Allspring Global Investments Holdings LLC lowered its stake in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 732,896 shares of the construction company's stock after selling 8,397 shares during the quarter. Allspring Global Investments Holdings LLC owned about 2.16% of Eagle Materials worth $210,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently modified their holdings of EXP. Baupost Group LLC MA purchased a new position in shares of Eagle Materials during the first quarter valued at about $71,199,000. Captrust Financial Advisors boosted its stake in Eagle Materials by 61.6% during the first quarter. Captrust Financial Advisors now owns 509,605 shares of the construction company's stock worth $138,485,000 after acquiring an additional 194,342 shares in the last quarter. Jupiter Asset Management Ltd. boosted its stake in Eagle Materials by 3,537.5% during the first quarter. Jupiter Asset Management Ltd. now owns 172,779 shares of the construction company's stock worth $46,953,000 after acquiring an additional 168,029 shares in the last quarter. Epoch Investment Partners Inc. boosted its stake in Eagle Materials by 25.2% during the second quarter. Epoch Investment Partners Inc. now owns 805,257 shares of the construction company's stock worth $175,111,000 after acquiring an additional 162,049 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in Eagle Materials by 33.4% during the second quarter. Federated Hermes Inc. now owns 529,701 shares of the construction company's stock worth $115,189,000 after acquiring an additional 132,677 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company's stock.
Shares of EXP traded down $1.46 during mid-day trading on Friday, hitting $302.89. 205,710 shares of the company traded hands, compared to its average volume of 307,740. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.17 and a current ratio of 2.45. The stock has a 50-day moving average price of $270.26 and a two-hundred day moving average price of $251.17. Eagle Materials Inc. has a 1 year low of $145.03 and a 1 year high of $306.36. The stock has a market cap of $10.26 billion, a price-to-earnings ratio of 22.24 and a beta of 1.32.
Eagle Materials (NYSE:EXP - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The construction company reported $3.94 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.37. Eagle Materials had a net margin of 21.65% and a return on equity of 37.10%. The firm had revenue of $608.69 million during the quarter, compared to analysts' expectations of $622.06 million. During the same period in the previous year, the company earned $3.55 earnings per share. The firm's quarterly revenue was up 1.2% on a year-over-year basis. Equities analysts anticipate that Eagle Materials Inc. will post 15.9 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.33%. Eagle Materials's payout ratio is 7.34%.
Several research firms recently commented on EXP. Jefferies Financial Group boosted their price objective on shares of Eagle Materials from $309.00 to $330.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Stephens boosted their price objective on shares of Eagle Materials from $280.00 to $315.00 and gave the stock an "overweight" rating in a research note on Thursday, August 1st. Raymond James lowered shares of Eagle Materials from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 17th. Citigroup upped their target price on shares of Eagle Materials from $252.00 to $311.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Eagle Materials from $270.00 to $290.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Eagle Materials presently has a consensus rating of "Moderate Buy" and an average target price of $297.78.
Get Our Latest Stock Analysis on EXP
In other Eagle Materials news, CFO Dale Craig Kesler sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $266.76, for a total transaction of $1,333,800.00. Following the completion of the sale, the chief financial officer now directly owns 60,488 shares of the company's stock, valued at approximately $16,135,778.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Eagle Materials news, CFO Dale Craig Kesler sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $266.76, for a total transaction of $1,333,800.00. Following the completion of the sale, the chief financial officer now directly owns 60,488 shares of the company's stock, valued at approximately $16,135,778.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George John Damiris sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $277.62, for a total transaction of $277,620.00. Following the sale, the director now directly owns 7,943 shares of the company's stock, valued at approximately $2,205,135.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,851 shares of company stock valued at $2,124,258. Insiders own 1.60% of the company's stock.
Eagle Materials Inc, through its subsidiaries, manufactures and sells heavy construction materials and light building materials in the United States. It operates in four segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland cement, including Portland limestone cement; grinding and sale of slag; and mining of gypsum for the manufacture and sale of gypsum wallboards used to finish the interior walls and ceilings in residential, commercial, and industrial structures, as well as well as containerboard and lightweight packaging grades; manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and mining and sale of aggregates, such as crushed stone, sand, and gravel.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Eagle Materials, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Eagle Materials wasn't on the list.
While Eagle Materials currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.