On September 8, 2023, it was reported that Charles Schwab Investment Management Inc. has decreased its position in Eagle Materials Inc. by 23.4% during the first quarter. According to the company’s filing with the Securities and Exchange Commission (SEC), Charles Schwab owned approximately 0.90% of Eagle Materials’ stock, holding 323,027 shares after selling 98,613 shares.
Eagle Materials, listed on the New York Stock Exchange under the ticker symbol EXP, recently announced its quarterly earnings data on July 27th. The construction company reported earnings per share (EPS) of $3.55 for the quarter, exceeding analysts’ consensus estimates by $0.01. The net margin for Eagle Materials stood at 21.82%, with a return on equity of 40.68%. The company generated revenue of $601.50 million during the quarter, slightly below analyst estimates of $603.11 million.
Compared to the same period last year, Eagle Material’s EPS increased from $2.82 to $3.55, representing a growth rate of 25%. Additionally, the company experienced a year-over-year revenue increase of 7.1%. Based on these figures and analyst expectations, equities analysts anticipate that Eagle Materials Inc.’s earnings per share for the current fiscal year will amount to approximately $13.92.
Several equities research analysts have recently shared their opinions on Eagle Materials stock (EXP). Truist Financial raised their price target from $195 to $220 and gave it a “buy” rating in their research report released on July 31st. Raymond James also increased their target price from $176 to $193 and rated the stock as “outperform” on August 1st.
DA Davidson raised their target price from $140 to $175 back in May while JPMorgan Chase & Co lowered their target price from $190 to $200 and rated the stock as “underweight” on August 24th. Stifel Nicolaus also increased their target price from $195 to $205 on July 14th. With a consensus rating of “Moderate Buy” and a consensus target price of $199.80 according to Bloomberg, Eagle Materials has received one sell rating, two hold ratings, and six buy ratings from research analysts.
In conclusion, Charles Schwab Investment Management Inc. has reduced its stake in Eagle Materials Inc., while the construction company reported impressive quarterly earnings, surpassing analysts’ expectations. Equities research analysts have provided evaluations and ratings for Eagle Materials stock, with a majority suggesting a positive outlook for the company’s future performance.
Eagle Materials Inc. Attracts Attention from Hedge Funds and Institutional Investors
Eagle Materials Inc., a construction company with a market capitalization of $6.40 billion, has caught the attention of several hedge funds and institutional investors. Notably, Guyasuta Investment Advisors Inc. increased its stake in the company by 2.2% during the first quarter, resulting in ownership of 3,183 shares worth $467,000. This acquisition was made after acquiring an additional 70 shares during the period.
Joining in on the action, Fifth Third Bancorp also entered the fray during the first quarter, lifting its stake in Eagle Materials by 18.0%. The bank now owns 458 shares valued at $67,000 after purchasing an additional 70 shares.
Inspire Investing LLC isn’t one to be left behind either, as it raised its stake in Eagle Materials by 4.2% during the first quarter. With this move, Inspire Investing LLC now possesses 1,846 shares worth $271,000 after acquiring an additional 75 shares.
Meanwhile, Quadrant Capital Group LLC demonstrated confidence in the company’s future prospects by increasing its position in Eagle Materials by a significant percentage—20.8%—during the fourth quarter. This move resulted in ownership of 488 shares valued at $65,000 after purchasing an additional 84 shares.
Further strengthening their positions is UMB Bank n.a., which capitalized on a prime opportunity by increasing its stake in Eagle Materials by 0.6% during the first quarter. With this investment, UMB Bank n.a. now possesses an impressive share count of 16,673 worth $2,447,000 after acquiring an additional 95 shares.
What stands out is that institutional investors collectively hold a considerable proportion—92.57%—of Eagle Material’s stock.
In other news surrounding Eagle Materials Inc., Executive Vice President Matt Newby made headlines for selling off a substantial number of shares within the company. The transaction, which took place on Thursday, August 31st, involved the sale of 5,613 shares at an average price of $190.00 per share. This equated to a total transaction value of $1,066,470.00. Presently, Newby holds 21,819 shares valued at approximately $4,145,610.
Interestingly enough, this was not the only instance of Newby disposing of company shares lately. He also sold 5,613 shares on August 31st for an average price of $190.00 per share. This time around, the transaction carried a total value of $1,066,470.00. After this sale concluded, Newby directly owns 21,819 shares valued at $4,145,610.
Additionally in recent sales activity for Eagle Materials Inc., Director Richard Ross Stewart made a notable move by selling off 2,000 of the firm’s shares on Wednesday, August 30th. The director managed to sell these shares for a price averaging at $187.99 each—bringing in a total value amounting to $375,980. Following this sale completion process ensures that Stewart now retains ownership of only 7,041 shares within the company worth roughly $1,323,637.
As revealed by filings with the Securities & Exchange Commission (SEC) and accessible via hyperlink provided within these official documents – further information surrounding this sale can be found via this link.
It is essential to highlight that insiders have been actively participating in stock sales recently as well—an accumulative total of 13,613 shares with a market value estimated at approximately $2,477320 worth being unloaded over the course of ninety days.
Turning attention towards Eagle Material’s stock performance on September 8th—the opening price settled at $180.65—a noteworthy statistic for potential investors to take note.
Additional financial highlights showcase Eagle Materials Inc.’s debt-to-equity ratio standing at 0.92—a factor taken into account for assessing the company’s financial health. Moreover, the firm possesses a current ratio of 2.68 and a quick ratio of 1.36—both aspects reflecting specific liquidity measures.
Looking at Eagle Material’s performance over the past year, it is observed that it reached its lowest point at $101.98 and peaked at $195.96—an evident fluctuation in value for interested investors to consider.
In light of considering stock trends, it is worth noting that Eagle Materials Inc. presents a 50-day simple moving average amounting to $185.39, while its two-hundred day simple moving average settles around $164.16.
Concluding on analyzing these figures, momentum behind Eagle Material Inc.’s activities are being closely watched by financiers and institutional investors given its market capitalization and notable fluctuations in stock price.
References:
– https://www.sec.gov
– Stock report on Eagle Materials [hyperlink not mentioned]
– Bloomberg Finance L.P.
– September 8th, 2023
The post Charles Schwab Decreases Position in Eagle Materials, but Impressive Quarterly Earnings and Analyst Ratings Indicate Positive Outlook appeared first on Best Stocks.
