Truist Financial Corp Sells 5,699 Shares of Eagle Materials Inc. (NYSE:EXP)

Truist Financial Corp decreased its holdings in Eagle Materials Inc. (NYSE:EXP) by 13.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,226 shares of the construction company’s stock after selling 5,699 shares during the period. Truist Financial Corp owned 0.10% of Eagle Materials worth $7,145,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC bought a new position in shares of Eagle Materials during the third quarter valued at approximately $25,000. BluePath Capital Management LLC bought a new position in Eagle Materials in the 3rd quarter valued at $31,000. Planned Solutions Inc. purchased a new stake in Eagle Materials in the fourth quarter worth $35,000. Headlands Technologies LLC bought a new stake in shares of Eagle Materials during the third quarter worth $53,000. Finally, Covestor Ltd lifted its position in shares of Eagle Materials by 112.6% during the third quarter. Covestor Ltd now owns 321 shares of the construction company’s stock worth $54,000 after purchasing an additional 170 shares during the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EXP has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Eagle Materials from $200.00 to $265.00 and gave the stock a “neutral” rating in a research note on Friday, March 22nd. Citigroup lifted their price target on shares of Eagle Materials from $244.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Truist Financial increased their price objective on Eagle Materials from $290.00 to $320.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group raised their price objective on Eagle Materials from $238.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Loop Capital upgraded Eagle Materials from a “hold” rating to a “buy” rating and upped their target price for the stock from $170.00 to $240.00 in a report on Monday, January 8th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $263.50.

Insider Buying and Selling

In related news, EVP Matt Newby sold 2,940 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $251.15, for a total transaction of $738,381.00. Following the completion of the transaction, the executive vice president now owns 21,819 shares in the company, valued at approximately $5,479,841.85. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director David B. Powers sold 3,347 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $240.52, for a total transaction of $805,020.44. Following the completion of the transaction, the director now owns 655 shares in the company, valued at approximately $157,540.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Matt Newby sold 2,940 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $251.15, for a total transaction of $738,381.00. Following the transaction, the executive vice president now owns 21,819 shares of the company’s stock, valued at approximately $5,479,841.85. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Eagle Materials Price Performance

Shares of EXP stock opened at $260.89 on Friday. The stock’s 50-day moving average is $256.48 and its 200 day moving average is $216.96. Eagle Materials Inc. has a 1-year low of $145.03 and a 1-year high of $272.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.61 and a quick ratio of 1.13. The company has a market cap of $8.99 billion, a P/E ratio of 18.41 and a beta of 1.35.

Eagle Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend was Thursday, March 14th. Eagle Materials’s payout ratio is currently 7.06%.

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; 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.