Eagle Materials Inc $EXP Position Trimmed by Harbor Island Capital LLC

Harbor Island Capital LLC lowered its position in Eagle Materials Inc (NYSE:EXP) by 8.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,131 shares of the construction company’s stock after selling 5,026 shares during the quarter. Eagle Materials comprises about 2.4% of Harbor Island Capital LLC’s portfolio, making the stock its 13th largest position. Harbor Island Capital LLC’s holdings in Eagle Materials were worth $9,257,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Tectonic Advisors LLC raised its position in Eagle Materials by 23.6% in the 3rd quarter. Tectonic Advisors LLC now owns 14,705 shares of the construction company’s stock worth $2,515,000 after purchasing an additional 2,809 shares during the period. Gibson Capital LLC bought a new stake in Eagle Materials in the third quarter worth about $427,000. MBL Wealth LLC purchased a new position in shares of Eagle Materials during the third quarter valued at approximately $305,000. Compass Wealth Management LLC boosted its position in shares of Eagle Materials by 43.8% during the third quarter. Compass Wealth Management LLC now owns 11,200 shares of the construction company’s stock valued at $1,915,000 after buying an additional 3,412 shares during the period. Finally, Root Financial Partners LLC purchased a new position in shares of Eagle Materials during the third quarter valued at approximately $47,000. Institutional investors own 96.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EXP. Truist Financial decreased their price target on Eagle Materials from $210.00 to $165.00 and set a “hold” rating for the company in a research note on Thursday, October 8th. Citigroup cut their price objective on Eagle Materials from $232.00 to $190.00 and set a “neutral” rating on the stock in a research report on Friday, October 2nd. Zacks Research downgraded Eagle Materials from a “hold” rating to a “strong sell” rating in a research report on Friday, October 16th. JPMorgan Chase & Co. reduced their target price on Eagle Materials from $225.00 to $200.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 13th. Finally, DA Davidson decreased their target price on Eagle Materials from $220.00 to $207.00 and set a “neutral” rating for the company in a research report on Monday, September 14th. Nine analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $199.56.

Eagle Materials Price Performance

Eagle Materials stock opened at $174.55 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.23 and a quick ratio of 1.91. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 13.80 and a beta of 1.33. The firm has a 50-day moving average of $182.67 and a two-hundred day moving average of $200.65. Eagle Materials Inc has a 1 year low of $160.02 and a 1 year high of $245.53.

Eagle Materials (NYSE:EXP) last issued its earnings results on Wednesday, July 29th. The construction company reported $3.29 EPS for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.08). Eagle Materials had a return on equity of 26.87% and a net margin of 17.32%. The company had revenue of $650.97 million for the quarter, compared to analysts’ expectations of $620.35 million. During the same period last year, the business posted $3.76 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. On average, research analysts forecast that Eagle Materials Inc will post 12.34 earnings per share for the current year.

Eagle Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 13th. Investors of record on Monday, September 14th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 14th. This represents a $1.00 annualized dividend and a yield of 0.6%. Eagle Materials’s dividend payout ratio is 7.91%.

Insider Buying and Selling

In other Eagle Materials news, SVP Tony Thompson sold 3,074 shares of Eagle Materials stock in a transaction on Monday, August 24th. The stock was sold at an average price of $203.96, for a total transaction of $626,973.04. Following the completion of the sale, the senior vice president directly owned 10,142 shares of the company’s stock, valued at $2,068,562.32. The trade was a 23.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by insiders.

Eagle Materials Profile

Eagle Materials Inc (NYSE: EXP) is a U.S.-based manufacturer of building materials used in residential, commercial, infrastructure and industrial construction. The company’s principal products include cement, gypsum wallboard, concrete and aggregates.

Its cement business produces and distributes Portland cement and related cement products, while its gypsum wallboard business supplies panels used in interior construction. Eagle Materials also provides ready-mixed concrete and construction aggregates, including crushed stone, sand and gravel, for building and infrastructure projects.

The company traces its history to Centex Construction Products, which was spun off from Centex Corporation in 1994 and later adopted the Eagle Materials name.