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A company insider recently sold 31,700 shares of Eagle Materials Inc. [EXP]. Should You Sale?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Eagle Materials Inc. shares valued at $8,080,338 were sold by Haack Michael on Mar 06 ’24. At $254.90 per share, Haack Michael sold 31,700 shares. The insider’s holdings dropped to 94,229 shares worth approximately $20.57 million following the completion of this transaction.

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Also, Cribbs Eric sold 6,570 shares, netting a total of over 1,704,915 in proceeds. Following the sale of shares at $259.50 each, the insider now holds 15,654 shares.

Before that, Newby Matt had sold 2,940 shares from its account. In a trade valued at $738,385, the EVP & General Counsel traded Eagle Materials Inc. shares for $251.15 each. Upon closing the transaction, the insider’s holdings decreased to 2,940 shares, worth approximately $4.76 million.

As published in a research note from Loop Capital on January 08, 2024, Eagle Materials Inc. [EXP] has been rated up from a Hold to a Buy and the price target has been revised to $240 from $170. Analysts at JP Morgan upgraded the stock from ‘”an Underweight”‘ to ‘”a Neutral”‘ outlook in a report released in mid December. As of July 06, 2023, JP Morgan has decreased its “Neutral” rating to a “an Underweight” for EXP.

Analyzing EXP Stock Performance

During the last five days, there has been a surge of approximately 1.75%. Over the course of the year, Eagle Materials Inc. shares have jumped approximately 7.64%. Shares of the company reached a 52-week high of $276.61 on 05/15/24 and a 52-week low of $195.93 on 01/04/24. A 50-day SMA is recorded $239.68, while a 200-day SMA reached $216.15. Nevertheless, trading volume fell to 0.17 million shares from 0.38 million shares the previous day.

Support And Resistance Levels for Eagle Materials Inc. (EXP)

According to the 24-hour chart, there is a support level at 214.99, which, if violated, would cause prices to drop to 212.45. In the upper region, resistance lies at 219.19. The next price resistance is at 220.85. RSI (Relative Strength Index) is 40.91 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.12, which suggests the price will decrease in the coming days. Percent R is at 71.93%, indicating bearish price movement. Stochastics%K at buying indicates that the stock is to be held.

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