Principal Financial Group Inc. Lowers Holdings in Eagle Materials Inc. (NYSE:EXP)

Principal Financial Group Inc. lowered its stake in Eagle Materials Inc. (NYSE:EXP - Free Report) by 31.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,435 shares of the construction company's stock after selling 36,592 shares during the quarter. Principal Financial Group Inc. owned about 0.23% of Eagle Materials worth $22,562,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Baupost Group LLC MA acquired a new stake in Eagle Materials in the 1st quarter valued at approximately $71,199,000. Captrust Financial Advisors grew its stake in shares of Eagle Materials by 61.6% in the first quarter. Captrust Financial Advisors now owns 509,605 shares of the construction company's stock valued at $138,485,000 after buying an additional 194,342 shares in the last quarter. Jupiter Asset Management Ltd. raised its holdings in shares of Eagle Materials by 3,537.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 172,779 shares of the construction company's stock valued at $46,953,000 after buying an additional 168,029 shares during the period. Epoch Investment Partners Inc. lifted its stake in Eagle Materials by 25.2% during the 2nd 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 holdings in Eagle Materials by 33.4% during the 2nd quarter. Federated Hermes Inc. now owns 529,701 shares of the construction company's stock valued at $115,189,000 after acquiring an additional 132,677 shares during the period. Hedge funds and other institutional investors own 96.07% of the company's stock.

Insider Transactions at Eagle Materials

In related news, SVP Tony Thompson sold 1,401 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $314.00, for a total transaction of $439,914.00. Following the transaction, the senior vice president now owns 13,212 shares in the company, valued at $4,148,568. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Eagle Materials news, SVP Tony Thompson sold 1,401 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $314.00, for a total transaction of $439,914.00. Following the transaction, the senior vice president now directly owns 13,212 shares of the company's stock, valued at approximately $4,148,568. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director George John Damiris sold 1,000 shares of Eagle Materials stock in a transaction 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 completion of the transaction, the director now owns 7,943 shares in the company, 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. Insiders own 1.60% of the company's stock.

Eagle Materials Stock Down 1.0 %

Shares of NYSE EXP traded down $2.98 during midday trading on Thursday, hitting $305.27. 136,879 shares of the company's stock were exchanged, compared to its average volume of 305,477. The firm's fifty day simple moving average is $286.35 and its 200-day simple moving average is $256.53. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.34 and a quick ratio of 1.14. The company has a market cap of $10.24 billion, a PE ratio of 21.77 and a beta of 1.32. Eagle Materials Inc. has a twelve month low of $172.20 and a twelve month high of $317.00.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The construction company reported $4.31 earnings per share for the quarter, missing the consensus estimate of $4.75 by ($0.44). The company had revenue of $623.62 million for the quarter, compared to analysts' expectations of $651.46 million. Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. The firm's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.28 EPS. Research analysts predict that Eagle Materials Inc. will post 15.24 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Monday, December 16th. Eagle Materials's payout ratio is 7.06%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Truist Financial boosted their price target on shares of Eagle Materials from $320.00 to $330.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. JPMorgan Chase & Co. raised their price target on shares of Eagle Materials from $270.00 to $290.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. The Goldman Sachs Group upped their price objective on Eagle Materials from $277.00 to $317.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Raymond James cut Eagle Materials from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 17th. Finally, Stephens increased their price target on Eagle Materials from $280.00 to $315.00 and gave the company an "overweight" rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Eagle Materials presently has a consensus rating of "Moderate Buy" and a consensus target price of $303.78.

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.