Edgestream Partners L.P. Sells 13,785 Shares of Eagle Materials Inc. (NYSE:EXP)

Edgestream Partners L.P. decreased its holdings in shares of Eagle Materials Inc. (NYSE:EXP) by 64.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 7,555 shares of the construction company’s stock after selling 13,785 shares during the period. Edgestream Partners L.P.’s holdings in Eagle Materials were worth $1,408,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Coldstream Capital Management Inc. grew its holdings in shares of Eagle Materials by 2.0% in the 2nd quarter. Coldstream Capital Management Inc. now owns 2,821 shares of the construction company’s stock valued at $526,000 after buying an additional 55 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Eagle Materials by 1.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 3,592 shares of the construction company’s stock valued at $670,000 after buying an additional 58 shares during the period. Creative Planning grew its holdings in shares of Eagle Materials by 2.8% in the 2nd quarter. Creative Planning now owns 2,559 shares of the construction company’s stock valued at $477,000 after buying an additional 69 shares during the period. Quadrant Capital Group LLC grew its holdings in shares of Eagle Materials by 13.8% in the 2nd quarter. Quadrant Capital Group LLC now owns 709 shares of the construction company’s stock valued at $132,000 after buying an additional 86 shares during the period. Finally, Harbor Investment Advisory LLC grew its holdings in shares of Eagle Materials by 39.3% in the 2nd quarter. Harbor Investment Advisory LLC now owns 319 shares of the construction company’s stock valued at $59,000 after buying an additional 90 shares during the period. Institutional investors own 92.57% of the company’s stock.

Eagle Materials Price Performance

Shares of NYSE EXP opened at $175.81 on Tuesday. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 12.88 and a beta of 1.34. The business has a 50-day moving average of $165.57 and a 200-day moving average of $173.19. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.72 and a quick ratio of 1.38. Eagle Materials Inc. has a fifty-two week low of $129.25 and a fifty-two week high of $195.96.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings data on Thursday, October 26th. The construction company reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.18 by $0.10. The company had revenue of $622.20 million during the quarter, compared to analysts’ expectations of $636.00 million. Eagle Materials had a return on equity of 40.45% and a net margin of 22.17%. Eagle Materials’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.72 EPS. As a group, sell-side analysts predict that Eagle Materials Inc. will post 14.14 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 15th will be paid a $0.25 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.00 annualized dividend and a yield of 0.57%. Eagle Materials’s dividend payout ratio (DPR) is currently 7.33%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EXP. JPMorgan Chase & Co. boosted their price target on shares of Eagle Materials from $190.00 to $200.00 and gave the company an “underweight” rating in a report on Thursday, August 24th. Truist Financial upped their target price on shares of Eagle Materials from $195.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. StockNews.com lowered shares of Eagle Materials from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. Stephens reaffirmed an “overweight” rating and issued a $230.00 target price on shares of Eagle Materials in a research note on Monday, August 21st. Finally, Citigroup upped their target price on shares of Eagle Materials from $215.00 to $219.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Eagle Materials presently has an average rating of “Moderate Buy” and a consensus target price of $197.50.

Insider Activity at Eagle Materials

In related news, EVP Matt Newby sold 5,613 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $190.00, for a total value of $1,066,470.00. Following the completion of the sale, the executive vice president now directly owns 21,819 shares in the company, valued at approximately $4,145,610. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Matt Newby sold 5,613 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $190.00, for a total value of $1,066,470.00. Following the completion of the sale, the executive vice president now directly owns 21,819 shares in the company, valued at approximately $4,145,610. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Ross Stewart sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $187.99, for a total transaction of $375,980.00. Following the completion of the sale, the director now owns 7,041 shares of the company’s stock, valued at $1,323,637.59. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company 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; 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.