CIBC Asset Management Inc Grows Position in Eagle Materials Inc. (NYSE:EXP)

CIBC Asset Management Inc increased its position in Eagle Materials Inc. (NYSE:EXP) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,086 shares of the construction company’s stock after buying an additional 54 shares during the quarter. CIBC Asset Management Inc’s holdings in Eagle Materials were worth $268,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Barclays PLC grew its holdings in Eagle Materials by 78.1% in the 3rd quarter. Barclays PLC now owns 37,948 shares of the construction company’s stock worth $10,915,000 after acquiring an additional 16,645 shares during the last quarter. Baupost Group LLC MA grew its stake in shares of Eagle Materials by 46.2% in the third quarter. Baupost Group LLC MA now owns 500,273 shares of the construction company’s stock worth $143,904,000 after purchasing an additional 158,171 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Eagle Materials in the third quarter worth about $920,000. Natixis Advisors LLC increased its holdings in Eagle Materials by 11.8% during the 3rd quarter. Natixis Advisors LLC now owns 27,265 shares of the construction company’s stock valued at $7,843,000 after purchasing an additional 2,871 shares during the period. Finally, Advantage Alpha Capital Partners LP bought a new position in Eagle Materials during the 3rd quarter valued at approximately $4,041,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Trading Up 1.4 %

Shares of NYSE EXP opened at $227.29 on Tuesday. Eagle Materials Inc. has a 1 year low of $211.44 and a 1 year high of $321.93. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.76 and a quick ratio of 1.01. The firm has a 50-day moving average of $249.87 and a 200 day moving average of $270.62. The stock has a market cap of $7.57 billion, a P/E ratio of 16.24 and a beta of 1.37.

Eagle Materials (NYSE:EXP) last released its earnings results on Wednesday, January 29th. The construction company reported $3.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.97 by ($0.38). Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. As a group, sell-side analysts expect that Eagle Materials Inc. will post 14.39 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 17th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Eagle Materials’s dividend payout ratio is currently 7.14%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Stephens reiterated an “overweight” rating and issued a $310.00 price objective on shares of Eagle Materials in a research report on Thursday, January 30th. The Goldman Sachs Group lifted their price target on shares of Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group lowered shares of Eagle Materials from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $330.00 to $310.00 in a report on Monday, December 16th. Loop Capital lowered shares of Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 target price on the stock. in a research note on Monday, November 25th. Finally, Truist Financial boosted their price target on shares of Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $296.80.

Insider Transactions at Eagle Materials

In other news, Director Michael R. Nicolais purchased 310 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were bought at an average price of $257.36 per share, for a total transaction of $79,781.60. Following the purchase, the director now directly owns 3,655 shares in the company, valued at approximately $940,650.80. This trade represents a 9.27 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

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, 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.