KeyBank National Association has reduced its investment in **Eagle Materials Inc** (NYSE: EXP) by **18.0%** during the second quarter of 2023, as revealed in its latest Form 13F filing with the **Securities and Exchange Commission** (SEC). The institutional investor now holds **2,831 shares** of the construction materials company after divesting **621 shares** during this period. KeyBank’s stake in Eagle Materials is valued at approximately **$572,000** as of the end of the reporting period.
Several other institutional investors have also adjusted their positions in Eagle Materials. **Hantz Financial Services Inc.** significantly increased its stake by **7,750.0%**, acquiring a total of **157 shares** worth **$32,000** after purchasing an additional **155 shares** in the last quarter. **SVB Wealth LLC** entered a new position valued at **$41,000** during the first quarter, while **Caitong International Asset Management Co. Ltd** raised its stake by **62.5%**, now owning **208 shares** worth **$42,000** following an additional purchase of **80 shares**.
Moreover, **Private Trust Co. NA** increased its stake by **39.0%**, owning **285 shares** valued at **$63,000**, and **Assetmark Inc.** raised its investment by **486.6%**, now holding **393 shares** worth **$87,000**. Collectively, institutional investors and hedge funds control **96.07%** of Eagle Materials’ stock.
Analyst Ratings and Stock Performance
Eagle Materials has recently received mixed reviews from analysts. **DA Davidson** has lowered its target price for the company from **$245.00** to **$225.00**, maintaining a “neutral” rating. Conversely, **JPMorgan Chase & Co.** increased its target price from **$220.00** to **$245.00**, also with a “neutral” rating. Other firms, including **Jefferies Financial Group** and **Loop Capital**, have issued “hold” ratings with target prices set at **$226.00** and **$245.00**, respectively. In total, four analysts have rated the stock as a “Buy,” while seven provided a “Hold” rating, and one assigned a “Sell” rating. According to **MarketBeat.com**, Eagle Materials currently holds an average rating of “Hold” with a consensus price target of **$244.80**.
On October 30, 2023, Eagle Materials reported its latest earnings results, revealing earnings per share (EPS) of **$4.23** for the quarter, which fell short of the consensus estimate of **$4.35** by **$0.12**. The company generated revenues of **$638.91 million**, surpassing the expected **$635.55 million**. Over the past year, Eagle Materials has demonstrated a **2.5%** increase in revenue. The company’s return on equity stood at **31.21%**, with a net margin of **19.81%**.
Company Overview
Eagle Materials Inc operates predominantly in the United States, manufacturing and selling heavy construction materials and light building materials. The company’s operations are divided into four primary segments: **Cement**, **Concrete and Aggregates**, **Gypsum Wallboard**, and **Recycled Paperboard**. It engages in various activities, including the mining of limestone for Portland cement production, the grinding and sale of slag, and the mining of gypsum for wallboard manufacturing.
The company has experienced fluctuations in stock performance, with shares opening at **$208.44** recently. With a market capitalization of **$6.76 billion**, the firm has a **P/E ratio of 15.35** and a beta of **1.31**. The stock has shown a **12-month low** of **$191.91** and a **high** of **$321.93**. Current ratios and other financial metrics indicate a solid position, with a quick ratio of **1.26** and a debt-to-equity ratio of **0.87**.
As the market continues to evolve, investors will be keen to monitor Eagle Materials for any shifts in performance and strategic moves by major stakeholders.
