Edgestream Partners L.P. Makes New Investment in Eagle Materials Inc. (NYSE:EXP)

Edgestream Partners L.P. purchased a new position in shares of Eagle Materials Inc. (NYSE:EXP) during the third quarter, Holdings Channel.com reports. The fund purchased 717 shares of the construction company’s stock, valued at approximately $206,000.

Other hedge funds have also recently modified their holdings of the company. McClarren Financial Advisors Inc. boosted its stake in Eagle Materials by 10,750.0% in 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 in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Eagle Materials in the third quarter worth $64,000. Quent Capital LLC lifted its stake in shares of Eagle Materials by 155.3% during the third quarter. Quent Capital LLC now owns 434 shares of the construction company’s stock worth $125,000 after buying an additional 264 shares during the period. Blue Trust Inc. grew its holdings in shares of Eagle Materials by 22.5% during the second quarter. Blue Trust Inc. now owns 680 shares of the construction company’s stock valued at $148,000 after buying an additional 125 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Eagle Materials by 29.7% in the 3rd quarter. GAMMA Investing LLC now owns 611 shares of the construction company’s stock valued at $176,000 after acquiring an additional 140 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Insider Activity

In related news, CEO Michael Haack sold 11,888 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $310.50, for a total value of $3,691,224.00. Following the completion of the sale, the chief executive officer now owns 85,811 shares of the company’s stock, valued at approximately $26,644,315.50. The trade was a 12.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Ross Stewart sold 3,577 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $300.30, for a total transaction of $1,074,173.10. Following the transaction, the director now owns 1,100 shares of the company’s stock, valued at $330,330. This represents a 76.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,866 shares of company stock worth $5,482,931 over the last three months. 1.60% of the stock is currently owned by corporate insiders.

Eagle Materials Stock Performance

EXP opened at $296.70 on Friday. The firm has a fifty day moving average price of $297.79 and a 200 day moving average price of $261.58. Eagle Materials Inc. has a 1 year low of $184.68 and a 1 year high of $321.93. The stock has a market cap of $9.95 billion, a P/E ratio of 20.95 and a beta of 1.33. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.34 and a quick ratio of 1.14.

Eagle Materials (NYSE:EXP) last released 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). 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 analysts’ expectations of $651.46 million. During the same period in the previous year, the firm posted $4.28 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. Equities research analysts anticipate that Eagle Materials Inc. will post 15.24 earnings per share for the current year.

Eagle Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Monday, December 16th. Eagle Materials’s payout ratio is currently 7.06%.

Analyst Ratings Changes

A number of brokerages have commented on EXP. Truist Financial lifted their price target on Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Loop Capital downgraded 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, November 25th. Jefferies Financial Group increased 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. JPMorgan Chase & Co. lifted their price objective on shares of Eagle Materials from $290.00 to $310.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Finally, The Goldman Sachs Group upped their price objective on shares of Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $307.11.

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.