TD Private Client Wealth LLC Sells 1,988 Shares of Eagle Materials Inc. (NYSE:EXP)

TD Private Client Wealth LLC lessened its stake in shares of Eagle Materials Inc. (NYSE:EXP) by 61.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,251 shares of the construction company’s stock after selling 1,988 shares during the period. TD Private Client Wealth LLC’s holdings in Eagle Materials were worth $360,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of EXP. FMR LLC lifted its holdings in shares of Eagle Materials by 30.1% in the 3rd quarter. FMR LLC now owns 3,801,257 shares of the construction company’s stock worth $1,093,432,000 after buying an additional 878,400 shares during the period. Epoch Investment Partners Inc. lifted its stake in Eagle Materials by 25.2% in the second quarter. Epoch Investment Partners Inc. now owns 805,257 shares of the construction company’s stock worth $175,111,000 after acquiring an additional 162,049 shares during the period. Baupost Group LLC MA lifted its stake in Eagle Materials by 46.2% in the third quarter. Baupost Group LLC MA now owns 500,273 shares of the construction company’s stock worth $143,904,000 after acquiring an additional 158,171 shares during the period. Federated Hermes Inc. increased its position in Eagle Materials by 33.4% during the 2nd quarter. Federated Hermes Inc. now owns 529,701 shares of the construction company’s stock valued at $115,189,000 after purchasing an additional 132,677 shares during the period. Finally, World Investment Advisors LLC bought a new stake in shares of Eagle Materials in the 3rd quarter valued at about $34,846,000. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Insider Buying and Selling at Eagle Materials

In other Eagle Materials news, CEO Michael Haack sold 11,888 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $310.50, for a total transaction of $3,691,224.00. Following the completion of the transaction, the chief executive officer now directly owns 85,811 shares of the company’s stock, valued at approximately $26,644,315.50. This trade represents a 12.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Tony Thompson sold 1,401 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $314.00, for a total transaction of $439,914.00. Following the completion of the sale, the senior vice president now directly owns 13,212 shares in the company, valued at $4,148,568. This trade represents a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,866 shares of company stock worth $5,482,931. 1.60% of the stock is currently owned by insiders.

Eagle Materials Stock Performance

Shares of Eagle Materials stock opened at $273.32 on Friday. The company has a 50 day moving average price of $297.21 and a 200 day moving average price of $263.17. The firm has a market capitalization of $9.17 billion, a P/E ratio of 19.30 and a beta of 1.33. The company has a quick ratio of 1.14, a current ratio of 2.34 and a debt-to-equity ratio of 0.74. Eagle Materials Inc. has a 52 week low of $193.95 and a 52 week high of $321.93.

Eagle Materials (NYSE:EXP) last posted its quarterly 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 analysts’ expectations of $651.46 million. Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $4.28 EPS. Sell-side analysts expect that Eagle Materials Inc. will post 15.24 EPS for the current year.

Eagle Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.37%. Eagle Materials’s dividend payout ratio is currently 7.06%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, November 4th. The Goldman Sachs Group increased their target price on Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Loop Capital lowered Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price target for the company. in a research report on Monday, November 25th. JPMorgan Chase & Co. raised their price objective on Eagle Materials from $290.00 to $310.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Finally, Jefferies Financial Group boosted 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. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $307.11.

Eagle Materials 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.