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

Key Points

• Allspring Global Investments Holdings LLC has increased its stake in Eagle Materials Inc by 4.0%, owning approximately 2.25% of the company, valued at $153.6 million.
• Eagle Materials reported earnings of $3.76 per share, exceeding expectations, with revenues of $634.69 million for the last quarter.
• The company announced a quarterly dividend of $0.25 per share, indicating a low payout ratio of 7.36%.

Allspring Global Investments Holdings LLC lifted its position in Eagle Materials Inc (NYSE:EXP - Free Report) by 4.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 734,541 shares of the construction company's stock after buying an additional 28,559 shares during the period. Allspring Global Investments Holdings LLC owned approximately 2.25% of Eagle Materials worth $153,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Transce3nd LLC boosted its stake in shares of Eagle Materials by 9.7% in the 1st quarter. Transce3nd LLC now owns 552 shares of the construction company's stock worth $122,000 after buying an additional 49 shares during the last quarter. Sheets Smith Wealth Management lifted its position in Eagle Materials by 2.0% during the second quarter. Sheets Smith Wealth Management now owns 2,750 shares of the construction company's stock valued at $556,000 after purchasing an additional 54 shares in the last quarter. Blue Trust Inc. lifted its position in Eagle Materials by 5.2% during the second quarter. Blue Trust Inc. now owns 1,146 shares of the construction company's stock valued at $232,000 after purchasing an additional 57 shares in the last quarter. Fulton Bank N.A. lifted its position in Eagle Materials by 6.1% during the second quarter. Fulton Bank N.A. now owns 1,084 shares of the construction company's stock valued at $219,000 after purchasing an additional 62 shares in the last quarter. Finally, Tectonic Advisors LLC lifted its position in Eagle Materials by 0.6% during the second quarter. Tectonic Advisors LLC now owns 9,652 shares of the construction company's stock valued at $1,951,000 after purchasing an additional 62 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Materials Trading Down 2.5%

Shares of EXP stock opened at $228.17 on Monday. Eagle Materials Inc has a 12-month low of $191.91 and a 12-month high of $321.93. The company has a current ratio of 2.73, a quick ratio of 1.26 and a debt-to-equity ratio of 0.87. The stock's 50-day moving average price is $231.62 and its 200-day moving average price is $221.64. The stock has a market capitalization of $7.40 billion, a price-to-earnings ratio of 16.80 and a beta of 1.31.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its earnings results on Tuesday, July 29th. The construction company reported $3.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.03. Eagle Materials had a return on equity of 31.21% and a net margin of 19.81%.The firm had revenue of $634.69 million for the quarter, compared to analysts' expectations of $611.52 million. Equities research analysts predict that Eagle Materials Inc will post 14.39 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Monday, September 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Eagle Materials's payout ratio is 7.36%.

Analysts Set New Price Targets

EXP has been the topic of several analyst reports. Wall Street Zen upgraded Eagle Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Eagle Materials in a research report on Wednesday, October 8th. Wells Fargo & Company upgraded Eagle Materials to a "strong-buy" rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on Eagle Materials from $220.00 to $245.00 and gave the company a "neutral" rating in a research report on Tuesday, August 26th. Finally, Loop Capital boosted their price objective on Eagle Materials from $230.00 to $245.00 and gave the company a "hold" rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $255.40.

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.

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