Lord Abbett & CO. LLC Increases Stock Holdings in Eagle Materials Inc. (NYSE:EXP)

Lord Abbett & CO. LLC increased its stake in Eagle Materials Inc. (NYSE:EXP) by 16.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 198,994 shares of the construction company’s stock after acquiring an additional 27,397 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.59% of Eagle Materials worth $57,241,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. lifted its position in shares of Eagle Materials by 10,750.0% in the second quarter. McClarren Financial Advisors Inc. now owns 217 shares of the construction company’s stock valued at $47,000 after acquiring an additional 215 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Eagle Materials in the 3rd quarter valued at $64,000. Quent Capital LLC lifted its holdings in Eagle Materials by 155.3% in the 3rd quarter. Quent Capital LLC now owns 434 shares of the construction company’s stock valued at $125,000 after purchasing an additional 264 shares in the last quarter. GAMMA Investing LLC boosted its stake in Eagle Materials by 29.7% during the 3rd quarter. GAMMA Investing LLC now owns 611 shares of the construction company’s stock worth $176,000 after purchasing an additional 140 shares during the last quarter. Finally, Central Pacific Bank Trust Division grew its holdings in shares of Eagle Materials by 23.5% during the third quarter. Central Pacific Bank Trust Division now owns 630 shares of the construction company’s stock worth $181,000 after buying an additional 120 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director George John Damiris sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $277.62, for a total value of $277,620.00. Following the transaction, the director now owns 7,943 shares in the company, valued at $2,205,135.66. The trade was a 11.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard Ross Stewart sold 3,577 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $300.30, for a total value of $1,074,173.10. Following the completion of the transaction, the director now directly owns 1,100 shares in the company, valued at approximately $330,330. The trade was a 76.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,866 shares of company stock worth $5,482,931 in the last ninety days. 1.60% of the stock is owned by corporate insiders.

Eagle Materials Price Performance

Eagle Materials stock opened at $273.32 on Friday. The company’s 50 day moving average is $297.21 and its two-hundred day moving average is $263.17. The firm has a market cap of $9.17 billion, a PE ratio of 19.30 and a beta of 1.33. The company has a quick ratio of 1.14, a current ratio of 2.34 and a debt-to-equity ratio of 0.74. Eagle Materials Inc. has a 52-week low of $193.95 and a 52-week high of $321.93.

Eagle Materials (NYSE:EXP) last released its earnings results on Tuesday, October 29th. The construction company reported $4.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.44). Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. The company had revenue of $623.62 million during the quarter, compared to analysts’ expectations of $651.46 million. During the same quarter last year, the business posted $4.28 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, research analysts expect that Eagle Materials Inc. will post 15.24 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 annualized dividend and a yield of 0.37%. Eagle Materials’s dividend payout ratio is currently 7.06%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EXP shares. JPMorgan Chase & Co. raised their price target on shares of Eagle Materials from $290.00 to $310.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. Loop Capital cut Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 target price on the stock. in a report on Monday, November 25th. The Goldman Sachs Group increased their price target on Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Truist Financial lifted their price target on Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group raised their price objective on shares of Eagle Materials from $309.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $307.11.

Eagle Materials Profile

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.