Harbor Island Capital LLC Has $8.39 Million Position in Eagle Materials Inc. (NYSE:EXP)

Harbor Island Capital LLC cut its position in shares of Eagle Materials Inc. (NYSE:EXP) by 12.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,987 shares of the construction company’s stock after selling 6,583 shares during the period. Eagle Materials comprises 4.5% of Harbor Island Capital LLC’s portfolio, making the stock its 10th biggest position. Harbor Island Capital LLC owned 0.13% of Eagle Materials worth $8,386,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Eagle Materials by 3.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,841,414 shares of the construction company’s stock valued at $411,723,000 after acquiring an additional 110,695 shares during the period. Neuberger Berman Group LLC increased its holdings in shares of Eagle Materials by 0.6% in the 4th quarter. Neuberger Berman Group LLC now owns 1,695,599 shares of the construction company’s stock valued at $225,260,000 after acquiring an additional 10,895 shares during the period. State Street Corp increased its holdings in shares of Eagle Materials by 0.3% in the 1st quarter. State Street Corp now owns 1,056,912 shares of the construction company’s stock valued at $135,929,000 after acquiring an additional 3,684 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Eagle Materials by 5.9% in the 4th quarter. Victory Capital Management Inc. now owns 1,053,983 shares of the construction company’s stock valued at $140,022,000 after acquiring an additional 58,727 shares during the period. Finally, Frontier Capital Management Co. LLC increased its holdings in shares of Eagle Materials by 46.9% in the 1st quarter. Frontier Capital Management Co. LLC now owns 786,824 shares of the construction company’s stock valued at $115,466,000 after acquiring an additional 251,320 shares during the period. 92.57% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Truist Financial boosted their target price on Eagle Materials from $195.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. DA Davidson boosted their target price on Eagle Materials from $140.00 to $175.00 in a research note on Monday, May 22nd. JPMorgan Chase & Co. boosted their price target on Eagle Materials from $190.00 to $200.00 and gave the company an “underweight” rating in a research note on Thursday, August 24th. Jefferies Financial Group increased their price objective on Eagle Materials from $195.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, July 13th. Finally, StockNews.com lowered Eagle Materials from a “buy” rating to a “hold” rating in a report on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $199.80.

Insider Activity

In other news, Director Richard Ross Stewart sold 1,000 shares of Eagle Materials stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $182.28, for a total value of $182,280.00. Following the completion of the sale, the director now directly owns 9,041 shares of the company’s stock, valued at $1,647,993.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Matt Newby sold 5,613 shares of Eagle Materials stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $190.00, for a total value of $1,066,470.00. Following the completion of the transaction, the executive vice president now owns 21,819 shares in the company, valued at approximately $4,145,610. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Ross Stewart sold 1,000 shares of Eagle Materials stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $182.28, for a total value of $182,280.00. Following the completion of the transaction, the director now owns 9,041 shares of the company’s stock, valued at approximately $1,647,993.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,613 shares of company stock valued at $1,624,730. 1.70% of the stock is currently owned by corporate insiders.

Eagle Materials Price Performance

Shares of NYSE:EXP traded down $1.18 during midday trading on Tuesday, hitting $172.80. The company had a trading volume of 143,674 shares, compared to its average volume of 305,525. Eagle Materials Inc. has a twelve month low of $101.98 and a twelve month high of $195.96. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.68 and a quick ratio of 1.36. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of 13.18 and a beta of 1.34. The business’s 50-day simple moving average is $184.66 and its 200-day simple moving average is $166.31.

Eagle Materials (NYSE:EXP) last posted its earnings results on Thursday, July 27th. The construction company reported $3.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.54 by $0.01. The company had revenue of $601.50 million during the quarter, compared to analysts’ expectations of $603.11 million. Eagle Materials had a return on equity of 40.68% and a net margin of 21.82%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.82 earnings per share. On average, research analysts predict that Eagle Materials Inc. will post 13.92 earnings per share for the current year.

Eagle Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.58%. Eagle Materials’s payout ratio is presently 7.63%.

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; 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.