Corebridge Financial Inc. Lowers Stock Holdings in Eagle Materials Inc. (NYSE:EXP)

Corebridge Financial Inc. cut its stake in Eagle Materials Inc. (NYSE:EXP - Free Report) by 4.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,242 shares of the construction company's stock after selling 1,808 shares during the quarter. Corebridge Financial Inc. owned about 0.11% of Eagle Materials worth $9,437,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Coldstream Capital Management Inc. raised its holdings in Eagle Materials by 1.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,981 shares of the construction company's stock worth $858,000 after purchasing an additional 41 shares during the period. Sprott Inc. lifted its position in shares of Eagle Materials by 3.0% during the 4th quarter. Sprott Inc. now owns 1,695 shares of the construction company's stock valued at $418,000 after buying an additional 50 shares in the last quarter. CIBC Asset Management Inc grew its stake in Eagle Materials by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,086 shares of the construction company's stock valued at $268,000 after acquiring an additional 54 shares during the period. Smartleaf Asset Management LLC grew its stake in Eagle Materials by 10.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 569 shares of the construction company's stock valued at $140,000 after acquiring an additional 56 shares during the period. Finally, National Bank of Canada FI increased its holdings in Eagle Materials by 1.5% in the 3rd quarter. National Bank of Canada FI now owns 3,872 shares of the construction company's stock worth $1,114,000 after acquiring an additional 57 shares in the last quarter. 96.07% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

EXP has been the topic of several recent analyst reports. Stephens reaffirmed an "overweight" rating and set a $310.00 price objective on shares of Eagle Materials in a report on Thursday, January 30th. Stifel Nicolaus started coverage on Eagle Materials in a report on Tuesday, March 4th. They issued a "hold" rating and a $242.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on Eagle Materials from $310.00 to $250.00 and set a "neutral" rating for the company in a report on Wednesday, March 19th. Citigroup downgraded Eagle Materials from a "buy" rating to a "neutral" rating and decreased their target price for the company from $334.00 to $280.00 in a research report 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. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Eagle Materials currently has a consensus rating of "Hold" and a consensus price target of $286.40.

Eagle Materials Trading Up 0.4 %

Shares of NYSE EXP traded up $0.92 during trading on Monday, hitting $221.89. 472,333 shares of the company were exchanged, compared to its average volume of 318,533. The company has a fifty day moving average price of $235.73 and a 200-day moving average price of $265.19. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 2.76. The firm has a market capitalization of $7.39 billion, a PE ratio of 15.85 and a beta of 1.37. Eagle Materials Inc. has a 12-month low of $205.44 and a 12-month high of $321.93.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its earnings results on Wednesday, January 29th. The construction company reported $3.59 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, equities research analysts expect that Eagle Materials Inc. will post 14.39 EPS for the current year.

Eagle Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 17th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 0.45%. Eagle Materials's payout ratio is 7.14%.

Insiders Place Their Bets

In related news, Director Michael R. Nicolais acquired 310 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were purchased at an average cost of $257.36 per share, for a total transaction of $79,781.60. Following the acquisition, the director now owns 3,655 shares in the company, valued at $940,650.80. The trade was a 9.27 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by 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.