The heavy selling by Norges Bank and Allspring Global signals potential fundamental concern, but active buyers like Verition and Fifth Third suggest contrarian value. Monitor EXP's next earnings for revenue/earnings trends; the lack of insider buying weakens the bull case. If selling persists in Q2, consider hedging exposure.
Executive Summary
An institutional cluster in EAGLE MATERIALS INC (EXP) shows mixed signals: 15 buyers with $44.8M net new money (led by Verition Fund Management adding $15.9M and Fifth Third Bancorp adding $4.8M) but 22 sellers reducing $191M (led by Norges Bank exiting $90.1M and Allspring Global trimming $52.3M). The strong net selling by larger passive managers and a sovereign fund despite buying by active managers suggests no clear catalyst consensus, keeping the impact moderate.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$146.2M
▲ Buyers (15)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Verition Fund Management | DOUBLED | +834.5% | $18.0M | $15.9M |
| Invesco | ADD | +43.2% | $58.1M | $13.8M |
| Fifth Third Bancorp | DOUBLED | +5116.3% | $4.9M | $4.8M |
| Fort Washington Investment Adv | ADD | +37.4% | $23.5M | $4.8M |
| Hudson Bay Capital Management | ADD | +67.9% | $4.8M | $1.7M |
▼ Sellers (22)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Norges Bank | EXIT | -100% | $90.1M | -$90.1M |
| Allspring Global Investments H | TRIM | -34.8% | $127.0M | -$52.3M |
| Morgan Stanley | TRIM | -25.9% | $64.0M | -$20.5M |
| Marshall Wace | TRIM | -36% | $30.1M | -$12.5M |
| Loomis Sayles & Co L P | NEAR_EXIT | -87.6% | $7.5M | -$6.6M |
Key Facts
- Net selling of $191M by 22 institutions outweighs net buying of $44.8M by 15 institutions
- Norges Bank exited a $90.1M position (largest seller)
- Allspring Global Investments trimmed $52.3M, Morgan Stanley trimmed $20.5M
- Verition Fund Management added $15.9M (DOUBLED position to $18.0M)
- Fifth Third Bancorp grew position from $101K to $4.9M (+5116%)
- No insider buying corroboration (confluence score 37/100 - institutions only)
- Historical calibration suggests scores at this level have 44% observed upside probability
Financial Impact
Net institutional selling of approximately $146M (buyers added $44.8M, sellers reduced $191M)
Risk Factors
- Net selling outweighs buying ~4x by dollar volume
- No insider buying corroborates the buying cluster
- 45-day 13F lag means positions may have been unwound
- 44% historical odds of a positive T+20 move at this score level
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-EXP-2026-Q1 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 29, 2026 9w ago | 8-K | $209.91 $200.08 | ▼ −4.68% | ▼ −9.70% | — |
Jun 25, 2026 14w ago | Institutional Cluster | $235.44 $207.11 | ▼ −12.03% | ▼ −12.56% | — |
Jun 15, 2026 15w ago | DEFA14A | $219.90 $204.99 | ▼ −6.78% | ▼ −6.98% | — |
May 21, 2026 19w ago | 8-K | $199.43 $221.50 | ▲ +11.06% | ▲ +12.48% | — |
May 19, 2026 19w ago | 8-K | $199.88 $213.24 | ▲ +6.68% | ▲ +5.70% | — |
US Market Status
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