NewEdge Wealth LLC Boosts Holdings in Eagle Materials Inc. (NYSE:EXP)

NewEdge Wealth LLC lifted its stake in shares of Eagle Materials Inc. (NYSE:EXP) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,967 shares of the construction company’s stock after acquiring an additional 4,824 shares during the period. NewEdge Wealth LLC’s holdings in Eagle Materials were worth $27,135,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Sprott Inc. increased its position in Eagle Materials by 3.0% during the fourth quarter. Sprott Inc. now owns 1,695 shares of the construction company’s stock worth $418,000 after purchasing an additional 50 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Eagle Materials during the 4th quarter valued at $170,000. Truist Financial Corp increased its holdings in shares of Eagle Materials by 1.1% during the 4th quarter. Truist Financial Corp now owns 19,610 shares of the construction company’s stock worth $4,839,000 after buying an additional 219 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Eagle Materials by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,086 shares of the construction company’s stock worth $268,000 after buying an additional 54 shares during the period. Finally, Monument Capital Management boosted its holdings in Eagle Materials by 1.2% in the fourth quarter. Monument Capital Management now owns 12,083 shares of the construction company’s stock valued at $2,982,000 after acquiring an additional 141 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Eagle Materials Trading Up 0.4 %

NYSE:EXP opened at $228.59 on Thursday. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 16.33 and a beta of 1.37. Eagle Materials Inc. has a one year low of $211.44 and a one year high of $321.93. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 2.76. The business’s 50-day simple moving average is $248.53 and its 200 day simple moving average is $270.22.

Eagle Materials (NYSE:EXP) last announced its earnings results on Wednesday, January 29th. The construction company reported $3.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.97 by ($0.38). Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. As a group, sell-side analysts predict that Eagle Materials Inc. will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 17th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, March 17th. Eagle Materials’s dividend payout ratio is currently 7.14%.

Insider Transactions at Eagle Materials

In other news, Director Michael R. Nicolais purchased 310 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average cost of $257.36 per share, for a total transaction of $79,781.60. Following the completion of the purchase, the director now owns 3,655 shares of the company’s stock, valued at approximately $940,650.80. This trade represents a 9.27 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on EXP shares. The Goldman Sachs Group raised their price objective on Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Truist Financial lifted their target price on shares of Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. upped their price target on shares of Eagle Materials from $290.00 to $310.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Stephens reissued an “overweight” rating and issued a $310.00 price objective on shares of Eagle Materials in a research report on Thursday, January 30th. Finally, Citigroup downgraded Eagle Materials from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $334.00 to $280.00 in a research report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $296.80.

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.