Victory Capital Management Inc. Trims Stake in Eagle Materials Inc. (NYSE:EXP)

Victory Capital Management Inc. reduced its stake in shares of Eagle Materials Inc. (NYSE:EXP) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 145,070 shares of the construction company’s stock after selling 6,415 shares during the quarter. Victory Capital Management Inc. owned 0.43% of Eagle Materials worth $41,729,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Epoch Investment Partners Inc. raised its position in Eagle Materials by 25.2% during the second 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 in the last quarter. William Blair Investment Management LLC increased its position in shares of Eagle Materials by 4.9% in the second quarter. William Blair Investment Management LLC now owns 595,276 shares of the construction company’s stock valued at $129,449,000 after buying an additional 28,003 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Eagle Materials by 33.4% in the second quarter. Federated Hermes Inc. now owns 529,701 shares of the construction company’s stock valued at $115,189,000 after buying an additional 132,677 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Eagle Materials by 61.6% in the first quarter. Captrust Financial Advisors now owns 509,605 shares of the construction company’s stock valued at $138,485,000 after buying an additional 194,342 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Eagle Materials by 1.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 351,258 shares of the construction company’s stock valued at $95,455,000 after buying an additional 3,897 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Materials Stock Performance

NYSE EXP opened at $301.67 on Friday. The stock’s fifty day moving average is $288.92 and its two-hundred day moving average is $257.18. The firm has a market capitalization of $10.12 billion, a P/E ratio of 21.30 and a beta of 1.32. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 2.34. Eagle Materials Inc. has a fifty-two week low of $172.20 and a fifty-two week high of $317.00.

Eagle Materials (NYSE:EXP) last posted its earnings results on Tuesday, October 29th. The construction company reported $4.31 EPS for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.44). Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. The business had revenue of $623.62 million during the quarter, compared to analysts’ expectations of $651.46 million. During the same quarter in the prior year, the firm earned $4.28 EPS. Eagle Materials’s revenue for the quarter was up .2% compared to the same quarter last year. On average, research analysts anticipate that Eagle Materials Inc. will post 15.24 earnings per share for the current year.

Eagle Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 16th will be given a $0.25 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.33%. Eagle Materials’s dividend payout ratio is currently 7.06%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Truist Financial boosted their price objective on Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. lifted their price target on Eagle Materials from $270.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group lifted their price target on Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their price target on Eagle Materials from $309.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Stephens lifted their price target on Eagle Materials from $280.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Eagle Materials has an average rating of “Moderate Buy” and an average target price of $303.78.

Insider Buying and Selling at Eagle Materials

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

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.