Eagle Materials Inc $EXP Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC cut its stake in Eagle Materials by 9.6%, selling 63,969 shares and leaving it with 600,825 shares (about 1.87% of the company) valued at roughly $127.0 million.
• Eagle Materials missed Q4 estimates with EPS of $3.22 versus $3.32 expected and revenue of $555.96 million (vs. $556.41M), while reporting a 18.7% net margin and a 28.96% return on equity.
• The company announced a quarterly dividend of $0.25 (annualized $1.00, yield 0.6%; ex-dividend March 16, payable April 13), and analysts hold a consensus "Hold" rating with a $228.36 price target.

Allspring Global Investments Holdings LLC lowered its position in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 9.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 600,825 shares of the construction company's stock after selling 63,969 shares during the period. Allspring Global Investments Holdings LLC owned about 1.87% of Eagle Materials worth $127,044,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Focus Partners Wealth boosted its holdings in shares of Eagle Materials by 21.5% in the first quarter. Focus Partners Wealth now owns 2,019 shares of the construction company's stock valued at $448,000 after acquiring an additional 357 shares during the period. MAI Capital Management increased its holdings in shares of Eagle Materials by 3,060.0% in the 2nd quarter. MAI Capital Management now owns 158 shares of the construction company's stock valued at $32,000 after acquiring an additional 153 shares during the period. Prudential Financial Inc. increased its holdings in shares of Eagle Materials by 38.7% in the 2nd quarter. Prudential Financial Inc. now owns 3,252 shares of the construction company's stock valued at $657,000 after acquiring an additional 907 shares during the period. Steward Partners Investment Advisory LLC raised its position in Eagle Materials by 10.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,986 shares of the construction company's stock valued at $401,000 after purchasing an additional 185 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in Eagle Materials by 4.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 23,117 shares of the construction company's stock valued at $4,672,000 after purchasing an additional 1,011 shares during the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Stock Down 0.3%

Shares of Eagle Materials stock opened at $181.77 on Tuesday. Eagle Materials Inc has a one year low of $171.99 and a one year high of $243.64. The company has a market cap of $5.71 billion, a P/E ratio of 13.76 and a beta of 1.35. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.68 and a current ratio of 4.27. The firm has a fifty day moving average of $210.90 and a two-hundred day moving average of $218.57.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its earnings results on Thursday, January 29th. The construction company reported $3.22 earnings per share for the quarter, missing the consensus estimate of $3.32 by ($0.10). Eagle Materials had a net margin of 18.70% and a return on equity of 28.96%. The firm had revenue of $555.96 million during the quarter, compared to analysts' expectations of $556.41 million. During the same period in the previous year, the firm earned $3.59 EPS. The firm's revenue was down .4% on a year-over-year basis. On average, analysts forecast that Eagle Materials Inc will post 14.39 earnings per share for the current year.

Eagle Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Monday, March 16th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, March 16th. Eagle Materials's payout ratio is currently 7.57%.

Analysts Set New Price Targets

EXP has been the topic of several research reports. JPMorgan Chase & Co. reissued an "underweight" rating and set a $215.00 price objective (down from $230.00) on shares of Eagle Materials in a research report on Monday, February 16th. Royal Bank Of Canada set a $208.00 target price on shares of Eagle Materials in a report on Tuesday, February 24th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Eagle Materials in a research note on Monday, December 29th. DA Davidson lowered their price target on Eagle Materials from $225.00 to $210.00 and set a "neutral" rating on the stock in a report on Monday, February 2nd. Finally, Stephens restated an "equal weight" rating and issued a $245.00 price target on shares of Eagle Materials in a research report on Tuesday, January 20th. Two equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $228.36.

Eagle Materials 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.

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