Atom Investors LP Buys Shares of 1,627 Eagle Materials Inc. (NYSE:EXP)

Atom Investors LP bought a new stake in Eagle Materials Inc. (NYSE:EXP) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 1,627 shares of the construction company’s stock, valued at approximately $468,000.

A number of other hedge funds also recently made changes to their positions in the stock. FMR LLC raised its position in shares of Eagle Materials by 30.1% during the third quarter. FMR LLC now owns 3,801,257 shares of the construction company’s stock worth $1,093,432,000 after acquiring an additional 878,400 shares during the last quarter. Epoch Investment Partners Inc. raised its position 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 worth $175,111,000 after acquiring an additional 162,049 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Eagle Materials by 4.9% during the second quarter. William Blair Investment Management LLC now owns 595,276 shares of the construction company’s stock worth $129,449,000 after acquiring an additional 28,003 shares during the last quarter. Federated Hermes Inc. raised its position 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 worth $115,189,000 after acquiring an additional 132,677 shares during the last quarter. Finally, Baupost Group LLC MA raised its position in shares of Eagle Materials by 46.2% during the third quarter. Baupost Group LLC MA now owns 500,273 shares of the construction company’s stock worth $143,904,000 after acquiring an additional 158,171 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on EXP shares. Jefferies Financial Group raised their target price on Eagle Materials from $309.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Truist Financial raised their target price on Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Loop Capital cut Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 target price for the company. in a research note on Monday, November 25th. The Goldman Sachs Group raised their target price on Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. 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 note on Wednesday, November 27th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Eagle Materials presently has an average rating of “Moderate Buy” and a consensus target price of $307.11.

Insider Activity at Eagle Materials

In related news, CEO Michael Haack sold 11,888 shares of Eagle Materials stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $310.50, for a total transaction of $3,691,224.00. Following the sale, the chief executive officer now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $277,620.00. Following the sale, the director now owns 7,943 shares in the company, valued at $2,205,135.66. This trade represents a 11.18 % 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 valued at $5,482,931 over the last 90 days. Insiders own 1.60% of the company’s stock.

Eagle Materials Trading Down 0.3 %

Shares of Eagle Materials stock opened at $301.73 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 2.34. Eagle Materials Inc. has a 52 week low of $182.39 and a 52 week high of $321.93. The stock has a 50 day moving average price of $296.88 and a two-hundred day moving average price of $260.75. The stock has a market capitalization of $10.12 billion, a PE ratio of 21.31 and a beta of 1.33.

Eagle Materials (NYSE:EXP) last announced its 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). The company had revenue of $623.62 million for the quarter, compared to analysts’ expectations of $651.46 million. Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $4.28 EPS. As a group, equities analysts anticipate that Eagle Materials Inc. will post 15.24 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The business 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.33%. Eagle Materials’s payout ratio is 7.06%.

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.