William R. Devlin, Senior Vice President and Controller at Eagle Materials Inc . (NYSE:EXP), has reported a sale of company shares. According to a recent SEC filing, Devlin sold 2,304 shares of common stock on November 6, 2024. The shares were sold at a weighted average price of $312.45, totaling approximately $719,885. Following this transaction, Devlin holds 21,516 shares directly and an additional 1,936 shares indirectly through a 401(k) plan. Eagle Materials, a Dallas-based company, is a key player in the hydraulic cement industry.
In other recent news, Eagle Materials Inc. announced a record revenue of $624 million in its Q2 fiscal 2025 earnings call, overcoming operational challenges. The company experienced a 5% decline in the Heavy Materials segment, but reported a 5% increase in revenue in the Light Materials segment. Truist Securities has increased its price target for Eagle Materials to $330, maintaining a Buy rating. This adjustment is based on the expectation of increased cement and wallboard pricing, driven by infrastructure spending and a recovering housing market.
Eagle Materials also announced plans for the commissioning of a new slag cement facility in Texas in October 2024. The company's capital expenditure for fiscal 2025 is projected to be between $280 million and $310 million, with similar levels expected for fiscal 2026. These recent developments point to Eagle Materials' strategic approach to navigating dynamic market conditions.
InvestingPro Insights
Eagle Materials Inc. (NYSE:EXP) has been demonstrating strong financial performance, as reflected in both its market position and recent stock activity. According to InvestingPro data, the company's market capitalization stands at $10.48 billion, underlining its significant presence in the hydraulic cement industry.
The stock's recent performance has been particularly noteworthy. InvestingPro Tips reveal that EXP has seen a significant return over the last week, with data showing a 9.14% price total return in the past week. This short-term gain is part of a broader trend, as the stock has exhibited a strong return over the last three months, with a 31.02% price total return in that period.
These positive trends have pushed Eagle Materials' stock near its 52-week high, currently trading at 98.64% of its peak price. This upward momentum is further supported by the company's solid fundamentals. Eagle Materials boasts a P/E ratio of 22.01, suggesting investors are willing to pay a premium for the company's earnings potential.
For investors seeking more comprehensive insights, InvestingPro offers 16 additional tips for Eagle Materials, providing a deeper understanding of the company's financial health and market position. These additional tips can be particularly valuable in contextualizing insider transactions like the recent sale by William R. Devlin.
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