Eagle Materials Inc $EXP Stock: Skylands Capital LLC Increases Holdings

Skylands Capital LLC boosted its position in shares of Eagle Materials Inc (NYSE:EXP) by 12.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,900 shares of the construction company’s stock after buying an additional 4,600 shares during the period. Skylands Capital LLC owned approximately 0.14% of Eagle Materials worth $7,166,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Squarepoint Ops LLC lifted its position in shares of Eagle Materials by 87.2% during the 2nd quarter. Squarepoint Ops LLC now owns 15,356 shares of the construction company’s stock worth $3,455,000 after buying an additional 7,155 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Eagle Materials by 5,116.3% during the 1st quarter. Fifth Third Bancorp now owns 25,612 shares of the construction company’s stock valued at $4,852,000 after acquiring an additional 25,121 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Eagle Materials during the 2nd quarter valued at $66,255,000. Legal & General Group Plc bought a new stake in Eagle Materials during the 2nd quarter worth $8,280,000. Finally, Hsbc Holdings PLC grew its position in Eagle Materials by 109.9% during the 2nd quarter. Hsbc Holdings PLC now owns 19,023 shares of the construction company’s stock worth $4,274,000 after acquiring an additional 9,960 shares during the last quarter. 96.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EXP. Royal Bank Of Canada lowered their target price on Eagle Materials from $219.00 to $170.00 and set a “sector perform” rating for the company in a report on Friday, October 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Eagle Materials in a research report on Friday, September 11th. Wells Fargo & Company cut their price target on Eagle Materials from $196.00 to $188.00 and set an “equal weight” rating on the stock in a research note on Monday, October 5th. Zacks Research lowered Eagle Materials from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th. Finally, Truist Financial reduced their price target on Eagle Materials from $210.00 to $165.00 and set a “hold” rating on the stock in a report on Thursday, October 8th. Nine investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $199.56.

Eagle Materials Price Performance

Shares of NYSE:EXP opened at $173.38 on Thursday. The firm has a market cap of $5.32 billion, a PE ratio of 13.71 and a beta of 1.33. The firm’s fifty day moving average is $183.95 and its 200-day moving average is $200.91. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.91 and a current ratio of 3.23. Eagle Materials Inc has a 52 week low of $160.02 and a 52 week high of $245.53.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.29 earnings per share for the quarter, missing the consensus estimate of $3.37 by ($0.08). The business had revenue of $650.97 million during the quarter, compared to the consensus estimate of $620.35 million. Eagle Materials had a return on equity of 26.87% and a net margin of 17.32%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.76 EPS. Sell-side analysts predict that Eagle Materials Inc will post 12.34 earnings per share for the current year.

Eagle Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 13th. Shareholders of record on Monday, September 14th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, September 14th. This represents a $1.00 annualized dividend and a yield of 0.6%. Eagle Materials’s payout ratio is presently 7.91%.

Insider Buying and Selling

In other Eagle Materials news, SVP Tony Thompson sold 3,074 shares of Eagle Materials stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $203.96, for a total transaction of $626,973.04. Following the transaction, the senior vice president directly owned 10,142 shares of the company’s stock, valued at approximately $2,068,562.32. The trade was a 23.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.70% of the company’s stock.

About Eagle Materials

Eagle Materials Inc (NYSE: EXP) is a U.S.-based manufacturer of building materials used in residential, commercial, infrastructure and industrial construction. The company’s principal products include cement, gypsum wallboard, concrete and aggregates.

Its cement business produces and distributes Portland cement and related cement products, while its gypsum wallboard business supplies panels used in interior construction. Eagle Materials also provides ready-mixed concrete and construction aggregates, including crushed stone, sand and gravel, for building and infrastructure projects.

The company traces its history to Centex Construction Products, which was spun off from Centex Corporation in 1994 and later adopted the Eagle Materials name.