Corebridge Financial Inc. Trims Stock Position in Eagle Materials Inc $EXP

Key Points

• Corebridge Financial Inc. has reduced its stake in Eagle Materials Inc by 3.1%, leaving it with 37,045 shares valued at approximately $8.22 million as of the latest SEC filing.
• Numerous hedge funds have adjusted their holdings in Eagle Materials, with increases noted from firms like Assetmark Inc., which boosted its position by 486.6% in the first quarter.
• Eagle Materials is set to pay a quarterly dividend of $0.25 per share on October 16, with a current annualized dividend yield of 0.4%.

Corebridge Financial Inc. lessened its position in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,045 shares of the construction company's stock after selling 1,197 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of Eagle Materials worth $8,221,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. SVB Wealth LLC bought a new stake in Eagle Materials in the 1st quarter worth $41,000. Parallel Advisors LLC lifted its position in Eagle Materials by 26.8% during the 1st quarter. Parallel Advisors LLC now owns 246 shares of the construction company's stock valued at $55,000 after acquiring an additional 52 shares during the period. Private Trust Co. NA lifted its position in Eagle Materials by 39.0% during the 1st quarter. Private Trust Co. NA now owns 285 shares of the construction company's stock valued at $63,000 after acquiring an additional 80 shares during the period. Assetmark Inc. lifted its stake in shares of Eagle Materials by 486.6% in the first quarter. Assetmark Inc. now owns 393 shares of the construction company's stock worth $87,000 after buying an additional 326 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Eagle Materials by 39.1% in the first quarter. Signaturefd LLC now owns 466 shares of the construction company's stock worth $103,000 after buying an additional 131 shares in the last quarter. Institutional investors own 96.07% of the company's stock.

Eagle Materials Stock Up 0.0%

Shares of Eagle Materials stock traded up $0.07 on Friday, reaching $230.56. The stock had a trading volume of 274,962 shares, compared to its average volume of 311,441. The company has a 50 day moving average price of $221.55 and a 200 day moving average price of $219.97. The company has a quick ratio of 1.26, a current ratio of 2.73 and a debt-to-equity ratio of 0.87. Eagle Materials Inc has a 1 year low of $191.91 and a 1 year high of $321.93. The stock has a market capitalization of $7.48 billion, a P/E ratio of 16.98 and a beta of 1.28.

Eagle Materials (NYSE:EXP - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The construction company reported $3.76 EPS for the quarter, beating the consensus estimate of $3.73 by $0.03. Eagle Materials had a net margin of 19.81% and a return on equity of 31.21%. The business had revenue of $634.69 million for the quarter, compared to the consensus estimate of $611.52 million. As a group, equities research analysts forecast that Eagle Materials Inc will post 14.39 EPS for the current year.

Eagle Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Monday, September 15th will be paid 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 dividend payout ratio (DPR) is currently 7.36%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on EXP shares. JPMorgan Chase & Co. boosted their price objective on shares of Eagle Materials from $220.00 to $245.00 and gave the company a "neutral" rating in a report on Tuesday, August 26th. Stifel Nicolaus set a $241.00 price objective on shares of Eagle Materials and gave the stock a "hold" rating in a research note on Wednesday, May 21st. Wall Street Zen raised shares of Eagle Materials from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Loop Capital raised their target price on shares of Eagle Materials from $230.00 to $245.00 and gave the company a "hold" rating in a research note on Wednesday, July 30th. Finally, Citigroup lowered their price objective on shares of Eagle Materials from $279.00 to $230.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $254.78.

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.