Eagle Materials Inc. (NYSE:EXP) Shares Acquired by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC boosted its stake in Eagle Materials Inc. (NYSE:EXP) by 16.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 198,994 shares of the construction company’s stock after buying an additional 27,397 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Eagle Materials were worth $57,241,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. FMR LLC lifted its position in shares of Eagle Materials by 30.1% in the third quarter. FMR LLC now owns 3,801,257 shares of the construction company’s stock valued at $1,093,432,000 after acquiring an additional 878,400 shares in the last quarter. Epoch Investment Partners Inc. lifted its holdings in shares of Eagle Materials by 25.2% during the 2nd quarter. Epoch Investment Partners Inc. now owns 805,257 shares of the construction company’s stock worth $175,111,000 after acquiring an additional 162,049 shares during the period. Baupost Group LLC MA lifted its holdings in shares of Eagle Materials by 46.2% during the 3rd quarter. Baupost Group LLC MA now owns 500,273 shares of the construction company’s stock worth $143,904,000 after acquiring an additional 158,171 shares during the period. Federated Hermes Inc. grew its holdings in Eagle Materials by 33.4% in the second quarter. Federated Hermes Inc. now owns 529,701 shares of the construction company’s stock valued at $115,189,000 after purchasing an additional 132,677 shares during the period. Finally, World Investment Advisors LLC acquired a new position in Eagle Materials during the third quarter worth approximately $34,846,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

Eagle Materials Stock Performance

Shares of NYSE:EXP opened at $273.32 on Friday. The business’s 50-day simple moving average is $297.21 and its 200 day simple moving average is $263.17. The company has a market cap of $9.17 billion, a P/E ratio of 19.30 and a beta of 1.33. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 2.34. Eagle Materials Inc. has a one year low of $193.95 and a one year high of $321.93.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Tuesday, October 29th. The construction company reported $4.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.44). The firm had revenue of $623.62 million for the quarter, compared to analysts’ expectations of $651.46 million. Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.28 EPS. On average, sell-side analysts forecast that Eagle Materials Inc. will post 15.24 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 16th will be given a $0.25 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.37%. Eagle Materials’s payout ratio is currently 7.06%.

Insider Activity

In other news, Director George John Damiris sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $277.62, for a total transaction of $277,620.00. Following the completion of the sale, the director now owns 7,943 shares of the company’s stock, valued at approximately $2,205,135.66. This trade represents a 11.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Tony Thompson sold 1,401 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $314.00, for a total transaction of $439,914.00. Following the completion of the sale, the senior vice president now directly owns 13,212 shares in the company, valued at $4,148,568. This represents a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,866 shares of company stock worth $5,482,931 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EXP. Jefferies Financial Group lifted their price target on shares of Eagle Materials from $309.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Truist Financial lifted their target price on Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, November 4th. The Goldman Sachs Group upped their price target on Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Loop Capital lowered Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price objective on the stock. in a research note on Monday, November 25th. Finally, JPMorgan Chase & Co. boosted their target price on Eagle Materials from $290.00 to $310.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $307.11.

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.