Trexquant Investment LP Takes $1.12 Million Position in Eagle Materials Inc. (NYSE:EXP)

Posted by Defense World Staff on Mar 14th, 2023

Trexquant Investment LP acquired a new stake in shares of Eagle Materials Inc. (NYSE:EXP – Get Rating) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,405 shares of the construction company’s stock, valued at approximately $1,115,000.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Eagle Materials by 3.0% during the third quarter. Vanguard Group Inc. now owns 3,841,414 shares of the construction company’s stock valued at $411,723,000 after buying an additional 110,695 shares during the last quarter. State Street Corp boosted its holdings in Eagle Materials by 0.3% in the first quarter. State Street Corp now owns 1,056,912 shares of the construction company’s stock valued at $135,929,000 after purchasing an additional 3,684 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Eagle Materials by 13.7% in the third quarter. Victory Capital Management Inc. now owns 995,256 shares of the construction company’s stock valued at $106,672,000 after purchasing an additional 119,576 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Eagle Materials by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 610,973 shares of the construction company’s stock valued at $65,485,000 after purchasing an additional 11,938 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Eagle Materials by 1.0% in the third quarter. Prudential Financial Inc. now owns 578,183 shares of the construction company’s stock valued at $61,968,000 after purchasing an additional 5,838 shares during the last quarter. 93.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eagle Materials

In other Eagle Materials news, CEO Michael Haack sold 18,608 shares of the stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $144.76, for a total value of $2,693,694.08. Following the completion of the sale, the chief executive officer now owns 89,542 shares in the company, valued at approximately $12,962,099.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Michael Haack sold 18,608 shares of the stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $144.76, for a total value of $2,693,694.08. Following the completion of the sale, the chief executive officer now owns 89,542 shares of the company’s stock, valued at approximately $12,962,099.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Tony Thompson sold 2,803 shares of the stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $150.00, for a total transaction of $420,450.00. Following the completion of the sale, the senior vice president now directly owns 12,934 shares of the company’s stock, valued at approximately $1,940,100. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,992 shares of company stock worth $6,427,728. Insiders own 1.60% of the company’s stock.

Eagle Materials Stock Down 1.5 %

EXP opened at $133.90 on Tuesday. Eagle Materials Inc. has a twelve month low of $101.98 and a twelve month high of $152.15. The company has a quick ratio of 1.17, a current ratio of 2.36 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average price of $142.62 and a 200 day moving average price of $129.98. The company has a market cap of $4.83 billion, a PE ratio of 11.57 and a beta of 1.30.

Eagle Materials (NYSE:EXP – Get Rating) last released its quarterly earnings results on Thursday, January 26th. The construction company reported $3.20 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.01. The firm had revenue of $511.50 million during the quarter, compared to the consensus estimate of $532.95 million. Eagle Materials had a net margin of 20.83% and a return on equity of 38.27%. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.53 EPS. Sell-side analysts expect that Eagle Materials Inc. will post 12.18 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Friday, March 17th will be issued a $0.25 dividend. The ex-dividend date is Thursday, March 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.75%. Eagle Materials’s payout ratio is 8.64%.

Analyst Ratings Changes

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

About Eagle Materials

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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.