Northern Trust Corp Grows Position in Eagle Materials Inc. (NYSE:EXP)

Northern Trust Corp raised its position in Eagle Materials Inc. (NYSE:EXP - Free Report) by 8.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 286,766 shares of the construction company's stock after purchasing an additional 23,355 shares during the quarter. Northern Trust Corp owned 0.86% of Eagle Materials worth $70,762,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Barclays PLC lifted its stake in shares of Eagle Materials by 78.1% during the 3rd quarter. Barclays PLC now owns 37,948 shares of the construction company's stock worth $10,915,000 after acquiring an additional 16,645 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Eagle Materials by 12.7% during the 3rd quarter. Tidal Investments LLC now owns 3,123 shares of the construction company's stock valued at $898,000 after purchasing an additional 353 shares during the last quarter. Franklin Resources Inc. grew its stake in Eagle Materials by 6.9% during the 3rd 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 last quarter. JPMorgan Chase & Co. raised its stake in Eagle Materials by 60.3% in the third quarter. JPMorgan Chase & Co. now owns 1,735,133 shares of the construction company's stock valued at $499,111,000 after buying an additional 652,836 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Eagle Materials by 10.6% in the 4th quarter. GAMMA Investing LLC now owns 676 shares of the construction company's stock valued at $167,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company's stock.

Insider Buying and Selling at Eagle Materials

In related news, Director Michael R. Nicolais purchased 310 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was purchased 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 owns 3,655 shares in the company, valued at $940,650.80. This trade represents a 9.27 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

EXP has been the topic of a number of research analyst reports. DA Davidson dropped their price objective 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. JPMorgan Chase & Co. cut 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 note on Wednesday, March 19th. Stephens restated an "overweight" rating and set a $310.00 target price on shares of Eagle Materials in a research report on Thursday, January 30th. Stifel Nicolaus initiated coverage on Eagle Materials in a research note on Tuesday, March 4th. They set a "hold" rating and a $242.00 price objective for the company. Finally, Truist Financial lowered their target price on Eagle Materials from $330.00 to $280.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Eagle Materials presently has an average rating of "Hold" and an average price target of $274.40.

Eagle Materials Stock Up 0.5 %

EXP opened at $235.20 on Tuesday. The company has a market cap of $7.83 billion, a PE ratio of 16.80 and a beta of 1.25. Eagle Materials Inc. has a twelve month low of $201.61 and a twelve month high of $321.93. The company has a 50-day moving average price of $220.16 and a 200 day moving average price of $252.71. The company has a quick ratio of 1.01, a current ratio of 2.76 and a debt-to-equity ratio of 0.66.

Eagle Materials Dividend Announcement

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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Monday, March 17th. Eagle Materials's payout ratio is 7.14%.

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.

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