Allspring Global Investments Holdings LLC Raises Position in Eagle Materials Inc (NYSE:EXP)

Allspring Global Investments Holdings LLC grew its position in Eagle Materials Inc (NYSE:EXP) by 0.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 705,982 shares of the construction company’s stock after acquiring an additional 1,108 shares during the period. Allspring Global Investments Holdings LLC owned about 2.12% of Eagle Materials worth $160,597,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC boosted its holdings in shares of Eagle Materials by 26.8% in the first quarter. Parallel Advisors LLC now owns 246 shares of the construction company’s stock valued at $55,000 after acquiring an additional 52 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Eagle Materials by 6.0% in the fourth quarter. Hsbc Holdings PLC now owns 973 shares of the construction company’s stock valued at $240,000 after acquiring an additional 55 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of 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 acquiring an additional 56 shares in the last quarter. Private Trust Co. NA boosted its holdings in Eagle Materials by 53.0% during the fourth quarter. Private Trust Co. NA now owns 205 shares of the construction company’s stock worth $51,000 after buying an additional 71 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in Eagle Materials by 0.4% during the first quarter. State of Alaska Department of Revenue now owns 17,433 shares of the construction company’s stock worth $3,868,000 after buying an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Eagle Materials Stock Performance

Shares of EXP opened at $204.38 on Friday. The company has a current ratio of 2.73, a quick ratio of 1.03 and a debt-to-equity ratio of 0.84. The stock has a market cap of $6.67 billion, a P/E ratio of 14.85 and a beta of 1.28. The company has a 50-day moving average of $213.93 and a two-hundred day moving average of $229.69. Eagle Materials Inc has a 12-month low of $191.91 and a 12-month high of $321.93.

Eagle Materials (NYSE:EXP) last announced its earnings results on Tuesday, May 20th. The construction company reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.26). The business had revenue of $470.18 million for the quarter, compared to analyst estimates of $483.14 million. Eagle Materials had a return on equity of 32.71% and a net margin of 20.50%. The business’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.24 EPS. As a group, research analysts predict that Eagle Materials Inc will post 14.39 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Monday, June 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Monday, June 16th. Eagle Materials’s payout ratio is currently 7.27%.

Analyst Upgrades and Downgrades

EXP has been the topic of a number of research analyst reports. The Goldman Sachs Group set a $242.00 price objective on shares of Eagle Materials and gave the stock a “buy” rating in a report on Wednesday, May 21st. Truist Financial decreased their price objective 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. Stephens set a $255.00 price objective on shares of Eagle Materials and gave the stock an “overweight” rating in a report on Thursday, May 22nd. Wall Street Zen raised shares of Eagle Materials from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Citigroup decreased their price objective on shares of Eagle Materials from $279.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, May 28th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $254.44.

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.