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

Horizon Kinetics Asset Management LLC lowered its position in shares of Eagle Materials Inc. (NYSE:EXP) by 13.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 31,605 shares of the construction company’s stock after selling 4,743 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Eagle Materials were worth $9,091,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EXP. Hancock Whitney Corp lifted its position in Eagle Materials by 12.5% during the third quarter. Hancock Whitney Corp now owns 2,156 shares of the construction company’s stock valued at $620,000 after buying an additional 240 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Eagle Materials by 0.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 81,969 shares of the construction company’s stock valued at $23,579,000 after acquiring an additional 279 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in shares of Eagle Materials by 789.9% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 703 shares of the construction company’s stock valued at $202,000 after acquiring an additional 624 shares in the last quarter. Larson Financial Group LLC boosted its position in Eagle Materials by 43.1% during the 3rd quarter. Larson Financial Group LLC now owns 1,395 shares of the construction company’s stock worth $401,000 after purchasing an additional 420 shares during the period. Finally, Cerity Partners LLC increased its holdings in Eagle Materials by 23.8% in the 3rd quarter. Cerity Partners LLC now owns 13,924 shares of the construction company’s stock valued at $4,005,000 after purchasing an additional 2,679 shares in the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

Insider Activity

In other news, Director George John Damiris sold 1,000 shares of Eagle Materials stock in a transaction dated Tuesday, September 17th. The shares were 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 directly owns 7,943 shares of the company’s stock, valued at approximately $2,205,135.66. The trade was a 11.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard Ross Stewart sold 3,577 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 1,100 shares of the company’s stock, valued at approximately $330,330. This represents a 76.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,978 shares of company stock worth $1,791,707. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on EXP. Stephens boosted their price objective on Eagle Materials from $280.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. The Goldman Sachs Group boosted their price target on Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Citigroup increased their price objective on shares of Eagle Materials from $252.00 to $311.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Loop Capital cut shares of Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 target price on the stock. in a research report on Monday. Finally, Jefferies Financial Group raised their price target on shares of Eagle Materials from $309.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $304.89.

Eagle Materials Stock Down 0.1 %

Shares of NYSE:EXP opened at $313.88 on Monday. The firm has a market cap of $10.53 billion, a PE ratio of 22.20 and a beta of 1.32. The company has a fifty day simple moving average of $293.76 and a 200 day simple moving average of $258.69. The company has a current ratio of 2.34, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. Eagle Materials Inc. has a 12-month low of $177.67 and a 12-month high of $317.00.

Eagle Materials (NYSE:EXP) last issued its earnings results on Tuesday, October 29th. The construction company reported $4.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.44). The company 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 revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the company posted $4.28 EPS. On average, equities research analysts anticipate that Eagle Materials Inc. will post 15.24 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.32%. 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.