Lord Abbett & CO. LLC Reduces Stock Position in Eagle Materials Inc. (NYSE:EXP)

Lord Abbett & CO. LLC reduced its position in Eagle Materials Inc. (NYSE:EXP - Free Report) by 42.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 115,041 shares of the construction company's stock after selling 83,953 shares during the period. Lord Abbett & CO. LLC owned 0.35% of Eagle Materials worth $28,388,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Sprott Inc. lifted its stake in Eagle Materials by 3.0% in the fourth quarter. Sprott Inc. now owns 1,695 shares of the construction company's stock valued at $418,000 after buying an additional 50 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Eagle Materials by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,086 shares of the construction company's stock worth $268,000 after purchasing an additional 54 shares during the period. Hsbc Holdings PLC grew its position in Eagle Materials by 6.0% during the 4th quarter. Hsbc Holdings PLC now owns 973 shares of the construction company's stock worth $240,000 after purchasing an additional 55 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Eagle Materials by 10.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 569 shares of the construction company's stock valued at $140,000 after purchasing an additional 56 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Eagle Materials by 7.1% in the fourth quarter. Blue Trust Inc. now owns 920 shares of the construction company's stock valued at $227,000 after buying an additional 61 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Eagle Materials Price Performance

Shares of EXP stock traded up $1.29 during midday trading on Thursday, reaching $227.68. 242,160 shares of the company traded hands, compared to its average volume of 333,648. The firm's 50 day simple moving average is $219.89 and its two-hundred day simple moving average is $254.77. The firm has a market cap of $7.58 billion, a PE ratio of 16.26 and a beta of 1.25. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.76 and a quick ratio of 1.01. Eagle Materials Inc. has a 1-year low of $201.61 and a 1-year high of $321.93.

Eagle Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Investors of record on Monday, March 17th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 0.44%. Eagle Materials's dividend payout ratio is presently 7.14%.

Insiders Place Their Bets

In other Eagle Materials news, Director Michael R. Nicolais purchased 310 shares of Eagle Materials stock in a transaction on Monday, February 10th. The shares were bought at an average price of $257.36 per share, with a total value of $79,781.60. Following the completion of the acquisition, the director now directly owns 3,655 shares of the company's stock, valued at approximately $940,650.80. This trade represents a 9.27 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Stephens reissued an "overweight" rating and set a $310.00 price target on shares of Eagle Materials in a report on Thursday, January 30th. Stifel Nicolaus started coverage on Eagle Materials in a report on Tuesday, March 4th. They issued a "hold" rating and a $242.00 target price on the stock. Loop Capital cut their price target on Eagle Materials from $280.00 to $245.00 and set a "hold" rating for the company in a research note on Tuesday, April 1st. JPMorgan Chase & Co. lowered their price objective on shares of Eagle Materials from $310.00 to $250.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. Finally, DA Davidson cut their price objective on shares of Eagle Materials from $265.00 to $260.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $274.40.

Eagle Materials 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.