Lord Abbett & CO. LLC Lowers Holdings in Eagle Materials Inc $EXP

Key Points

• Lord Abbett & CO. LLC has reduced its stake in Eagle Materials Inc by 35.9%, now holding 73,715 shares valued at approximately $16.36 million.
• Eagle Materials recently announced a quarterly dividend of $0.25 per share, equating to an annualized dividend of $1.00 and a yield of 0.4%.
$3.76, surpassing analysts' expectations of $3.73.

Lord Abbett & CO. LLC reduced its stake in Eagle Materials Inc (NYSE:EXP - Free Report) by 35.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 73,715 shares of the construction company's stock after selling 41,326 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.22% of Eagle Materials worth $16,360,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Bridges Investment Management Inc. boosted its position in shares of Eagle Materials by 111.4% during the 1st quarter. Bridges Investment Management Inc. now owns 6,918 shares of the construction company's stock valued at $1,535,000 after acquiring an additional 3,645 shares during the last quarter. Teacher Retirement System of Texas increased its position in Eagle Materials by 234.6% during the first quarter. Teacher Retirement System of Texas now owns 4,905 shares of the construction company's stock valued at $1,089,000 after acquiring an additional 3,439 shares during the last quarter. Hi Line Capital Management LLC purchased a new stake in Eagle Materials in the first quarter worth about $4,770,000. GAMMA Investing LLC grew its position in shares of Eagle Materials by 21.2% during the first quarter. GAMMA Investing LLC now owns 819 shares of the construction company's stock worth $182,000 after purchasing an additional 143 shares in the last quarter. Finally, Private Trust Co. NA lifted its stake in shares of Eagle Materials by 39.0% in the 1st quarter. Private Trust Co. NA now owns 285 shares of the construction company's stock valued at $63,000 after purchasing an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EXP. DA Davidson decreased their target price on Eagle Materials from $260.00 to $245.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Stephens set a $255.00 target price on Eagle Materials and gave the company an "overweight" rating in a research report on Thursday, May 22nd. Wall Street Zen raised Eagle Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Loop Capital lifted their price target on Eagle Materials from $230.00 to $245.00 and gave the company a "hold" rating in a report on Wednesday, July 30th. Finally, Truist Financial cut their price target on Eagle Materials from $330.00 to $280.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Eagle Materials currently has a consensus rating of "Hold" and an average target price of $255.33.

Eagle Materials Price Performance

Shares of Eagle Materials stock traded down $0.2250 during mid-day trading on Thursday, reaching $225.9950. 50,593 shares of the stock traded hands, compared to its average volume of 397,996. The company has a quick ratio of 1.26, a current ratio of 2.73 and a debt-to-equity ratio of 0.87. The business has a 50-day moving average of $216.35 and a 200 day moving average of $221.40. The stock has a market capitalization of $7.33 billion, a PE ratio of 16.70 and a beta of 1.24. Eagle Materials Inc has a fifty-two week low of $191.91 and a fifty-two week high of $321.93.

Eagle Materials (NYSE:EXP - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The construction company reported $3.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.73 by $0.03. The business had revenue of $634.69 million during the quarter, compared to analyst estimates of $611.52 million. Eagle Materials had a return on equity of 31.21% and a net margin of 19.81%. On average, analysts predict that Eagle Materials Inc will post 14.39 EPS for the current year.

Eagle Materials Announces Dividend

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

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.