M&G PLC Has $6.21 Million Position in Eagle Materials Inc $EXP

M&G PLC trimmed its stake in shares of Eagle Materials Inc (NYSE:EXP) by 14.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,726 shares of the construction company’s stock after selling 5,099 shares during the quarter. M&G PLC owned approximately 0.09% of Eagle Materials worth $6,207,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Hantz Financial Services Inc. lifted its stake in shares of Eagle Materials by 7,750.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 157 shares of the construction company’s stock valued at $32,000 after acquiring an additional 155 shares during the last quarter. SVB Wealth LLC bought a new position in Eagle Materials in the first quarter valued at about $41,000. Caitong International Asset Management Co. Ltd raised its position in Eagle Materials by 62.5% in the second quarter. Caitong International Asset Management Co. Ltd now owns 208 shares of the construction company’s stock valued at $42,000 after purchasing an additional 80 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Eagle Materials by 486.6% during the first quarter. Assetmark Inc. now owns 393 shares of the construction company’s stock valued at $87,000 after purchasing an additional 326 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Eagle Materials by 39.1% during the first quarter. Signaturefd LLC now owns 466 shares of the construction company’s stock worth $103,000 after purchasing an additional 131 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.

Eagle Materials Stock Performance

Shares of EXP stock opened at $206.88 on Thursday. The company has a current ratio of 2.73, a quick ratio of 1.26 and a debt-to-equity ratio of 0.87. The firm has a fifty day simple moving average of $228.63 and a two-hundred day simple moving average of $222.30. Eagle Materials Inc has a 12 month low of $191.91 and a 12 month high of $321.93. The firm has a market capitalization of $6.63 billion, a PE ratio of 15.23 and a beta of 1.31.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings data on Thursday, October 30th. The construction company reported $4.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.12). Eagle Materials had a net margin of 19.81% and a return on equity of 31.21%. The business had revenue of $638.91 million for the quarter, compared to analyst estimates of $635.55 million. During the same quarter in the prior year, the business earned $4.31 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. Analysts forecast that Eagle Materials Inc will post 14.39 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Monday, December 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, December 15th. Eagle Materials’s dividend payout ratio (DPR) is currently 7.38%.

Analyst Ratings Changes

A number of brokerages recently issued reports on EXP. DA Davidson dropped their price objective on shares of Eagle Materials from $245.00 to $225.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Wells Fargo & Company cut their price target on shares of Eagle Materials from $261.00 to $251.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Jefferies Financial Group reaffirmed a “hold” rating and set a $226.00 target price on shares of Eagle Materials in a research report on Monday, November 3rd. Stifel Nicolaus set a $246.00 price target on Eagle Materials in a research note on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eagle Materials in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $243.30.

Insider Activity

In related news, Director David E. Rush purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was acquired at an average cost of $208.08 per share, with a total value of $208,080.00. Following the transaction, the director owned 4,173 shares of the company’s stock, valued at $868,317.84. This represents a 31.52% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by insiders.

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.