Janney Montgomery Scott LLC Has $645,000 Position in Eagle Materials Inc. (NYSE:EXP)

Janney Montgomery Scott LLC lessened its stake in Eagle Materials Inc. (NYSE:EXP) by 61.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,615 shares of the construction company’s stock after selling 4,148 shares during the period. Janney Montgomery Scott LLC’s holdings in Eagle Materials were worth $645,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Eagle Materials by 30.1% during the 3rd quarter. FMR LLC now owns 3,801,257 shares of the construction company’s stock valued at $1,093,432,000 after purchasing an additional 878,400 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Eagle Materials by 60.3% in the third quarter. JPMorgan Chase & Co. now owns 1,735,133 shares of the construction company’s stock valued at $499,111,000 after buying an additional 652,836 shares in the last quarter. Baupost Group LLC MA boosted its stake in Eagle Materials by 46.2% during the 3rd quarter. Baupost Group LLC MA now owns 500,273 shares of the construction company’s stock valued at $143,904,000 after purchasing an additional 158,171 shares during the last quarter. World Investment Advisors LLC bought a new stake in Eagle Materials during the third quarter worth $34,846,000. Finally, Merewether Investment Management LP purchased a new stake in shares of Eagle Materials in the third quarter valued at about $22,552,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

Insider Activity at Eagle Materials

In other Eagle Materials news, Director Richard Ross Stewart sold 3,577 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $300.30, for a total value of $1,074,173.10. Following the sale, the director now owns 1,100 shares in the company, valued at approximately $330,330. This represents a 76.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Haack sold 11,888 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $310.50, for a total transaction of $3,691,224.00. Following the transaction, the chief executive officer now directly owns 85,811 shares of the company’s stock, valued at $26,644,315.50. This represents a 12.17 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Eagle Materials Price Performance

Shares of NYSE:EXP opened at $256.05 on Friday. The stock has a market cap of $8.52 billion, a PE ratio of 18.29 and a beta of 1.37. The company’s fifty day moving average is $259.42 and its 200 day moving average is $270.59. The company has a quick ratio of 1.01, a current ratio of 2.76 and a debt-to-equity ratio of 0.66. Eagle Materials Inc. has a 52 week low of $211.44 and a 52 week high of $321.93.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Wednesday, January 29th. The construction company reported $3.59 EPS for the quarter, missing analysts’ consensus estimates of $3.97 by ($0.38). Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. Research analysts anticipate that Eagle Materials Inc. will post 14.6 earnings per share for the current year.

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 17th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Monday, March 17th. Eagle Materials’s dividend payout ratio (DPR) is currently 7.14%.

Analyst Ratings Changes

Several research firms have weighed in on EXP. Loop Capital cut Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price objective on the stock. in a research report on Monday, November 25th. Jefferies Financial Group downgraded Eagle Materials from a “buy” rating to a “hold” rating and dropped their target price for the stock from $330.00 to $310.00 in a research report on Monday, December 16th. Stephens reaffirmed an “overweight” rating and set a $310.00 price objective on shares of Eagle Materials in a research note on Thursday, January 30th. The Goldman Sachs Group upped their target price on Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Truist Financial lifted their price objective on shares of Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $296.80.

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.