7% during the 3rd quarter. GAMMA Investing LLC now owns 611 shares of the construction company’s stock worth $176,000 after buying an additional 140 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in shares of Eagle Materials by 23.5% during the third quarter. Central Pacific Bank Trust Division now owns 630 shares of the construction company’s stock valued at $181,000 after acquiring an additional 120 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its position in shares of Eagle Materials by 789.9% in the third quarter. Harvest Fund Management Co. Ltd now owns 703 shares of the construction company’s stock valued at $202,000 after acquiring an additional 624 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Eagle Materials Trading Down 1.0 %

NYSE EXP opened at $249.43 on Friday. 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 capitalization of $8.37 billion, a P/E ratio of 17.62 and a beta of 1.33. The firm’s 50-day moving average is $289.03 and its two-hundred day moving average is $265.02. Eagle Materials Inc. has a 12 month low of $195.93 and a 12 month high of $321.93.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings data 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 return on equity of 35.79% and a net margin of 21.32%. The company 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 company posted $4.28 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. On average, sell-side analysts anticipate that Eagle Materials Inc. will post 15.24 earnings per share for the current year.

Eagle Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 16th will be issued a $0.25 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.40%. Eagle Materials’s dividend payout ratio is presently 7.06%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Truist Financial increased their price objective on Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, November 4th. The Goldman Sachs Group raised their price target on shares of Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on shares of Eagle Materials from $290.00 to $310.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Jefferies Financial Group lowered shares of Eagle Materials from a “buy” rating to a “hold” rating and decreased their target price for the stock from $330.00 to $310.00 in a research note on Monday, December 16th. Finally, Loop Capital lowered Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price target for the company. in a research report on Monday, November 25th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $304.89.

Insider Buying and Selling

In other Eagle Materials news, SVP Tony Thompson sold 1,401 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $314.00, for a total transaction of $439,914.00. Following the sale, the senior vice president now directly owns 13,212 shares in the company, valued at $4,148,568. This represents a 9.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard Ross Stewart sold 3,577 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $300.30, for a total transaction 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. In the last 90 days, insiders have sold 16,866 shares of company stock valued at $5,205,311. Corporate insiders own 1.60% 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.