Eagle Materials Inc $EXP Shares Sold by Moran Wealth Management LLC

Key Points

• Moran Wealth Management LLC reduced its stake in Eagle Materials Inc by 6.3%, owning 44,713 shares worth approximately $9 million after selling 3,008 shares in Q2.
• Eagle Materials reported a quarterly EPS of $3.76, surpassing estimates by $0.03, with revenues reaching $634.69 million compared to expectations of $611.52 million.
• Analysts have recently adjusted their ratings on Eagle Materials, with Loop Capital and JPMorgan raising their price targets to $245.00 while multiple analysts have given a "Hold" rating, leading to an average target price of $255.40.

Moran Wealth Management LLC lowered its stake in Eagle Materials Inc (NYSE:EXP - Free Report) by 6.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,713 shares of the construction company's stock after selling 3,008 shares during the period. Moran Wealth Management LLC owned approximately 0.14% of Eagle Materials worth $9,037,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SVB Wealth LLC acquired a new position in Eagle Materials during the first quarter worth $41,000. Private Trust Co. NA grew its holdings in Eagle Materials by 39.0% during the first quarter. Private Trust Co. NA now owns 285 shares of the construction company's stock worth $63,000 after acquiring an additional 80 shares during the period. Assetmark Inc. grew its holdings in Eagle Materials by 486.6% during the first quarter. Assetmark Inc. now owns 393 shares of the construction company's stock worth $87,000 after acquiring an additional 326 shares during the period. Signaturefd LLC grew its holdings in 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 acquiring an additional 131 shares during the period. Finally, Transce3nd LLC grew its holdings in Eagle Materials by 9.7% during the first quarter. Transce3nd LLC now owns 552 shares of the construction company's stock worth $122,000 after acquiring an additional 49 shares during the period. Institutional investors and hedge funds own 96.07% of the company's stock.

Analyst Upgrades and Downgrades

EXP has been the topic of a number of recent analyst reports. Loop Capital upped their price objective on Eagle Materials from $230.00 to $245.00 and gave the stock a "hold" rating in a report on Wednesday, July 30th. Wall Street Zen raised Eagle Materials from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. upped their target price on Eagle Materials from $220.00 to $245.00 and gave the company a "neutral" rating in a report on Tuesday, August 26th. Weiss Ratings reissued a "hold (c+)" rating on shares of Eagle Materials in a report on Wednesday, October 8th. Finally, Wells Fargo & Company raised Eagle Materials to a "strong-buy" rating in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Eagle Materials presently has an average rating of "Hold" and an average target price of $255.40.

Eagle Materials Stock Performance

NYSE EXP opened at $230.09 on Tuesday. The business's 50-day moving average price is $231.75 and its 200 day moving average price is $221.70. Eagle Materials Inc has a twelve month low of $191.91 and a twelve month high of $321.93. The company has a market capitalization of $7.47 billion, a PE ratio of 16.94 and a beta of 1.31. The company has a current ratio of 2.73, a quick ratio of 1.26 and a debt-to-equity ratio of 0.87.

Eagle Materials (NYSE:EXP - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The construction company reported $3.76 EPS for the quarter, topping the consensus estimate of $3.73 by $0.03. The company had revenue of $634.69 million during the quarter, compared to analyst estimates of $611.52 million. Eagle Materials had a return on equity of 31.21% and a net margin of 19.81%. On average, research analysts predict that Eagle Materials Inc will post 14.39 earnings per share for the current year.

Eagle Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, September 15th. This represents a $1.00 annualized dividend and a yield of 0.4%. Eagle Materials's dividend payout ratio is currently 7.36%.

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.

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