MetLife Investment Management LLC Has $4.94 Million Stake in Eagle Materials Inc. (NYSE:EXP)

MetLife Investment Management LLC boosted its stake in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) by 8.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,014 shares of the construction company's stock after buying an additional 1,498 shares during the quarter. MetLife Investment Management LLC owned 0.06% of Eagle Materials worth $4,939,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EXP. Barclays PLC grew its position in Eagle Materials by 78.1% during the third quarter. Barclays PLC now owns 37,948 shares of the construction company's stock worth $10,915,000 after buying an additional 16,645 shares during the period. World Investment Advisors LLC acquired a new position in Eagle Materials during the third quarter worth about $34,846,000. Tidal Investments LLC grew its position in Eagle Materials by 12.7% during the third quarter. Tidal Investments LLC now owns 3,123 shares of the construction company's stock worth $898,000 after buying an additional 353 shares during the period. Franklin Resources Inc. grew its position in Eagle Materials by 6.9% during the third quarter. Franklin Resources Inc. now owns 162,863 shares of the construction company's stock worth $48,435,000 after buying an additional 10,459 shares during the period. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Eagle Materials by 16.0% in the third quarter. Lord Abbett & CO. LLC now owns 198,994 shares of the construction company's stock valued at $57,241,000 after purchasing an additional 27,397 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Michael R. Nicolais purchased 310 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average price of $257.36 per share, with a total value of $79,781.60. Following the purchase, the director now owns 3,655 shares in the company, valued at $940,650.80. This represents a 9.27 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company's stock.

Eagle Materials Price Performance

NYSE EXP traded up $0.31 on Wednesday, reaching $222.05. 39,633 shares of the stock traded hands, compared to its average volume of 332,218. The firm's fifty day simple moving average is $219.85 and its 200 day simple moving average is $254.96. The company has a quick ratio of 1.01, a current ratio of 2.76 and a debt-to-equity ratio of 0.66. The company has a market cap of $7.39 billion, a price-to-earnings ratio of 15.83 and a beta of 1.25. Eagle Materials Inc. has a 12 month low of $201.61 and a 12 month high of $321.93.

Eagle Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 14th. Stockholders of record on Monday, March 17th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Eagle Materials's payout ratio is currently 7.14%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EXP. Stifel Nicolaus began coverage on shares of Eagle Materials in a report on Tuesday, March 4th. They issued a "hold" rating and a $242.00 price target on the stock. Stephens reaffirmed an "overweight" rating and issued a $310.00 price target on shares of Eagle Materials in a report on Thursday, January 30th. Truist Financial reduced their price target on shares of Eagle Materials from $330.00 to $280.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Loop Capital reduced their price target on shares of Eagle Materials from $280.00 to $245.00 and set a "hold" rating on the stock in a report on Tuesday, April 1st. Finally, DA Davidson reduced their price target on shares of Eagle Materials from $265.00 to $260.00 and set a "neutral" rating on the stock in a report on Thursday, January 30th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target 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.