Eagle Materials Inc. (NYSE:EXP) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in shares of Eagle Materials Inc. (NYSE:EXP) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 704,874 shares of the construction company’s stock after selling 28,022 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Eagle Materials were worth $172,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new stake in Eagle Materials in the third quarter valued at approximately $64,000. R Squared Ltd purchased a new position in Eagle Materials in the 4th quarter valued at about $81,000. GAMMA Investing LLC boosted its holdings in Eagle Materials by 10.6% in the 4th quarter. GAMMA Investing LLC now owns 676 shares of the construction company’s stock worth $167,000 after buying an additional 65 shares during the last quarter. Central Pacific Bank Trust Division raised its holdings in shares of Eagle Materials by 20.6% during the fourth quarter. Central Pacific Bank Trust Division now owns 760 shares of the construction company’s stock valued at $188,000 after acquiring an additional 130 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its position in shares of Eagle Materials by 789.9% in the third quarter. Harvest Fund Management Co. Ltd now owns 703 shares of the construction company’s stock valued at $202,000 after acquiring an additional 624 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Price Performance

EXP stock opened at $254.99 on Wednesday. Eagle Materials Inc. has a 52-week low of $211.44 and a 52-week high of $321.93. The company has a quick ratio of 1.01, a current ratio of 2.76 and a debt-to-equity ratio of 0.66. The stock has a market cap of $8.49 billion, a price-to-earnings ratio of 18.21 and a beta of 1.37. The business has a fifty day moving average of $257.51 and a two-hundred day moving average of $271.31.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings data on Wednesday, January 29th. The construction company reported $3.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.97 by ($0.38). Eagle Materials had a return on equity of 34.14% and a net margin of 20.91%. As a group, research analysts anticipate that Eagle Materials Inc. will post 14.39 earnings per share for the current year.

Eagle Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 17th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Monday, March 17th. Eagle Materials’s dividend payout ratio (DPR) is 7.14%.

Insider Transactions at Eagle Materials

In other Eagle Materials news, CEO Michael Haack sold 11,888 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $310.50, for a total transaction of $3,691,224.00. Following the sale, the chief executive officer now directly owns 85,811 shares in the company, valued at $26,644,315.50. This represents a 12.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Ross Stewart sold 3,577 shares of the firm’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 transaction of $1,074,173.10. Following the completion of the transaction, the director now directly owns 1,100 shares of the company’s stock, valued at approximately $330,330. The trade was a 76.48 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on EXP shares. JPMorgan Chase & Co. lifted their target price 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. The Goldman Sachs Group boosted their price target on shares of Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Loop Capital cut shares of Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price objective for the company. in a research note on Monday, November 25th. Citigroup lowered shares of Eagle Materials from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $334.00 to $280.00 in a research note on Monday, January 6th. Finally, DA Davidson dropped their price target on Eagle Materials from $265.00 to $260.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $296.80.

Eagle Materials Company 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.