Eagle Materials Inc. (NYSE:EXP) Shares Sold by Mach 1 Financial Group LLC

Mach 1 Financial Group LLC cut its stake in Eagle Materials Inc. (NYSE:EXP) by 61.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,363 shares of the construction company’s stock after selling 2,213 shares during the period. Mach 1 Financial Group LLC’s holdings in Eagle Materials were worth $276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Asset Management One Co. Ltd. acquired a new stake in shares of Eagle Materials in the fourth quarter valued at approximately $1,085,000. NewEdge Wealth LLC increased its position in Eagle Materials by 13.4% in the 4th quarter. NewEdge Wealth LLC now owns 89,090 shares of the construction company’s stock valued at $18,071,000 after acquiring an additional 10,514 shares during the period. Louisiana State Employees Retirement System bought a new stake in Eagle Materials during the 4th quarter valued at $1,988,000. Mariner LLC boosted its position in Eagle Materials by 4.1% during the 3rd quarter. Mariner LLC now owns 9,081 shares of the construction company’s stock worth $1,512,000 after acquiring an additional 357 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Eagle Materials by 185.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 3,193 shares of the construction company’s stock worth $534,000 after purchasing an additional 2,075 shares in the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. StockNews.com cut shares of Eagle Materials from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. boosted their price target on shares of Eagle Materials from $200.00 to $265.00 and gave the stock a “neutral” rating in a research report on Friday, March 22nd. Citigroup boosted their target price on Eagle Materials from $244.00 to $311.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Raymond James increased their price target on Eagle Materials from $170.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Finally, The Goldman Sachs Group boosted their price objective on Eagle Materials from $238.00 to $273.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $263.50.

Insiders Place Their Bets

In other news, SVP Tony Thompson sold 638 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $235.07, for a total value of $149,974.66. Following the completion of the sale, the senior vice president now owns 14,393 shares of the company’s stock, valued at $3,383,362.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Tony Thompson sold 638 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $235.07, for a total value of $149,974.66. Following the completion of the sale, the senior vice president now directly owns 14,393 shares of the company’s stock, valued at approximately $3,383,362.51. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David B. Powers sold 3,347 shares of Eagle Materials stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $240.52, for a total value of $805,020.44. Following the transaction, the director now directly owns 655 shares in the company, valued at approximately $157,540.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,925 shares of company stock worth $1,693,376. Corporate insiders own 1.70% of the company’s stock.

Eagle Materials Stock Performance

Shares of EXP opened at $252.60 on Thursday. The company has a 50-day moving average of $256.13 and a two-hundred day moving average of $216.43. The stock has a market cap of $8.70 billion, a price-to-earnings ratio of 17.83 and a beta of 1.35. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.61 and a quick ratio of 1.13. Eagle Materials Inc. has a one year low of $145.03 and a one year high of $272.72.

Eagle Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Thursday, March 14th. Eagle Materials’s dividend payout ratio is 7.06%.

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; 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.