Legacy Wealth Asset Management LLC Sells 397 Shares of Eagle Materials Inc. (NYSE:EXP)

Legacy Wealth Asset Management LLC lessened its stake in shares of Eagle Materials Inc. (NYSE:EXP) by 19.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,697 shares of the construction company’s stock after selling 397 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Eagle Materials were worth $419,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its stake in Eagle Materials by 7.1% in the second quarter. Commonwealth Equity Services LLC now owns 2,717 shares of the construction company’s stock valued at $591,000 after purchasing an additional 180 shares in the last quarter. American Century Companies Inc. raised its position in Eagle Materials by 18.0% during the second quarter. American Century Companies Inc. now owns 76,797 shares of the construction company’s stock valued at $16,700,000 after purchasing an additional 11,702 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Eagle Materials by 11.4% during the second quarter. Envestnet Asset Management Inc. now owns 105,768 shares of the construction company’s stock worth $23,000,000 after purchasing an additional 10,835 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Eagle Materials by 13.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,969 shares of the construction company’s stock valued at $863,000 after purchasing an additional 470 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Eagle Materials in the 2nd quarter valued at $1,409,000. 96.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on EXP shares. JPMorgan Chase & Co. upped their price objective on Eagle Materials from $290.00 to $310.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Citigroup downgraded shares of Eagle Materials from a “buy” rating to a “neutral” rating and reduced their price target for the company from $334.00 to $280.00 in a research note on Monday, January 6th. Truist Financial increased their price objective on shares of Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Jefferies Financial Group cut shares of Eagle Materials from a “buy” rating to a “hold” rating and decreased their target price for the stock from $330.00 to $310.00 in a research note on Monday, December 16th. Finally, The Goldman Sachs Group raised their price objective on Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $301.44.

Insider Activity

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

Eagle Materials Price Performance

Eagle Materials stock opened at $256.82 on Friday. The firm has a market cap of $8.61 billion, a P/E ratio of 18.14 and a beta of 1.37. The stock’s 50 day moving average is $274.37 and its 200 day moving average is $267.15. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.34 and a quick ratio of 1.14. Eagle Materials Inc. has a one year low of $198.89 and a one year high of $321.93.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Tuesday, October 29th. The construction company reported $4.31 earnings per share 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 analyst estimates of $651.46 million. Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company earned $4.28 earnings per share. As a group, research analysts expect that Eagle Materials Inc. will post 15.11 EPS for the current year.

Eagle Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 16th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Monday, December 16th. Eagle Materials’s dividend payout ratio (DPR) is presently 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, 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.