Norges Bank Makes New Investment in Eagle Materials Inc $EXP

Norges Bank purchased a new stake in Eagle Materials Inc (NYSE:EXP) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 433,554 shares of the construction company’s stock, valued at approximately $87,626,000. Norges Bank owned about 1.34% of Eagle Materials as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EXP. Hantz Financial Services Inc. raised its holdings in Eagle Materials by 7,750.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 157 shares of the construction company’s stock valued at $32,000 after buying an additional 155 shares during the period. MAI Capital Management increased its position in shares of Eagle Materials by 3,060.0% during the second quarter. MAI Capital Management now owns 158 shares of the construction company’s stock valued at $32,000 after acquiring an additional 153 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Eagle Materials in the 1st quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Eagle Materials by 62.5% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 208 shares of the construction company’s stock worth $42,000 after acquiring an additional 80 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Eagle Materials during the 2nd quarter worth approximately $63,000. 96.07% of the stock is owned by institutional investors and hedge funds.

Eagle Materials Stock Down 1.0%

EXP stock opened at $221.73 on Friday. The company’s 50 day moving average price is $222.36 and its 200 day moving average price is $220.33. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of 16.36 and a beta of 1.37. Eagle Materials Inc has a fifty-two week low of $191.91 and a fifty-two week high of $301.35. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.22 and a current ratio of 2.72.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings results on Thursday, October 30th. The construction company reported $4.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.12). Eagle Materials had a return on equity of 30.13% and a net margin of 19.41%.The firm had revenue of $638.91 million during the quarter, compared to analysts’ expectations of $635.55 million. During the same quarter in the prior year, the firm earned $4.31 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts anticipate that Eagle Materials Inc will post 14.39 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 12th. Investors of record on Monday, December 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, December 15th. Eagle Materials’s dividend payout ratio is 7.38%.

Insiders Place Their Bets

In other Eagle Materials news, Director David E. Rush purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was bought at an average cost of $208.08 per share, with a total value of $208,080.00. Following the acquisition, the director directly owned 4,173 shares of the company’s stock, valued at approximately $868,317.84. This represents a 31.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EXP. Weiss Ratings reissued a “hold (c+)” rating on shares of Eagle Materials in a research report on Monday. JPMorgan Chase & Co. cut their price objective on Eagle Materials from $245.00 to $230.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Zacks Research cut Eagle Materials from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $226.00 target price on shares of Eagle Materials in a research report on Monday, November 3rd. Finally, Citigroup reduced their price target on shares of Eagle Materials from $255.00 to $233.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $243.30.

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.