Eagle Materials Inc $EXP Shares Sold by Moran Wealth Management LLC

by · The Cerbat Gem

Moran Wealth Management LLC lowered its stake in Eagle Materials Inc (NYSE:EXP – Free Report) by 6.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,713 shares of the construction company’s stock after selling 3,008 shares during the quarter. Moran Wealth Management LLC’s holdings in Eagle Materials were worth $9,037,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of EXP. JPMorgan Chase & Co. grew its stake in shares of Eagle Materials by 18.8% in the first quarter. JPMorgan Chase & Co. now owns 2,140,621 shares of the construction company’s stock valued at $475,068,000 after buying an additional 339,089 shares in the last quarter. Baupost Group LLC MA grew its stake in shares of Eagle Materials by 42.5% in the first quarter. Baupost Group LLC MA now owns 909,633 shares of the construction company’s stock valued at $201,875,000 after buying an additional 271,410 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Eagle Materials by 198.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 306,990 shares of the construction company’s stock valued at $62,046,000 after buying an additional 204,060 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Eagle Materials by 193.4% in the first quarter. American Century Companies Inc. now owns 288,123 shares of the construction company’s stock valued at $63,944,000 after buying an additional 189,909 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Eagle Materials by 111.1% in the first quarter. Victory Capital Management Inc. now owns 331,081 shares of the construction company’s stock valued at $73,477,000 after buying an additional 174,241 shares in the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Eagle Materials from $220.00 to $245.00 and gave the company a “neutral” rating in a research note on Tuesday, August 26th. Wells Fargo & Company upgraded Eagle Materials to a “strong-buy” rating in a research note on Wednesday, October 8th. Wall Street Zen upgraded Eagle Materials from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of Eagle Materials in a research note on Wednesday, October 8th. Finally, Loop Capital raised their price objective on Eagle Materials from $230.00 to $245.00 and gave the company a “hold” rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Eagle Materials currently has a consensus rating of “Hold” and an average target price of $255.40.

Get Our Latest Stock Analysis on EXP

Eagle Materials Price Performance

Shares of EXP opened at $230.09 on Tuesday. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of 16.94 and a beta of 1.31. The stock has a 50 day moving average of $231.75 and a 200-day moving average of $221.70. The company has a current ratio of 2.73, a quick ratio of 1.26 and a debt-to-equity ratio of 0.87. Eagle Materials Inc has a 52 week low of $191.91 and a 52 week high of $321.93.

Eagle Materials (NYSE:EXP – Get Free Report) last issued its earnings results on Tuesday, July 29th. The construction company reported $3.76 EPS for the quarter, topping the consensus estimate of $3.73 by $0.03. The company had revenue of $634.69 million during the quarter, compared to analyst estimates of $611.52 million. Eagle Materials had a return on equity of 31.21% and a net margin of 19.81%. As a group, analysts forecast that Eagle Materials Inc will post 14.39 EPS for the current year.

Eagle Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Monday, September 15th will be given a $0.25 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.4%. Eagle Materials’s dividend payout ratio (DPR) is presently 7.36%.

Eagle Materials Profile

(Free Report)

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.

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