Summit Global Investments Has $1.86 Million Stock Holdings in Eagle Materials Inc. (NYSE:EXP)

Summit Global Investments boosted its position in Eagle Materials Inc. (NYSE:EXP) by 126.7% in the 4th quarter, HoldingsChannel reports. 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 filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Los Angeles Capital Management LLC boosted its position in Eagle Materials by 8.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 250,828 shares of the construction company’s stock worth $50,878,000 after purchasing an additional 18,515 shares during the period. Global Wealth Management Investment Advisory Inc. bought a new stake in shares of Eagle Materials during the 4th quarter worth about $30,000. Van ECK Associates Corp grew its stake in Eagle Materials by 39.7% in the 4th quarter. Van ECK Associates Corp now owns 10,537 shares of the construction company’s stock valued at $2,137,000 after buying an additional 2,993 shares during the last quarter. Skylands Capital LLC grew its stake in Eagle Materials by 2.6% in the 4th quarter. Skylands Capital LLC now owns 44,955 shares of the construction company’s stock valued at $9,119,000 after buying an additional 1,120 shares during the last quarter. Finally, Convergence Investment Partners LLC bought a new position in Eagle Materials in the 4th quarter valued at about $229,000. Institutional investors own 96.07% of the company’s stock.

Eagle Materials Price Performance

NYSE:EXP traded up $3.96 during mid-day trading on Friday, reaching $260.89. The stock had a trading volume of 393,279 shares, compared to its average volume of 292,654. The stock has a 50-day simple moving average of $256.48 and a two-hundred day simple moving average of $216.96. 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 Inc. has a 12 month low of $145.03 and a 12 month high of $272.72. The stock has a market capitalization of $8.99 billion, a PE ratio of 18.41 and a beta of 1.35.

Eagle Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 15th were issued 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 dividend yield of 0.38%. Eagle Materials’s dividend payout ratio (DPR) is currently 7.06%.

Wall Street Analyst Weigh In

Several research firms have recently commented on EXP. Stifel Nicolaus upped their target price on Eagle Materials from $250.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, April 15th. StockNews.com downgraded Eagle Materials from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. Raymond James raised their price target on shares of Eagle Materials from $170.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Truist Financial boosted their price objective on shares of Eagle Materials from $290.00 to $320.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Finally, Citigroup lifted their price target on shares of Eagle Materials from $244.00 to $311.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $263.50.

Insider Buying and Selling

In other Eagle Materials news, EVP Matt Newby sold 2,940 shares of Eagle Materials stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $251.15, for a total value 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Matt Newby sold 2,940 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $251.15, for a total value of $738,381.00. Following the completion of the transaction, 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 legal filing with the SEC, which is available through the SEC website. Also, Director David B. Powers sold 3,347 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $240.52, for a total transaction of $805,020.44. Following the sale, the director now directly owns 655 shares in the company, valued at approximately $157,540.60. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

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.