Allspring Global Investments Holdings LLC Sells 69,747 Shares of Eagle Materials Inc $EXP

Allspring Global Investments Holdings LLC lessened its stake in shares of Eagle Materials Inc (NYSE:EXP) by 9.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 664,794 shares of the construction company’s stock after selling 69,747 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 2.05% of Eagle Materials worth $153,561,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in EXP. Norges Bank bought a new stake in Eagle Materials during the second quarter valued at about $87,626,000. American Century Companies Inc. boosted its holdings in shares of Eagle Materials by 80.9% in the 2nd quarter. American Century Companies Inc. now owns 521,276 shares of the construction company’s stock valued at $105,356,000 after buying an additional 233,153 shares in the last quarter. William Blair Investment Management LLC grew its position in shares of Eagle Materials by 57.2% in the 2nd quarter. William Blair Investment Management LLC now owns 611,745 shares of the construction company’s stock worth $123,640,000 after buying an additional 222,537 shares during the last quarter. Frontier Capital Management Co. LLC grew its position in shares of Eagle Materials by 36.0% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 830,284 shares of the construction company’s stock worth $167,809,000 after buying an additional 219,627 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in shares of Eagle Materials by 198.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 306,990 shares of the construction company’s stock worth $62,046,000 after acquiring an additional 204,060 shares in the last quarter. 96.07% of the stock is owned by institutional investors.

Eagle Materials Stock Performance

NYSE EXP opened at $210.35 on Wednesday. The firm has a market capitalization of $6.74 billion, a P/E ratio of 15.52 and a beta of 1.37. The stock has a 50-day simple moving average of $216.38 and a two-hundred day simple moving average of $221.90. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.22 and a current ratio of 2.72. Eagle Materials Inc has a fifty-two week low of $191.91 and a fifty-two week high of $265.42.

Eagle Materials (NYSE:EXP) last posted its earnings results on Thursday, October 30th. The construction company reported $4.23 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.12). Eagle Materials had a return on equity of 30.13% and a net margin of 19.41%.The company had revenue of $638.91 million for the quarter, compared to analyst estimates of $635.55 million. During the same period last year, the business earned $4.31 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. On average, equities analysts forecast that Eagle Materials Inc will post 14.39 earnings per share for the current year.

Eagle Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 12th. Investors of record on Monday, December 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, December 15th. Eagle Materials’s payout ratio is currently 7.38%.

Insider Transactions at Eagle Materials

In other news, Director David E. Rush purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were purchased at an average cost of $208.08 per share, with a total value of $208,080.00. Following the completion of the acquisition, the director owned 4,173 shares of the company’s stock, valued at approximately $868,317.84. This represents a 31.52% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on EXP shares. Stifel Nicolaus set a $246.00 target price on shares of Eagle Materials in a research note on Monday, October 27th. Wells Fargo & Company lowered their price objective on Eagle Materials from $261.00 to $251.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Truist Financial reaffirmed a “hold” rating and set a $210.00 target price (down from $280.00) on shares of Eagle Materials in a research report on Friday, December 19th. Jefferies Financial Group reiterated a “hold” rating and issued a $226.00 price target on shares of Eagle Materials in a research note on Monday, November 3rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Eagle Materials in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Eagle Materials currently has a consensus rating of “Hold” and an average target price of $236.30.

Eagle Materials Company Profile

Eagle Materials Inc (NYSE:EXP) is a Dallas, Texas–based manufacturer of building materials serving construction and heavy industry markets across the United States. The company’s primary products include portland and masonry cements, gypsum wallboard, lightweight aggregate, paperboard packaging, and roofing granules. These product lines support a wide range of end uses—from residential and commercial buildings to infrastructure projects and industrial applications.

Since its spin-off from a major homebuilding company in 2004, Eagle Materials has grown through targeted facility expansions and strategic acquisitions.