Truist Financial Corp Reduces Stock Position in Eagle Materials Inc. (NYSE:EXP)

Truist Financial Corp cut its holdings in Eagle Materials Inc. (NYSE:EXP) by 13.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 35,226 shares of the construction company’s stock after selling 5,699 shares during the period. Truist Financial Corp’s holdings in Eagle Materials were worth $7,145,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Meritage Portfolio Management raised its position in shares of Eagle Materials by 2.1% in the 4th quarter. Meritage Portfolio Management now owns 2,259 shares of the construction company’s stock worth $458,000 after buying an additional 47 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Eagle Materials by 2.0% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 3,793 shares of the construction company’s stock worth $632,000 after purchasing an additional 74 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Eagle Materials by 0.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 12,674 shares of the construction company’s stock worth $2,110,000 after purchasing an additional 82 shares in the last quarter. Inspire Investing LLC increased its position in Eagle Materials by 8.2% during the 3rd quarter. Inspire Investing LLC now owns 1,830 shares of the construction company’s stock worth $305,000 after purchasing an additional 138 shares in the last quarter. Finally, Perigon Wealth Management LLC increased its position in Eagle Materials by 3.0% during the 3rd quarter. Perigon Wealth Management LLC now owns 4,775 shares of the construction company’s stock worth $795,000 after purchasing an additional 139 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Stifel Nicolaus increased their target price on shares of Eagle Materials from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. The Goldman Sachs Group increased their price objective on shares of Eagle Materials from $238.00 to $273.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Raymond James increased their price objective on shares of Eagle Materials from $170.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. increased their price objective on shares of Eagle Materials from $200.00 to $265.00 and gave the company a “neutral” rating in a research report on Friday, March 22nd. Finally, Loop Capital raised shares of Eagle Materials from a “hold” rating to a “buy” rating and increased their price objective for the company from $170.00 to $240.00 in a research report on Monday, January 8th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $263.50.

Eagle Materials Price Performance

NYSE:EXP opened at $260.89 on Friday. The business’s 50-day moving average price is $256.48 and its 200 day moving average price is $216.96. The firm has a market cap of $8.99 billion, a P/E ratio of 18.41 and a beta of 1.35. Eagle Materials Inc. has a 52-week low of $145.03 and a 52-week high of $272.72. The company has a quick ratio of 1.13, a current ratio of 2.61 and a debt-to-equity ratio of 0.77.

Eagle Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 0.38%. Eagle Materials’s payout ratio is presently 7.06%.

Insiders Place Their Bets

In other Eagle Materials news, EVP Matt Newby sold 2,940 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $251.15, for a total transaction of $738,381.00. Following the completion of the sale, the executive vice president now directly owns 21,819 shares in the company, valued at approximately $5,479,841.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Matt Newby sold 2,940 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $251.15, for a total value of $738,381.00. Following the completion of the sale, the executive vice president now owns 21,819 shares of the company’s stock, valued at approximately $5,479,841.85. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director David B. Powers sold 3,347 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $240.52, for a total value of $805,020.44. Following the completion of the sale, the director now directly owns 655 shares of the company’s stock, valued at approximately $157,540.60. The disclosure for this sale can be found here. Corporate insiders own 1.70% 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; 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.