Allspring Global Investments Holdings LLC Sells 28,022 Shares of Eagle Materials Inc. (NYSE:EXP)

Allspring Global Investments Holdings LLC cut its holdings in Eagle Materials Inc. (NYSE:EXP) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 704,874 shares of the construction company’s stock after selling 28,022 shares during the period. Allspring Global Investments Holdings LLC owned 2.10% of Eagle Materials worth $172,095,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Barclays PLC grew its position in shares of Eagle Materials by 78.1% during the third quarter. Barclays PLC now owns 37,948 shares of the construction company’s stock valued at $10,915,000 after purchasing an additional 16,645 shares in the last quarter. Ausbil Investment Management Ltd raised its position in Eagle Materials by 400.3% during the third quarter. Ausbil Investment Management Ltd now owns 12,978 shares of the construction company’s stock valued at $3,733,000 after purchasing an additional 10,384 shares during the period. Baupost Group LLC MA boosted its holdings in shares of Eagle Materials by 46.2% in the 3rd quarter. Baupost Group LLC MA now owns 500,273 shares of the construction company’s stock worth $143,904,000 after purchasing an additional 158,171 shares during the period. Entropy Technologies LP bought a new position in shares of Eagle Materials during the 3rd quarter valued at approximately $920,000. Finally, Natixis Advisors LLC raised its holdings in Eagle Materials by 11.8% during the 3rd quarter. Natixis Advisors LLC now owns 27,265 shares of the construction company’s stock valued at $7,843,000 after buying an additional 2,871 shares during the period. 96.07% of the stock is currently owned by institutional investors.

Eagle Materials Price Performance

Shares of EXP opened at $254.99 on Wednesday. The stock has a market capitalization of $8.49 billion, a PE ratio of 18.21 and a beta of 1.37. The company has a 50 day moving average price of $257.51 and a 200-day moving average price of $271.31. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 2.76. Eagle Materials Inc. has a fifty-two week low of $211.44 and a fifty-two week high of $321.93.

Eagle Materials (NYSE:EXP) last announced its earnings results on Wednesday, January 29th. The construction company reported $3.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.97 by ($0.38). Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. Equities analysts predict that Eagle Materials Inc. will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 17th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Monday, March 17th. Eagle Materials’s dividend payout ratio is currently 7.14%.

Analyst Ratings Changes

EXP has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Eagle Materials from $290.00 to $310.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. The Goldman Sachs Group boosted their target price on Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lowered Eagle Materials from a “buy” rating to a “hold” rating and decreased their price target for the stock from $330.00 to $310.00 in a research note on Monday, December 16th. Truist Financial upped their price objective on Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Citigroup lowered shares of Eagle Materials from a “buy” rating to a “neutral” rating and lowered their target price for the company from $334.00 to $280.00 in a research note on Monday, January 6th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $296.80.

Insider Buying and Selling

In other Eagle Materials news, CEO Michael Haack sold 11,888 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $310.50, for a total value of $3,691,224.00. Following the completion of the transaction, the chief executive officer now owns 85,811 shares of the company’s stock, valued at approximately $26,644,315.50. This trade represents a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard Ross Stewart sold 3,577 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $300.30, for a total transaction of $1,074,173.10. Following the sale, the director now directly owns 1,100 shares in the company, valued at $330,330. This trade represents a 76.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

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.