Covea Finance Has $2.96 Million Stake in Eagle Materials Inc. (NYSE:EXP)

Covea Finance grew its holdings in Eagle Materials Inc. (NYSE:EXP) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,000 shares of the construction company’s stock after purchasing an additional 800 shares during the quarter. Covea Finance’s holdings in Eagle Materials were worth $2,961,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Capital Performance Advisors LLP acquired a new stake in Eagle Materials in the 3rd quarter valued at approximately $64,000. Quent Capital LLC grew its stake in shares of Eagle Materials by 155.3% in the third quarter. Quent Capital LLC now owns 434 shares of the construction company’s stock worth $125,000 after acquiring an additional 264 shares during the last quarter. GAMMA Investing LLC increased its position in Eagle Materials by 29.7% during the third quarter. GAMMA Investing LLC now owns 611 shares of the construction company’s stock worth $176,000 after acquiring an additional 140 shares during the period. Central Pacific Bank Trust Division raised its stake in Eagle Materials by 23.5% during the 3rd quarter. Central Pacific Bank Trust Division now owns 630 shares of the construction company’s stock valued at $181,000 after purchasing an additional 120 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd raised its stake in Eagle Materials by 789.9% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 703 shares of the construction company’s stock valued at $202,000 after purchasing an additional 624 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors.

Eagle Materials Stock Up 1.3 %

Shares of NYSE EXP opened at $242.65 on Wednesday. Eagle Materials Inc. has a 52-week low of $197.58 and a 52-week high of $321.93. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 2.34. The business has a fifty day moving average of $278.92 and a two-hundred day moving average of $266.88. The stock has a market cap of $8.14 billion, a PE ratio of 17.14 and a beta of 1.33.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $4.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.75 by ($0.44). The firm had revenue of $623.62 million for the quarter, compared to the consensus estimate of $651.46 million. Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $4.28 earnings per share. As a group, equities research analysts expect that Eagle Materials Inc. will post 15.24 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, December 16th. Eagle Materials’s payout ratio is currently 7.06%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on EXP shares. The Goldman Sachs Group boosted their price objective on shares of Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Loop Capital downgraded Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 target price on the stock. in a research report on Monday, November 25th. Jefferies Financial Group cut Eagle Materials from a “buy” rating to a “hold” rating and cut their price target for the company from $330.00 to $310.00 in a report on Monday, December 16th. Truist Financial raised their price objective on Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Citigroup cut Eagle Materials from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $334.00 to $280.00 in a research report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Eagle Materials currently has an average rating of “Hold” and a consensus price target of $301.44.

Insider Buying and Selling

In related news, CEO Michael Haack sold 11,888 shares of the company’s stock in a transaction dated 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 owns 85,811 shares in the company, valued at $26,644,315.50. This represents a 12.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Tony Thompson sold 1,401 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $314.00, for a total transaction of $439,914.00. Following the sale, the senior vice president now directly owns 13,212 shares in the company, valued at approximately $4,148,568. This represents a 9.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,866 shares of company stock worth $5,205,311 in the last three months. Insiders own 1.60% of the company’s stock.

About Eagle Materials

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.