MetLife Investment Management LLC Has $2.73 Million Position in Eagle Materials Inc. (NYSE:EXP)

Posted by Defense World Staff on Feb 26th, 2023

MetLife Investment Management LLC lowered its stake in Eagle Materials Inc. (NYSE:EXP – Get Rating) by 5.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,482 shares of the construction company’s stock after selling 1,533 shares during the period. MetLife Investment Management LLC owned 0.07% of Eagle Materials worth $2,731,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of EXP. Raymond James Financial Services Advisors Inc. boosted its stake in Eagle Materials by 9.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,727 shares of the construction company’s stock valued at $1,377,000 after acquiring an additional 905 shares during the last quarter. Bank of Montreal Can boosted its stake in Eagle Materials by 4.8% in the first quarter. Bank of Montreal Can now owns 3,810 shares of the construction company’s stock valued at $511,000 after acquiring an additional 174 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Eagle Materials by 7.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,478 shares of the construction company’s stock valued at $1,858,000 after acquiring an additional 993 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in Eagle Materials by 6.5% in the first quarter. Great West Life Assurance Co. Can now owns 22,071 shares of the construction company’s stock valued at $2,913,000 after acquiring an additional 1,347 shares during the last quarter. Finally, Synovus Financial Corp boosted its stake in Eagle Materials by 162.9% in the first quarter. Synovus Financial Corp now owns 3,859 shares of the construction company’s stock valued at $501,000 after acquiring an additional 2,391 shares during the last quarter. Institutional investors and hedge funds own 93.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EXP. The Goldman Sachs Group raised their price objective on shares of Eagle Materials from $130.00 to $149.00 and gave the company a “buy” rating in a research note on Friday, January 27th. Citigroup lifted their price target on shares of Eagle Materials from $138.00 to $168.00 in a research report on Tuesday, January 10th. StockNews.com raised shares of Eagle Materials from a “hold” rating to a “buy” rating in a research report on Tuesday, December 20th. Loop Capital lifted their price target on shares of Eagle Materials from $135.00 to $145.00 in a research report on Wednesday, January 11th. Finally, Raymond James lifted their price target on shares of Eagle Materials from $140.00 to $152.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 25th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $151.13.

Insider Buying and Selling at Eagle Materials

In other Eagle Materials news, CFO Dale Craig Kesler sold 5,000 shares of Eagle Materials stock in a transaction on Friday, January 27th. The shares were sold at an average price of $141.78, for a total value of $708,900.00. Following the sale, the chief financial officer now directly owns 63,025 shares in the company, valued at approximately $8,935,684.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Eagle Materials news, CFO Dale Craig Kesler sold 5,000 shares of Eagle Materials stock in a transaction on Friday, January 27th. The shares were sold at an average price of $141.78, for a total value of $708,900.00. Following the sale, the chief financial officer now directly owns 63,025 shares in the company, valued at approximately $8,935,684.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Eric Cribbs sold 1,401 shares of Eagle Materials stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $145.39, for a total transaction of $203,691.39. Following the completion of the sale, the executive vice president now owns 16,039 shares in the company, valued at $2,331,910.21. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,992 shares of company stock worth $6,427,728. Insiders own 1.60% of the company’s stock.

Eagle Materials Trading Down 0.8 %

EXP opened at $138.76 on Friday. The stock has a market capitalization of $5.00 billion, a P/E ratio of 11.99 and a beta of 1.31. Eagle Materials Inc. has a 12 month low of $101.98 and a 12 month high of $152.15. The firm’s fifty day simple moving average is $140.62 and its 200 day simple moving average is $129.18. The company has a current ratio of 2.36, a quick ratio of 1.17 and a debt-to-equity ratio of 0.90.

Eagle Materials (NYSE:EXP – Get Rating) last posted its quarterly earnings data on Thursday, January 26th. The construction company reported $3.20 EPS for the quarter, beating the consensus estimate of $3.19 by $0.01. The business had revenue of $511.50 million for the quarter, compared to analysts’ expectations of $532.95 million. Eagle Materials had a net margin of 20.83% and a return on equity of 38.27%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.53 EPS. As a group, research analysts anticipate that Eagle Materials Inc. will post 12.17 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Friday, March 17th will be paid a $0.25 dividend. The ex-dividend date is Thursday, March 16th. This represents a $1.00 annualized dividend and a yield of 0.72%. Eagle Materials’s payout ratio is currently 8.64%.

Eagle Materials Company Profile

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Eagle Materials, Inc engages in the provision of heavy construction materials and light building materials. It operates through the following segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The Cement segment deals with the manufacture, production, distribution, and sale of Portland cement.