Eagle Materials Inc. (NYSE:EXP) Shares Purchased by Summit Global Investments

Summit Global Investments raised its stake in Eagle Materials Inc. (NYSE:EXP - Free Report) by 126.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,191 shares of the construction company's stock after acquiring an additional 5,136 shares during the period. Summit Global Investments' holdings in Eagle Materials were worth $1,864,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in EXP. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Eagle Materials by 11.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 4,005 shares of the construction company's stock valued at $667,000 after acquiring an additional 413 shares during the period. Brown Advisory Inc. grew its position in Eagle Materials by 1.1% in the 3rd quarter. Brown Advisory Inc. now owns 334,785 shares of the construction company's stock worth $55,748,000 after purchasing an additional 3,496 shares during the last quarter. Monument Capital Management acquired a new stake in shares of Eagle Materials in the third quarter valued at approximately $1,912,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Eagle Materials by 19.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,069 shares of the construction company's stock valued at $1,177,000 after buying an additional 1,163 shares during the last quarter. Finally, BluePath Capital Management LLC acquired a new position in shares of Eagle Materials during the third quarter worth approximately $31,000. 96.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EXP has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Eagle Materials from a "buy" rating to a "hold" rating in a research report on Wednesday, April 10th. The Goldman Sachs Group upped their target price on Eagle Materials from $238.00 to $273.00 and gave the stock a "buy" rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. lifted their price target on Eagle Materials from $200.00 to $265.00 and gave the company a "neutral" rating in a research report on Friday, March 22nd. Stephens upped their price objective on Eagle Materials from $250.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, April 24th. Finally, Citigroup lifted their target price on Eagle Materials from $244.00 to $311.00 and gave the stock a "buy" rating in a report on Friday, April 5th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Eagle Materials currently has an average rating of "Moderate Buy" and a consensus target price of $263.50.

Eagle Materials Trading Up 1.5 %

NYSE EXP traded up $3.96 on Friday, hitting $260.89. 393,279 shares of the company were exchanged, compared to its average volume of 292,654. Eagle Materials Inc. has a twelve month low of $145.03 and a twelve month high of $272.72. The company's 50 day moving average price is $256.48 and its 200-day moving average price is $216.96. The firm has a market capitalization of $8.99 billion, a P/E ratio of 18.41 and a beta of 1.35. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.61 and a quick ratio of 1.13.

Eagle Materials Dividend Announcement

The company 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. This represents a $1.00 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend was Thursday, March 14th. Eagle Materials's payout ratio is 7.06%.

Insider Buying and Selling at Eagle Materials

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

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; 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.

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