Eagle Materials Inc $EXP Shares Sold by Covea Finance

Covea Finance decreased its position in shares of Eagle Materials Inc (NYSE:EXP) by 12.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,000 shares of the construction company’s stock after selling 2,700 shares during the period. Covea Finance owned about 0.06% of Eagle Materials worth $4,428,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Hantz Financial Services Inc. lifted its position in shares of Eagle Materials by 7,750.0% during the second quarter. Hantz Financial Services Inc. now owns 157 shares of the construction company’s stock worth $32,000 after purchasing an additional 155 shares in the last quarter. MAI Capital Management lifted its holdings in Eagle Materials by 3,060.0% during the 2nd quarter. MAI Capital Management now owns 158 shares of the construction company’s stock worth $32,000 after buying an additional 153 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Eagle Materials by 102.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company’s stock valued at $35,000 after buying an additional 87 shares during the period. SVB Wealth LLC acquired a new position in shares of Eagle Materials in the first quarter worth $41,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Eagle Materials by 62.5% during the second quarter. Caitong International Asset Management Co. Ltd now owns 208 shares of the construction company’s stock worth $42,000 after acquiring an additional 80 shares during the period. 96.07% of the stock is owned by institutional investors and hedge funds.

Eagle Materials Stock Performance

Shares of Eagle Materials stock opened at $213.90 on Friday. The firm has a market capitalization of $6.86 billion, a P/E ratio of 15.79 and a beta of 1.37. The company has a quick ratio of 1.22, a current ratio of 2.72 and a debt-to-equity ratio of 0.83. Eagle Materials Inc has a 52 week low of $191.91 and a 52 week high of $265.42. The firm’s 50 day moving average is $217.94 and its two-hundred day moving average is $221.34.

Eagle Materials (NYSE:EXP) last issued its earnings results on Thursday, October 30th. The construction company reported $4.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.12). Eagle Materials had a net margin of 19.41% and a return on equity of 30.13%. The company had revenue of $638.91 million during the quarter, compared to analyst estimates of $635.55 million. During the same quarter in the previous year, the company posted $4.31 EPS. The company’s quarterly revenue was up 2.5% on a year-over-year basis. Research analysts forecast that Eagle Materials Inc will post 14.39 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Monday, December 15th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, December 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Eagle Materials’s payout ratio is 7.38%.

Analyst Ratings Changes

EXP has been the subject of several analyst reports. Wells Fargo & Company lowered their target price on Eagle Materials from $261.00 to $251.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Truist Financial reissued a “hold” rating and set a $210.00 price objective (down from $280.00) on shares of Eagle Materials in a research report on Friday, December 19th. Stifel Nicolaus set a $246.00 target price on shares of Eagle Materials in a report on Monday, October 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Eagle Materials in a report on Monday, December 15th. Finally, Zacks Research lowered shares of Eagle Materials from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Eagle Materials has a consensus rating of “Hold” and an average price target of $236.30.

Insider Buying and Selling at Eagle Materials

In other news, Director David E. Rush bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was purchased at an average cost of $208.08 per share, with a total value of $208,080.00. Following the transaction, the director directly owned 4,173 shares in the company, valued at $868,317.84. This trade represents a 31.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.50% of the company’s stock.

Eagle Materials Company Profile

Eagle Materials Inc (NYSE:EXP) is a Dallas, Texas–based manufacturer of building materials serving construction and heavy industry markets across the United States. The company’s primary products include portland and masonry cements, gypsum wallboard, lightweight aggregate, paperboard packaging, and roofing granules. These product lines support a wide range of end uses—from residential and commercial buildings to infrastructure projects and industrial applications.

Since its spin-off from a major homebuilding company in 2004, Eagle Materials has grown through targeted facility expansions and strategic acquisitions.