Eagle Materials Inc. (NYSE:EXP) Position Trimmed by Citigroup Inc.

Posted by Defense World Staff on Sep 5th, 2023

Citigroup Inc. decreased its holdings in shares of Eagle Materials Inc. (NYSE:EXP – Free Report) by 19.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,032 shares of the construction company’s stock after selling 5,596 shares during the period. Citigroup Inc. owned about 0.06% of Eagle Materials worth $3,380,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in EXP. Point72 Middle East FZE bought a new stake in Eagle Materials during the fourth quarter valued at $31,000. Global Retirement Partners LLC grew its position in shares of Eagle Materials by 681.5% during the first quarter. Global Retirement Partners LLC now owns 211 shares of the construction company’s stock worth $32,000 after acquiring an additional 184 shares during the last quarter. Byrne Asset Management LLC bought a new position in shares of Eagle Materials during the first quarter worth about $34,000. Harbor Investment Advisory LLC bought a new position in shares of Eagle Materials during the first quarter worth about $34,000. Finally, Parallel Advisors LLC grew its position in shares of Eagle Materials by 372.7% during the first quarter. Parallel Advisors LLC now owns 312 shares of the construction company’s stock worth $46,000 after acquiring an additional 246 shares during the last quarter. Institutional investors own 92.57% of the company’s stock.

Eagle Materials Price Performance

Shares of NYSE EXP opened at $194.78 on Tuesday. Eagle Materials Inc. has a twelve month low of $101.98 and a twelve month high of $195.96. The company has a current ratio of 2.68, a quick ratio of 1.36 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $6.90 billion, a price-to-earnings ratio of 14.86 and a beta of 1.34. The firm has a 50-day moving average of $184.95 and a two-hundred day moving average of $163.26.

Eagle Materials (NYSE:EXP – Get Free Report) last posted its quarterly earnings data on Thursday, July 27th. The construction company reported $3.55 EPS for the quarter, beating analysts’ consensus estimates of $3.54 by $0.01. Eagle Materials had a net margin of 21.82% and a return on equity of 40.68%. The company had revenue of $601.50 million during the quarter, compared to analyst estimates of $603.11 million. During the same period in the prior year, the firm earned $2.82 earnings per share. The business’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, analysts expect that Eagle Materials Inc. will post 13.92 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Thursday, September 14th. Eagle Materials’s dividend payout ratio is presently 7.63%.

Wall Street Analyst Weigh In

EXP has been the subject of several recent research reports. Loop Capital upped their price target on shares of Eagle Materials from $160.00 to $181.00 in a research report on Monday, May 22nd. Truist Financial increased their target price on shares of Eagle Materials from $195.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Jefferies Financial Group increased their target price on shares of Eagle Materials from $195.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, July 13th. DA Davidson increased their target price on shares of Eagle Materials from $140.00 to $175.00 in a research report on Monday, May 22nd. Finally, Raymond James increased their target price on shares of Eagle Materials from $176.00 to $193.00 and gave the company an “outperform” rating in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $199.80.

View Our Latest Report on Eagle Materials

Insider Buying and Selling at Eagle Materials

In other Eagle Materials news, EVP Matt Newby sold 5,613 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $190.00, for a total transaction of $1,066,470.00. Following the completion of the sale, the executive vice president now directly owns 21,819 shares of the company’s stock, valued at $4,145,610. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Matt Newby sold 5,613 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $4,145,610. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Ross Stewart sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was 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 directly owns 7,041 shares of the company’s stock, valued at $1,323,637.59. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,613 shares of company stock valued at $2,477,230. 1.70% of the stock is currently owned by corporate insiders.

About Eagle Materials

(Free Report)

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.