Lord Abbett & CO. LLC Buys 27,397 Shares of Eagle Materials Inc. (NYSE:EXP)

Lord Abbett & CO. LLC grew its holdings in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) by 16.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 198,994 shares of the construction company's stock after buying an additional 27,397 shares during the period. Lord Abbett & CO. LLC owned 0.59% of Eagle Materials worth $57,241,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. McClarren Financial Advisors Inc. increased its position in shares of Eagle Materials by 10,750.0% during the second quarter. McClarren Financial Advisors Inc. now owns 217 shares of the construction company's stock valued at $47,000 after acquiring an additional 215 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Eagle Materials in the 3rd quarter worth about $64,000. Quent Capital LLC raised its position in Eagle Materials by 155.3% in the 3rd quarter. Quent Capital LLC now owns 434 shares of the construction company's stock worth $125,000 after buying an additional 264 shares during the last quarter. GAMMA Investing LLC lifted its stake in Eagle Materials by 29.7% during the 3rd quarter. GAMMA Investing LLC now owns 611 shares of the construction company's stock valued at $176,000 after acquiring an additional 140 shares during the period. Finally, Central Pacific Bank Trust Division boosted its holdings in shares of Eagle Materials by 23.5% during the 3rd quarter. Central Pacific Bank Trust Division now owns 630 shares of the construction company's stock valued at $181,000 after acquiring an additional 120 shares during the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Eagle Materials

In other Eagle Materials 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 completion of the transaction, the senior vice president now owns 13,212 shares in the company, valued at $4,148,568. This trade represents a 9.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael Haack sold 11,888 shares of the company's stock in a transaction that occurred on 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 directly owns 85,811 shares in the company, valued at $26,644,315.50. This trade represents a 12.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,866 shares of company stock valued at $5,482,931. Corporate insiders own 1.60% of the company's stock.

Eagle Materials Price Performance

NYSE:EXP traded down $4.28 on Friday, reaching $273.32. 365,914 shares of the company's stock traded hands, compared to its average volume of 304,071. The stock has a 50-day simple moving average of $297.21 and a 200-day simple moving average of $263.42. Eagle Materials Inc. has a 12 month low of $193.95 and a 12 month high of $321.93. The firm has a market cap of $9.17 billion, a PE ratio of 19.30 and a beta of 1.33. The company has a quick ratio of 1.14, a current ratio of 2.34 and a debt-to-equity ratio of 0.74.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its earnings results 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). Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. The business had revenue of $623.62 million for the quarter, compared to the consensus estimate of $651.46 million. During the same period last year, the business posted $4.28 EPS. The firm's revenue for the quarter was up .2% compared to the same quarter last year. Equities research analysts forecast that Eagle Materials Inc. will post 15.24 earnings per share for the current year.

Eagle Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 16th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.37%. Eagle Materials's dividend payout ratio is 7.06%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EXP. Truist Financial raised their price target on Eagle Materials from $320.00 to $330.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Loop Capital downgraded Eagle Materials from a "buy" rating to a "hold" rating and set a $315.00 price target for the company. in a research note on Monday, November 25th. JPMorgan Chase & Co. increased their price objective 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. Jefferies Financial Group boosted their target price on shares of Eagle Materials from $309.00 to $330.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group increased 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. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $307.11.

Eagle Materials 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.