Oppenheimer & Co. Inc. Reduces Stock Holdings in Eagle Materials Inc. (NYSE:EXP)

Oppenheimer & Co. Inc. reduced its holdings in Eagle Materials Inc. (NYSE:EXP) by 1.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,815 shares of the construction company’s stock after selling 90 shares during the period. Oppenheimer & Co. Inc.’s holdings in Eagle Materials were worth $1,385,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Epoch Investment Partners Inc. boosted its holdings in shares of Eagle Materials by 25.2% in the 2nd quarter. Epoch Investment Partners Inc. now owns 805,257 shares of the construction company’s stock valued at $175,111,000 after acquiring an additional 162,049 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in Eagle Materials by 4.9% during the second quarter. William Blair Investment Management LLC now owns 595,276 shares of the construction company’s stock worth $129,449,000 after buying an additional 28,003 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Eagle Materials by 33.4% during the second quarter. Federated Hermes Inc. now owns 529,701 shares of the construction company’s stock worth $115,189,000 after buying an additional 132,677 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Eagle Materials by 61.6% during the first quarter. Captrust Financial Advisors now owns 509,605 shares of the construction company’s stock worth $138,485,000 after buying an additional 194,342 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Eagle Materials by 1.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 351,258 shares of the construction company’s stock worth $95,455,000 after buying an additional 3,897 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Trading Down 0.3 %

Shares of EXP opened at $300.24 on Tuesday. The company has a current ratio of 2.34, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $10.07 billion, a P/E ratio of 21.20 and a beta of 1.32. The firm has a 50-day moving average price of $290.07 and a 200 day moving average price of $257.56. Eagle Materials Inc. has a 12-month low of $173.05 and a 12-month high of $317.00.

Eagle Materials (NYSE:EXP) last announced its earnings results on Tuesday, October 29th. The construction company reported $4.31 earnings per share for the quarter, missing the consensus estimate of $4.75 by ($0.44). The company had revenue of $623.62 million for the quarter, compared to analysts’ expectations of $651.46 million. Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the business earned $4.28 EPS. Sell-side analysts forecast that Eagle Materials Inc. will post 15.24 EPS for the current year.

Eagle Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.33%. The ex-dividend date is Monday, December 16th. Eagle Materials’s dividend payout ratio (DPR) is presently 7.06%.

Insiders Place Their Bets

In other news, SVP Tony Thompson sold 1,401 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $314.00, for a total value of $439,914.00. Following the completion of the transaction, the senior vice president now owns 13,212 shares of the company’s stock, valued at approximately $4,148,568. This trade represents a 9.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director George John Damiris sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $277.62, for a total transaction of $277,620.00. Following the completion of the transaction, the director now directly owns 7,943 shares of the company’s stock, valued at approximately $2,205,135.66. The trade was a 11.18 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Stephens increased their price target on shares of Eagle Materials from $280.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. increased their price target on shares of Eagle Materials from $270.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Jefferies Financial Group upped their price objective on shares of Eagle Materials from $309.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Citigroup upped their price objective on shares of Eagle Materials from $252.00 to $311.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $303.78.

About Eagle Materials

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.