EVP & General Counsel Matt Newby Sells 3,165 Shares of Eagle Materials Inc
Eagle Materials Inc (NYSE:EXP), a leading provider of building materials including gypsum wallboard, cement, recycled paperboard, and concrete and aggregates, has reported an insider sale according to a recent SEC filing. The insider, EVP & General Counsel Matt Newby, sold 3,165 shares of the company on January 29, 2024.
The transaction was executed at an average price of $223.76 per share, resulting in a total sale amount of approximately $708,000. Following this transaction, the insider's stake in Eagle Materials Inc has decreased, reflecting a change in their investment strategy or possibly diversifying their personal portfolio.
Over the past year, Matt Newby has sold a total of 13,024 shares of Eagle Materials Inc and has not made any purchases of the stock. This latest sale continues a trend of insider selling activity at the company. In the past year, there have been no insider buys but 24 insider sells in total.
The stock market capitalization of Eagle Materials Inc stands at $8.057 billion, with the shares trading at $223.76 on the day of the insider's recent sale. The company's price-earnings ratio is currently 16.50, which is slightly above the industry median of 15.305 but below the company's historical median price-earnings ratio.
According to the GuruFocus Value chart, Eagle Materials Inc has a price-to-GF-Value ratio of 1.15, indicating that the stock is modestly overvalued when compared to its intrinsic value estimate of $194.61. The GF Value is calculated based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates from Morningstar analysts.
The insider trend image above provides a visual representation of the insider selling and buying activities over the past year, highlighting the absence of insider purchases and the prevalence of insider sales during this period.
The GF Value image illustrates the stock's current price in relation to its estimated intrinsic value, supporting the assessment that Eagle Materials Inc is modestly overvalued at the current market price.
Investors and analysts often monitor insider transactions as they can provide insights into the insider's view of the company's stock value and future prospects. However, insider selling does not always indicate a lack of confidence in the company, as insiders may have various personal or financial reasons for selling their shares.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
