First Trust Direct Indexing L.P. Purchases Shares of 773 Eagle Materials Inc. (NYSE:EXP)

First Trust Direct Indexing L.P. purchased a new stake in Eagle Materials Inc. (NYSE:EXP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 773 shares of the construction company’s stock, valued at approximately $222,000.

Several other institutional investors and hedge funds also recently modified their holdings of EXP. Baupost Group LLC MA purchased a new stake in shares of Eagle Materials in the first quarter valued at about $71,199,000. Captrust Financial Advisors lifted its stake in shares of Eagle Materials by 61.6% during the first quarter. Captrust Financial Advisors now owns 509,605 shares of the construction company’s stock valued at $138,485,000 after buying an additional 194,342 shares during the period. Jupiter Asset Management Ltd. lifted its stake in shares of Eagle Materials by 3,537.5% during the first quarter. Jupiter Asset Management Ltd. now owns 172,779 shares of the construction company’s stock valued at $46,953,000 after buying an additional 168,029 shares during the period. Epoch Investment Partners Inc. lifted its stake in shares of 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 buying an additional 162,049 shares during the period. Finally, Federated Hermes Inc. lifted its stake in shares of Eagle Materials by 33.4% during the second 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 period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Jefferies Financial Group upped their price objective on shares of Eagle Materials from $309.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Citigroup upped their price objective on shares of Eagle Materials from $252.00 to $311.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped their price target on shares of Eagle Materials from $270.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group upped their price target on shares of Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Raymond James lowered shares of Eagle Materials from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Eagle Materials presently has an average rating of “Moderate Buy” and an average price target of $303.78.

Eagle Materials Stock Performance

Eagle Materials stock opened at $295.74 on Wednesday. Eagle Materials Inc. has a 12-month low of $163.20 and a 12-month high of $306.36. The company has a market capitalization of $9.92 billion, a price-to-earnings ratio of 20.89 and a beta of 1.32. 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 firm’s fifty day moving average price is $278.34 and its 200 day moving average price is $253.66.

Eagle Materials (NYSE:EXP) last released its quarterly earnings results on Tuesday, October 29th. The construction company reported $4.31 earnings per share (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 firm had revenue of $623.62 million for the quarter, compared to analysts’ expectations of $651.46 million. During the same period last year, the firm earned $4.28 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. On average, research analysts forecast that Eagle Materials Inc. will post 15.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Eagle Materials news, Director George John Damiris sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were 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 directly owns 7,943 shares of the company’s stock, valued at $2,205,135.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.

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.