Franklin Resources Inc. Has $48.44 Million Stake in Eagle Materials Inc. (NYSE:EXP)

Franklin Resources Inc. grew its position in Eagle Materials Inc. (NYSE:EXP - Free Report) by 6.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 162,863 shares of the construction company's stock after acquiring an additional 10,459 shares during the period. Franklin Resources Inc. owned 0.49% of Eagle Materials worth $48,435,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. McClarren Financial Advisors Inc. grew its holdings in Eagle Materials by 10,750.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 217 shares of the construction company's stock worth $47,000 after acquiring an additional 215 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Eagle Materials during the third quarter worth approximately $64,000. Quent Capital LLC grew its stake in shares of Eagle Materials by 155.3% during the third quarter. Quent Capital LLC now owns 434 shares of the construction company's stock valued at $125,000 after purchasing an additional 264 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Eagle Materials by 22.5% in the second quarter. Blue Trust Inc. now owns 680 shares of the construction company's stock valued at $148,000 after purchasing an additional 125 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Eagle Materials by 29.7% in 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. 96.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Jefferies Financial Group lowered Eagle Materials from a "buy" rating to a "hold" rating and decreased their price objective for the company from $330.00 to $310.00 in a research report on Monday. The Goldman Sachs Group lifted 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. Loop Capital downgraded shares of Eagle Materials from a "buy" rating to a "hold" rating and set a $315.00 target price on the stock. in a research report on Monday, November 25th. JPMorgan Chase & Co. lifted their price target on shares of Eagle Materials from $290.00 to $310.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 27th. Finally, Truist Financial increased their price objective on shares of Eagle Materials from $320.00 to $330.00 and gave the company a "buy" rating in a report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Eagle Materials currently has an average rating of "Moderate Buy" and an average target price of $304.89.

Insider Activity

In other news, Director Richard Ross Stewart sold 3,577 shares of the firm's stock in a transaction dated 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 owns 1,100 shares in the company, valued at $330,330. This trade represents a 76.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Haack sold 11,888 shares of the company's stock in a transaction dated Friday, November 22nd. The stock was 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 $26,644,315.50. The trade was a 12.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,866 shares of company stock worth $5,205,311 over the last three months. Corporate insiders own 1.60% of the company's stock.

Eagle Materials Price Performance

Shares of EXP opened at $266.15 on Wednesday. The stock has a 50 day simple moving average of $296.42 and a 200 day simple moving average of $263.90. Eagle Materials Inc. has a 52-week low of $195.93 and a 52-week high of $321.93. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 2.34. The firm has a market capitalization of $8.93 billion, a PE ratio of 18.80 and a beta of 1.33.

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 (EPS) 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 the consensus estimate of $651.46 million. Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. The firm's revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company earned $4.28 EPS. Sell-side analysts predict that Eagle Materials Inc. will post 15.24 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The company 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. This represents a $1.00 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Monday, December 16th. Eagle Materials's dividend payout ratio is 7.06%.

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.