CIBC Asset Management Inc Raises Holdings in Eagle Materials Inc. (NYSE:EXP)

CIBC Asset Management Inc grew its holdings in Eagle Materials Inc. (NYSE:EXP) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,086 shares of the construction company’s stock after purchasing an additional 54 shares during the period. CIBC Asset Management Inc’s holdings in Eagle Materials were worth $268,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. FMR LLC increased its holdings in Eagle Materials by 30.1% in the 3rd quarter. FMR LLC now owns 3,801,257 shares of the construction company’s stock worth $1,093,432,000 after buying an additional 878,400 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Eagle Materials by 60.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,735,133 shares of the construction company’s stock valued at $499,111,000 after acquiring an additional 652,836 shares during the period. Baupost Group LLC MA boosted its holdings in shares of Eagle Materials by 46.2% during the 3rd quarter. Baupost Group LLC MA now owns 500,273 shares of the construction company’s stock valued at $143,904,000 after acquiring an additional 158,171 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of Eagle Materials in the third quarter worth approximately $34,846,000. Finally, Merewether Investment Management LP purchased a new position in shares of Eagle Materials during the third quarter valued at approximately $22,552,000. 96.07% of the stock is owned by institutional investors.

Eagle Materials Trading Up 1.4 %

Shares of NYSE:EXP opened at $227.29 on Tuesday. The stock has a 50 day moving average of $249.87 and a 200 day moving average of $270.62. The company has a market cap of $7.57 billion, a PE ratio of 16.24 and a beta of 1.37. Eagle Materials Inc. has a 12-month low of $211.44 and a 12-month high of $321.93. The company has a current ratio of 2.76, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Wednesday, January 29th. The construction company reported $3.59 earnings per share for the quarter, missing analysts’ consensus estimates of $3.97 by ($0.38). Eagle Materials had a return on equity of 34.14% and a net margin of 20.91%. As a group, equities research analysts expect that Eagle Materials Inc. will post 14.39 EPS for the current year.

Eagle Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 17th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Eagle Materials’s dividend payout ratio is presently 7.14%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on EXP shares. Stephens restated an “overweight” rating and issued a $310.00 target price on shares of Eagle Materials in a report on Thursday, January 30th. Loop Capital downgraded Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price target on the stock. in a research note on Monday, November 25th. Truist Financial upped their price objective on Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Citigroup cut Eagle Materials from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $334.00 to $280.00 in a research report on Monday, January 6th. Finally, The Goldman Sachs Group upped their price target 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. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Eagle Materials has a consensus rating of “Hold” and an average price target of $296.80.

Insider Activity

In related news, Director Michael R. Nicolais bought 310 shares of the stock in a transaction dated Monday, February 10th. The shares were purchased at an average price of $257.36 per share, with a total value of $79,781.60. Following the completion of the acquisition, the director now owns 3,655 shares of the company’s stock, valued at $940,650.80. This represents a 9.27 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company 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.