Horizon Kinetics Asset Management LLC Cuts Stock Holdings in Eagle Materials Inc. (NYSE:EXP)

Horizon Kinetics Asset Management LLC lessened its holdings in Eagle Materials Inc. (NYSE:EXP) by 13.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,605 shares of the construction company’s stock after selling 4,743 shares during the quarter. Horizon Kinetics Asset Management LLC owned 0.09% of Eagle Materials worth $9,091,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EXP. Bessemer Group Inc. boosted its stake in shares of Eagle Materials by 132.7% in the first quarter. Bessemer Group Inc. now owns 114 shares of the construction company’s stock valued at $31,000 after buying an additional 65 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Eagle Materials during the 1st quarter worth $42,000. McClarren Financial Advisors Inc. grew its stake in shares of Eagle Materials by 10,750.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 217 shares of the construction company’s stock worth $47,000 after purchasing an additional 215 shares during the period. EntryPoint Capital LLC increased its holdings in shares of Eagle Materials by 1,760.0% in the 1st quarter. EntryPoint Capital LLC now owns 186 shares of the construction company’s stock valued at $51,000 after purchasing an additional 176 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Eagle Materials in the third quarter valued at about $64,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

Eagle Materials Trading Down 0.1 %

Shares of EXP stock opened at $313.88 on Monday. The company has a market capitalization of $10.53 billion, a price-to-earnings ratio of 22.20 and a beta of 1.32. The company has a current ratio of 2.34, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. The firm has a 50-day moving average price of $293.76 and a 200 day moving average price of $258.69. Eagle Materials Inc. has a twelve month low of $177.67 and a twelve month high of $317.00.

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

Eagle Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend is Monday, December 16th. Eagle Materials’s dividend payout ratio is presently 7.06%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on EXP shares. Loop Capital cut shares of Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 target price for the company. in a report on Monday. Truist Financial lifted their price objective on Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. upped their target price on Eagle Materials from $270.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Citigroup lifted their price target on Eagle Materials from $252.00 to $311.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group increased 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. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $304.89.

Insider Transactions at Eagle Materials

In related news, Director George John Damiris sold 1,000 shares of the company’s stock in a transaction that occurred 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 owns 7,943 shares of the company’s stock, valued at approximately $2,205,135.66. This represents a 11.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard Ross Stewart sold 3,577 shares of Eagle Materials stock in a transaction 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 owns 1,100 shares in the company, valued at approximately $330,330. This trade represents a 76.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,978 shares of company stock worth $1,791,707 over the last quarter. 1.60% of the stock is currently owned by 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.