Eagle Materials Inc. (NYSE:EXP) Shares Sold by Merewether Investment Management LP

Merewether Investment Management LP trimmed its holdings in Eagle Materials Inc. (NYSE:EXP - Free Report) by 20.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 62,296 shares of the construction company's stock after selling 16,104 shares during the period. Merewether Investment Management LP owned approximately 0.19% of Eagle Materials worth $15,372,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in shares of Eagle Materials by 3.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,801,532 shares of the construction company's stock worth $444,546,000 after purchasing an additional 66,399 shares during the period. Geode Capital Management LLC boosted its stake in Eagle Materials by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 722,995 shares of the construction company's stock worth $178,450,000 after buying an additional 15,388 shares during the period. Baupost Group LLC MA increased its position in shares of Eagle Materials by 27.6% during the fourth quarter. Baupost Group LLC MA now owns 638,223 shares of the construction company's stock valued at $157,488,000 after acquiring an additional 137,950 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Eagle Materials by 10.3% in the 4th quarter. Federated Hermes Inc. now owns 594,899 shares of the construction company's stock valued at $146,797,000 after acquiring an additional 55,578 shares during the period. Finally, Epoch Investment Partners Inc. lifted its holdings in shares of Eagle Materials by 2.4% in the 4th quarter. Epoch Investment Partners Inc. now owns 592,069 shares of the construction company's stock worth $146,099,000 after acquiring an additional 13,988 shares during the last quarter. Institutional investors and hedge funds own 96.07% of the company's stock.

Eagle Materials Stock Up 2.3%

EXP traded up $5.39 on Friday, reaching $239.95. The company's stock had a trading volume of 366,129 shares, compared to its average volume of 335,806. The company has a market capitalization of $7.99 billion, a price-to-earnings ratio of 17.14 and a beta of 1.36. Eagle Materials Inc. has a fifty-two week low of $201.61 and a fifty-two week high of $321.93. The company has a quick ratio of 1.01, a current ratio of 2.76 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average of $222.28 and a two-hundred day moving average of $250.07.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. DA Davidson cut their target price on Eagle Materials from $265.00 to $260.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. Loop Capital decreased their target price on Eagle Materials from $280.00 to $245.00 and set a "hold" rating on the stock in a research note on Tuesday, April 1st. Stephens reaffirmed an "overweight" rating and set a $310.00 target price on shares of Eagle Materials in a research note on Thursday, January 30th. JPMorgan Chase & Co. decreased their price target on shares of Eagle Materials from $310.00 to $250.00 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Finally, Truist Financial cut their price objective on Eagle Materials from $330.00 to $280.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $274.40.

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, 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.