Geode Capital Management LLC Has $150.75 Million Stock Holdings in Eagle Materials Inc $EXP

Geode Capital Management LLC trimmed its stake in shares of Eagle Materials Inc (NYSE:EXP) by 2.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 745,787 shares of the construction company’s stock after selling 19,456 shares during the quarter. Geode Capital Management LLC’s holdings in Eagle Materials were worth $150,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Sheets Smith Wealth Management increased its position in Eagle Materials by 2.0% during the 2nd quarter. Sheets Smith Wealth Management now owns 2,750 shares of the construction company’s stock valued at $556,000 after purchasing an additional 54 shares during the period. ProShare Advisors LLC boosted its stake in shares of Eagle Materials by 3.9% in the 2nd quarter. ProShare Advisors LLC now owns 1,474 shares of the construction company’s stock valued at $298,000 after purchasing an additional 56 shares during the last quarter. Blue Trust Inc. increased its position in shares of Eagle Materials by 5.2% during the second quarter. Blue Trust Inc. now owns 1,146 shares of the construction company’s stock worth $232,000 after buying an additional 57 shares during the period. Fulton Bank N.A. raised its stake in Eagle Materials by 6.1% during the second quarter. Fulton Bank N.A. now owns 1,084 shares of the construction company’s stock worth $219,000 after buying an additional 62 shares during the last quarter. Finally, Tectonic Advisors LLC lifted its holdings in Eagle Materials by 0.6% in the second quarter. Tectonic Advisors LLC now owns 9,652 shares of the construction company’s stock valued at $1,951,000 after buying an additional 62 shares during the period. 96.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director David E. Rush purchased 1,000 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was acquired at an average price of $208.08 per share, for a total transaction of $208,080.00. Following the purchase, the director owned 4,173 shares of the company’s stock, valued at approximately $868,317.84. This trade represents a 31.52% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.50% of the company’s stock.

Eagle Materials Price Performance

Shares of NYSE:EXP opened at $201.17 on Wednesday. Eagle Materials Inc has a twelve month low of $191.91 and a twelve month high of $321.93. The stock’s 50 day moving average is $225.92 and its 200-day moving average is $221.57. The company has a quick ratio of 1.26, a current ratio of 2.73 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $6.45 billion, a price-to-earnings ratio of 14.81 and a beta of 1.31.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Thursday, October 30th. The construction company reported $4.23 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 the consensus estimate of $635.55 million. During the same quarter last year, the firm posted $4.31 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. Sell-side analysts forecast that Eagle Materials Inc will post 14.39 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 12th. Investors 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 is currently 7.38%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Loop Capital increased their price target on Eagle Materials from $230.00 to $245.00 and gave the stock a “hold” rating in a report on Wednesday, July 30th. Zacks Research cut Eagle Materials from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 22nd. Stifel Nicolaus set a $246.00 target price on Eagle Materials in a report on Monday, October 27th. JPMorgan Chase & Co. cut their price target on Eagle Materials from $245.00 to $230.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Finally, Wall Street Zen upgraded shares of Eagle Materials from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $243.30.

Eagle Materials 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.