Bank of Montreal Can Invests $737,000 in Eagle Materials Inc. (NYSE:EXP)

Bank of Montreal Can acquired a new position in Eagle Materials Inc. (NYSE:EXP) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,950 shares of the construction company’s stock, valued at approximately $737,000.

Several other large investors have also recently made changes to their positions in EXP. Dark Forest Capital Management LP purchased a new stake in Eagle Materials during the 1st quarter worth approximately $26,000. Point72 Middle East FZE purchased a new stake in Eagle Materials during the 4th quarter worth approximately $31,000. Global Retirement Partners LLC increased its stake in Eagle Materials by 681.5% during the 1st quarter. Global Retirement Partners LLC now owns 211 shares of the construction company’s stock worth $32,000 after buying an additional 184 shares during the period. Providence Capital Advisors LLC increased its stake in Eagle Materials by 14,575.8% during the 1st quarter. Providence Capital Advisors LLC now owns 4,843 shares of the construction company’s stock worth $33,000 after buying an additional 4,810 shares during the period. Finally, Canton Hathaway LLC purchased a new stake in Eagle Materials during the 2nd quarter worth approximately $34,000. 92.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Matt Newby sold 5,613 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $190.00, for a total transaction of $1,066,470.00. Following the completion of the sale, the executive vice president now owns 21,819 shares in the company, valued at approximately $4,145,610. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Richard Ross Stewart sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $187.99, for a total value of $375,980.00. Following the completion of the sale, the director now owns 7,041 shares in the company, valued at approximately $1,323,637.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Matt Newby sold 5,613 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $190.00, for a total transaction of $1,066,470.00. Following the completion of the sale, the executive vice president now owns 21,819 shares of the company’s stock, valued at approximately $4,145,610. The disclosure for this sale can be found here. Insiders sold a total of 8,613 shares of company stock worth $1,624,730 in the last 90 days. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

EXP has been the topic of several recent research reports. Truist Financial upped their target price on shares of Eagle Materials from $195.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. Citigroup increased their price objective on shares of Eagle Materials from $215.00 to $219.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. Raymond James dropped their price objective on shares of Eagle Materials from $193.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 31st. StockNews.com downgraded shares of Eagle Materials from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. Finally, Stephens reissued an “overweight” rating and issued a $230.00 price objective on shares of Eagle Materials in a research report on Monday, August 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $197.50.

Eagle Materials Trading Up 4.0 %

NYSE EXP opened at $174.49 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.72 and a quick ratio of 1.38. The firm’s fifty day moving average price is $166.16 and its 200 day moving average price is $172.55. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 12.78 and a beta of 1.34. Eagle Materials Inc. has a 12 month low of $125.57 and a 12 month high of $195.96.

Eagle Materials (NYSE:EXP) last posted its earnings results on Thursday, October 26th. The construction company reported $4.28 EPS for the quarter, beating analysts’ consensus estimates of $4.18 by $0.10. The firm had revenue of $622.20 million for the quarter, compared to the consensus estimate of $636.00 million. Eagle Materials had a net margin of 22.17% and a return on equity of 40.45%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the firm posted $3.72 EPS. On average, sell-side analysts expect that Eagle Materials Inc. will post 14.14 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, December 14th. Eagle Materials’s dividend payout ratio is currently 7.33%.

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; 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.