MetLife Investment Management LLC Sells 815 Shares of Eagle Materials Inc. (NYSE:EXP)

MetLife Investment Management LLC reduced its holdings in shares of Eagle Materials Inc. (NYSE:EXP) by 4.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 18,516 shares of the construction company’s stock after selling 815 shares during the period. MetLife Investment Management LLC owned about 0.06% of Eagle Materials worth $5,326,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of EXP. B. Riley Wealth Advisors Inc. boosted its stake in shares of Eagle Materials by 10.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,464 shares of the construction company’s stock valued at $670,000 after purchasing an additional 240 shares during the period. Cetera Investment Advisers lifted its holdings in Eagle Materials by 294.1% during the 1st quarter. Cetera Investment Advisers now owns 7,070 shares of the construction company’s stock valued at $1,921,000 after buying an additional 5,276 shares in the last quarter. Cetera Advisors LLC purchased a new stake in Eagle Materials in the 1st quarter valued at about $461,000. GAMMA Investing LLC grew its stake in Eagle Materials by 23.3% in the 2nd quarter. GAMMA Investing LLC now owns 471 shares of the construction company’s stock worth $102,000 after acquiring an additional 89 shares in the last quarter. Finally, Moody National Bank Trust Division increased its position in shares of Eagle Materials by 5.3% during the second quarter. Moody National Bank Trust Division now owns 4,979 shares of the construction company’s stock worth $1,083,000 after acquiring an additional 249 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EXP. JPMorgan Chase & Co. boosted their price target on Eagle Materials from $290.00 to $310.00 and gave the company a “neutral” rating in a report on Wednesday. Truist Financial upped their target price on Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, November 4th. The Goldman Sachs Group raised their price target on Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on Eagle Materials from $309.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Loop Capital cut shares of Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 target price on the stock. in a report on Monday, November 25th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eagle Materials has a consensus rating of “Moderate Buy” and an average target price of $307.11.

Eagle Materials Price Performance

Shares of EXP opened at $308.92 on Friday. The company has a 50 day moving average of $296.22 and a two-hundred day moving average of $260.25. The company has a quick ratio of 1.14, a current ratio of 2.34 and a debt-to-equity ratio of 0.74. Eagle Materials Inc. has a twelve month low of $178.42 and a twelve month high of $321.93. The company has a market cap of $10.36 billion, a price-to-earnings ratio of 21.82 and a beta of 1.32.

Eagle Materials (NYSE:EXP) last announced its earnings results on Tuesday, October 29th. The construction company reported $4.31 earnings per share for the quarter, missing the consensus estimate of $4.75 by ($0.44). The business had revenue of $623.62 million for the quarter, compared to analysts’ expectations of $651.46 million. Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $4.28 earnings per share. As a group, analysts predict that Eagle Materials Inc. will post 15.24 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.32%. Eagle Materials’s payout ratio is 7.06%.

Insiders Place Their Bets

In related news, CEO Michael Haack sold 11,888 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $310.50, for a total value of $3,691,224.00. Following the transaction, the chief executive officer now directly owns 85,811 shares of the company’s stock, valued at $26,644,315.50. This represents a 12.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Tony Thompson sold 1,401 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $314.00, for a total value of $439,914.00. Following the sale, the senior vice president now owns 13,212 shares in the company, valued at approximately $4,148,568. The trade was a 9.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,866 shares of company stock valued at $5,482,931. Insiders own 1.60% 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, 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.