Allspring Global Investments Holdings LLC Cuts Stake in Eagle Materials Inc $EXP

Allspring Global Investments Holdings LLC lessened its holdings in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 34.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 391,591 shares of the construction company's stock after selling 209,234 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.25% of Eagle Materials worth $74,778,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Clearstead Advisors LLC lifted its holdings in shares of Eagle Materials by 266.7% in the fourth quarter. Clearstead Advisors LLC now owns 132 shares of the construction company's stock worth $27,000 after buying an additional 96 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Eagle Materials in the fourth quarter worth about $29,000. IFP Advisors Inc boosted its stake in Eagle Materials by 389.3% during the fourth quarter. IFP Advisors Inc now owns 137 shares of the construction company's stock valued at $28,000 after buying an additional 109 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new position in Eagle Materials during the third quarter valued at approximately $34,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Eagle Materials by 102.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company's stock valued at $35,000 after buying an additional 87 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Stock Down 3.7%

Shares of EXP opened at $206.13 on Friday. The firm has a fifty day moving average price of $213.33 and a 200-day moving average price of $211.16. The company has a current ratio of 3.66, a quick ratio of 2.09 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $6.37 billion, a P/E ratio of 15.71 and a beta of 1.37. Eagle Materials Inc has a 12-month low of $171.99 and a 12-month high of $245.53.

Eagle Materials (NYSE:EXP - Get Free Report) last posted its quarterly earnings results on Tuesday, May 19th. The construction company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.59 by $0.32. Eagle Materials had a net margin of 18.36% and a return on equity of 28.27%. The company had revenue of $479.11 million for the quarter, compared to the consensus estimate of $451.99 million. During the same quarter last year, the firm posted $2.00 EPS. The firm's revenue was up 1.9% compared to the same quarter last year. Equities research analysts expect that Eagle Materials Inc will post 12.9 earnings per share for the current year.

Eagle Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Monday, June 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, June 15th. Eagle Materials's dividend payout ratio is presently 7.62%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EXP shares. Zacks Research raised shares of Eagle Materials from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 1st. Stephens decreased their price target on shares of Eagle Materials from $235.00 to $225.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 20th. JPMorgan Chase & Co. upgraded shares of Eagle Materials from an "underweight" rating to a "neutral" rating and set a $225.00 price objective for the company in a research report on Tuesday, June 2nd. Jefferies Financial Group reissued a "hold" rating and issued a $200.00 price objective on shares of Eagle Materials in a research note on Wednesday, May 20th. Finally, Wall Street Zen upgraded shares of Eagle Materials from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Eagle Materials currently has an average rating of "Hold" and an average price target of $226.00.

About Eagle Materials

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.

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