Freedom Investment Management Inc. Lowers Stock Position in Eagle Materials Inc. (NYSE:EXP)

Freedom Investment Management Inc. reduced its position in shares of Eagle Materials Inc. (NYSE:EXP) by 63.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 738 shares of the construction company’s stock after selling 1,260 shares during the period. Freedom Investment Management Inc.’s holdings in Eagle Materials were worth $212,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its stake in Eagle Materials by 30.1% in the 3rd quarter. FMR LLC now owns 3,801,257 shares of the construction company’s stock valued at $1,093,432,000 after buying an additional 878,400 shares during the last quarter. Epoch Investment Partners Inc. lifted its holdings 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 worth $175,111,000 after acquiring an additional 162,049 shares during the period. Federated Hermes Inc. boosted its position in Eagle Materials by 33.4% in the second quarter. Federated Hermes Inc. now owns 529,701 shares of the construction company’s stock worth $115,189,000 after purchasing an additional 132,677 shares during the last quarter. Baupost Group LLC MA boosted its position 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 worth $74,394,000 after purchasing an additional 80,102 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its stake in Eagle Materials by 24.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 293,730 shares of the construction company’s stock valued at $84,491,000 after purchasing an additional 56,900 shares during the period. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EXP. The Goldman Sachs Group boosted their price target on shares of Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group increased their target price on shares of Eagle Materials from $309.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Truist Financial lifted their price target on shares of Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, November 4th. 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 note on Monday, November 25th. Finally, JPMorgan Chase & Co. raised their target price on Eagle Materials from $290.00 to $310.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. 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, the company presently has an average rating of “Moderate Buy” and an average target price of $307.11.

Eagle Materials Trading Up 1.0 %

NYSE:EXP opened at $308.92 on Monday. Eagle Materials Inc. has a 1 year low of $178.42 and a 1 year high of $321.93. The stock’s fifty day moving average price is $296.22 and its two-hundred day moving average price is $260.20. 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 company has a market cap of $10.36 billion, a P/E ratio of 21.82 and a beta of 1.32.

Eagle Materials (NYSE:EXP) last released its quarterly earnings data on Tuesday, October 29th. The construction company reported $4.31 EPS for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.44). Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. The firm had revenue of $623.62 million during the quarter, compared to the consensus estimate of $651.46 million. During the same quarter last year, the business posted $4.28 earnings per share. Eagle Materials’s revenue was up .2% compared to the same quarter last year. As a group, analysts expect that Eagle Materials Inc. will post 15.24 EPS for the current year.

Eagle Materials Dividend Announcement

The business also recently disclosed 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 dividend yield of 0.32%. The ex-dividend date of this dividend is Monday, December 16th. Eagle Materials’s dividend payout ratio (DPR) is 7.06%.

Insider Activity at Eagle Materials

In other Eagle Materials news, SVP Tony Thompson sold 1,401 shares of Eagle Materials stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $314.00, for a total transaction of $439,914.00. Following the completion of the sale, the senior vice president now owns 13,212 shares of the company’s stock, valued at $4,148,568. The trade was a 9.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director George John Damiris sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $277.62, for a total value of $277,620.00. Following the completion of the transaction, the director now owns 7,943 shares of the company’s stock, valued at $2,205,135.66. The trade was a 11.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,866 shares of company stock valued at $5,482,931 over the last three months. 1.60% of the stock is owned by corporate insiders.

Eagle Materials 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.