Eagle Materials Inc. (NYSE:EXP) Stake Increased by Whittier Trust Co.

21 Oct 2024, 20:06 by Tristan Rich · The Markets Daily

Whittier Trust Co. lifted its holdings in Eagle Materials Inc. (NYSE:EXP – Free Report) by 4.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,337 shares of the construction company’s stock after buying an additional 3,101 shares during the period. Whittier Trust Co. owned about 0.20% of Eagle Materials worth $19,944,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. GAMMA Investing LLC raised its position in Eagle Materials by 16.5% during the first quarter. GAMMA Investing LLC now owns 382 shares of the construction company’s stock valued at $104,000 after acquiring an additional 54 shares in the last quarter. Ballentine Partners LLC acquired a new position in Eagle Materials during the 1st quarter worth $216,000. Global Assets Advisory LLC bought a new stake in Eagle Materials during the first quarter valued at about $3,593,000. Wealthcare Advisory Partners LLC grew its position in shares of Eagle Materials by 3.7% in the first quarter. Wealthcare Advisory Partners LLC now owns 1,277 shares of the construction company’s stock valued at $347,000 after purchasing an additional 45 shares during the last quarter. Finally, Ausbil Investment Management Ltd increased its stake in shares of Eagle Materials by 23.9% in the first quarter. Ausbil Investment Management Ltd now owns 11,485 shares of the construction company’s stock worth $3,099,000 after purchasing an additional 2,214 shares during the period. 96.07% of the stock is owned by institutional investors and hedge funds.

Eagle Materials Trading Down 1.8 %

Shares of NYSE:EXP traded down $5.45 during midday trading on Monday, hitting $297.44. The company had a trading volume of 102,695 shares, compared to its average volume of 306,730. The firm has a fifty day simple moving average of $270.26 and a 200 day simple moving average of $251.17. The stock has a market cap of $10.07 billion, a price-to-earnings ratio of 22.24 and a beta of 1.32. The company has a current ratio of 2.45, a quick ratio of 1.17 and a debt-to-equity ratio of 0.81. Eagle Materials Inc. has a 12 month low of $145.03 and a 12 month high of $306.36.

Eagle Materials (NYSE:EXP – Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $3.94 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.37. The company had revenue of $608.69 million during 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%. Eagle Materials’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $3.55 EPS. On average, analysts predict that Eagle Materials Inc. will post 15.9 EPS for the current year.

Eagle Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Tuesday, September 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Tuesday, September 17th. Eagle Materials’s dividend payout ratio is presently 7.34%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EXP. Stephens boosted their target price on shares of Eagle Materials from $280.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Citigroup increased their price target on shares of Eagle Materials from $252.00 to $311.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upped their price target on Eagle Materials from $270.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Raymond James cut Eagle Materials from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Jefferies Financial Group upped their target price 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. Three 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $297.78.

Get Our Latest Research Report on EXP

Insider Buying and Selling

In other Eagle Materials news, CFO Dale Craig Kesler sold 5,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $16,135,778.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Eric Cribbs sold 1,851 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $277.06, for a total transaction of $512,838.06. Following the transaction, the insider now directly owns 13,937 shares of the company’s stock, valued at approximately $3,861,385.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dale Craig Kesler sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was 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 owns 60,488 shares of the company’s stock, valued at approximately $16,135,778.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,851 shares of company stock worth $2,124,258. 1.60% of the stock is owned by insiders.

About Eagle Materials

(Free Report)

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.