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

Allspring Global Investments Holdings LLC decreased its stake in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) by 3.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 704,874 shares of the construction company's stock after selling 28,022 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 2.10% of Eagle Materials worth $172,095,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of EXP. FMR LLC boosted its position in shares of Eagle Materials by 30.1% during the 3rd quarter. FMR LLC now owns 3,801,257 shares of the construction company's stock worth $1,093,432,000 after acquiring an additional 878,400 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Eagle Materials by 60.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,735,133 shares of the construction company's stock worth $499,111,000 after acquiring an additional 652,836 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Eagle Materials by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 707,607 shares of the construction company's stock worth $203,585,000 after acquiring an additional 23,911 shares in the last quarter. Baupost Group LLC MA boosted its position in shares of Eagle Materials by 46.2% during the 3rd quarter. Baupost Group LLC MA now owns 500,273 shares of the construction company's stock worth $143,904,000 after acquiring an additional 158,171 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of Eagle Materials by 2.7% during the 3rd quarter. Captrust Financial Advisors now owns 349,756 shares of the construction company's stock worth $100,607,000 after acquiring an additional 9,216 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on EXP. The Goldman Sachs Group upped their target price on Eagle Materials from $277.00 to $317.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on Eagle Materials from $290.00 to $310.00 and gave the company a "neutral" rating in a research report on Wednesday, November 27th. Truist Financial upped their target price on Eagle Materials from $320.00 to $330.00 and gave the company a "buy" rating in a research report on Monday, November 4th. DA Davidson decreased their target price 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. Finally, Loop Capital cut Eagle Materials from a "buy" rating to a "hold" rating and set a $315.00 target price for the company. in a research report on Monday, November 25th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $296.80.

Eagle Materials Stock Performance

Shares of EXP stock traded up $1.97 during trading hours on Friday, reaching $252.47. 239,537 shares of the company's stock were exchanged, compared to its average volume of 306,511. The company has a market cap of $8.40 billion, a P/E ratio of 18.03 and a beta of 1.37. The company's 50 day moving average is $254.52 and its two-hundred day moving average is $271.02. Eagle Materials Inc. has a 1 year low of $211.44 and a 1 year high of $321.93. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.76 and a quick ratio of 1.01.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its earnings results 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%. Equities research analysts anticipate that Eagle Materials Inc. will post 14.39 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 17th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.40%. The ex-dividend date is Monday, March 17th. Eagle Materials's payout ratio is currently 7.14%.

Insider Activity at Eagle Materials

In related news, Director Richard Ross Stewart sold 3,577 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 of the company's stock, valued at $330,330. This trade represents a 76.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Haack sold 11,888 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $310.50, for a total value of $3,691,224.00. Following the sale, the chief executive officer now owns 85,811 shares in the company, valued at approximately $26,644,315.50. This trade represents a 12.17 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

About Eagle Materials

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.