Weiss Asset Management LP Makes New $404,000 Investment in Eagle Materials Inc. (NYSE:EXP)

Weiss Asset Management LP bought a new position in Eagle Materials Inc. (NYSE:EXP) in the third quarter, Holdings Channel reports. The institutional investor bought 1,406 shares of the construction company’s stock, valued at approximately $404,000.

Other institutional investors have also modified their holdings of the company. Quantinno Capital Management LP purchased a new stake in shares of Eagle Materials in the third quarter valued at about $230,000. Redwood Investment Management LLC boosted its holdings in Eagle Materials by 4.1% in the 3rd quarter. Redwood Investment Management LLC now owns 6,685 shares of the construction company’s stock valued at $1,914,000 after purchasing an additional 264 shares during the last quarter. Merewether Investment Management LP purchased a new stake in shares of Eagle Materials in the 3rd quarter valued at approximately $22,552,000. IHT Wealth Management LLC acquired a new stake in shares of Eagle Materials during the 3rd quarter worth approximately $280,000. Finally, HighTower Advisors LLC increased its holdings in shares of Eagle Materials by 50.0% during the 3rd quarter. HighTower Advisors LLC now owns 2,887 shares of the construction company’s stock worth $828,000 after buying an additional 962 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Insider Buying and Selling at Eagle Materials

In related news, CEO Michael Haack sold 11,888 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $310.50, for a total value of $3,691,224.00. Following the transaction, the chief executive officer now owns 85,811 shares of the company’s stock, valued at $26,644,315.50. This represents a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Tony Thompson sold 1,401 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $314.00, for a total value of $439,914.00. Following the completion of the sale, the senior vice president now owns 13,212 shares in the company, valued at approximately $4,148,568. This represents a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,866 shares of company stock valued at $5,482,931 in the last quarter. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

EXP has been the subject of several analyst reports. Jefferies Financial Group increased their price objective on Eagle Materials from $309.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Truist Financial raised their price objective 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 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, November 25th. JPMorgan Chase & Co. increased their target price on shares of Eagle Materials from $290.00 to $310.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. Finally, The Goldman Sachs Group boosted their price target on shares of Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Eagle Materials has an average rating of “Moderate Buy” and a consensus price target of $307.11.

Eagle Materials Stock Down 4.0 %

Shares of EXP opened at $284.98 on Tuesday. The company’s 50-day simple moving average is $297.73 and its 200-day simple moving average is $262.22. 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 1 year low of $186.72 and a 1 year high of $321.93. The stock has a market capitalization of $9.56 billion, a PE ratio of 20.13 and a beta of 1.33.

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

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 16th will be issued 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 yield of 0.35%. Eagle Materials’s dividend payout ratio (DPR) is 7.06%.

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.