Eagle Materials Inc. (NYSE:EXP) Shares Acquired by RBA Wealth Management LLC

RBA Wealth Management LLC boosted its position in Eagle Materials Inc. (NYSE:EXP) by 2.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,677 shares of the construction company’s stock after purchasing an additional 611 shares during the period. Eagle Materials makes up about 2.4% of RBA Wealth Management LLC’s portfolio, making the stock its 11th largest holding. RBA Wealth Management LLC’s holdings in Eagle Materials were worth $6,236,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of EXP. Baupost Group LLC MA bought a new position in Eagle Materials during the first quarter valued at about $71,199,000. Captrust Financial Advisors grew its holdings in Eagle Materials by 61.6% during the 1st quarter. Captrust Financial Advisors now owns 509,605 shares of the construction company’s stock worth $138,485,000 after acquiring an additional 194,342 shares during the period. Jupiter Asset Management Ltd. grew its holdings in shares of Eagle Materials by 3,537.5% in the 1st 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. grew its holdings in shares of Eagle Materials by 25.2% in the 2nd 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. boosted its stake in Eagle Materials by 33.4% in the 2nd 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 period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Eagle Materials Stock Performance

Shares of EXP stock traded down $5.86 on Tuesday, reaching $291.27. The stock had a trading volume of 163,485 shares, compared to its average volume of 306,644. Eagle Materials Inc. has a 1 year low of $145.03 and a 1 year high of $306.36. The company has a 50 day simple moving average of $271.41 and a 200 day simple moving average of $251.33. The stock has a market cap of $9.86 billion, a P/E ratio of 21.32 and a beta of 1.32. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.17 and a current ratio of 2.45.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings data on Tuesday, July 30th. The construction company reported $3.94 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.37. The company had revenue of $608.69 million for the quarter, compared to analysts’ expectations of $622.06 million. Eagle Materials had a return on equity of 37.10% and a net margin of 21.65%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $3.55 earnings per share. Equities research analysts expect that Eagle Materials Inc. will post 15.9 EPS for the current year.

Eagle Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.34%. Eagle Materials’s dividend payout ratio is currently 7.34%.

Wall Street Analyst Weigh In

EXP has been the topic of a number of research analyst reports. Raymond James cut shares of Eagle Materials from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. Stephens increased their price objective on shares of Eagle Materials from $280.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. lifted their target price on shares of Eagle Materials from $270.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Jefferies Financial Group raised their price target on shares of Eagle Materials from $309.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Citigroup lifted their price objective on shares of Eagle Materials from $252.00 to $311.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eagle Materials has an average rating of “Moderate Buy” and an average target price of $297.78.

Insider Activity

In related news, Director George John Damiris sold 1,000 shares of the firm’s 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 completion of the transaction, the director now owns 7,943 shares in the company, 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 SEC, which is available at this link. In other Eagle Materials news, Director George John Damiris sold 1,000 shares of the firm’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 value of $277,620.00. Following 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Dale Craig Kesler sold 5,000 shares of Eagle Materials stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $266.76, for a total transaction of $1,333,800.00. Following the sale, the chief financial officer now directly owns 60,488 shares in the company, valued at approximately $16,135,778.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,851 shares of company stock worth $2,124,258. Insiders own 1.60% of the company’s stock.

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.