Merewether Investment Management LP Purchases Shares of 78,400 Eagle Materials Inc. (NYSE:EXP)

Merewether Investment Management LP acquired a new stake in Eagle Materials Inc. (NYSE:EXP) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 78,400 shares of the construction company’s stock, valued at approximately $22,552,000.

Other institutional investors also recently modified their holdings of the company. McClarren Financial Advisors Inc. raised 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 valued at $47,000 after acquiring an additional 215 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Eagle Materials during the 3rd quarter worth about $64,000. GAMMA Investing LLC raised its holdings in Eagle Materials by 23.3% in the 2nd quarter. GAMMA Investing LLC now owns 471 shares of the construction company’s stock valued at $102,000 after acquiring an additional 89 shares during the period. Quent Capital LLC lifted its position in 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 acquiring an additional 264 shares during the last quarter. Finally, Blue Trust Inc. boosted 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 worth $148,000 after acquiring an additional 125 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EXP. Loop Capital downgraded Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price target for the company. in a research note on Monday, November 25th. Jefferies Financial Group boosted their target price on shares of Eagle Materials from $309.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. raised 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. The Goldman Sachs Group boosted 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. Finally, Truist Financial raised their target price on shares of Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.11.

Eagle Materials Stock Performance

NYSE:EXP opened at $302.60 on Wednesday. The stock’s 50-day moving average is $296.54 and its 200-day moving average is $260.42. The company has a current ratio of 2.34, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. Eagle Materials Inc. has a 1-year low of $182.39 and a 1-year high of $321.93. The stock has a market cap of $10.15 billion, a P/E ratio of 21.37 and a beta of 1.33.

Eagle Materials (NYSE:EXP) last posted 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). The company had revenue of $623.62 million during the quarter, compared to analyst estimates of $651.46 million. Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.28 earnings per share. Equities research analysts anticipate that Eagle Materials Inc. will post 15.24 earnings per share for the current year.

Eagle Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders 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 dividend yield of 0.33%. Eagle Materials’s dividend payout ratio is currently 7.06%.

Insider Transactions at Eagle Materials

In other Eagle Materials news, SVP Tony Thompson sold 1,401 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 of the company’s stock, valued at approximately $4,148,568. The trade was a 9.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard Ross Stewart sold 3,577 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $300.30, for a total transaction of $1,074,173.10. Following the completion of the sale, the director now owns 1,100 shares of the company’s stock, valued at approximately $330,330. This represents a 76.48 % decrease in their position. 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 90 days. 1.60% of the stock is currently owned by corporate insiders.

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.