Allspring Global Investments Holdings LLC Reduces Stock Holdings in Eagle Materials Inc $EXP

Allspring Global Investments Holdings LLC reduced its stake in shares of Eagle Materials Inc (NYSE:EXP) by 34.8% in the 1st quarter, Holdings Channel reports. The fund owned 391,591 shares of the construction company’s stock after selling 209,234 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Eagle Materials were worth $74,778,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Clearstead Advisors LLC grew its stake in Eagle Materials by 266.7% in the 4th quarter. Clearstead Advisors LLC now owns 132 shares of the construction company’s stock valued at $27,000 after acquiring an additional 96 shares during the period. IFP Advisors Inc grew its position in shares of Eagle Materials by 389.3% in the fourth quarter. IFP Advisors Inc now owns 137 shares of the construction company’s stock valued at $28,000 after purchasing an additional 109 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in Eagle Materials in the 4th quarter valued at $29,000. Measured Wealth Private Client Group LLC acquired a new stake in Eagle Materials during the third quarter worth about $34,000. Finally, EverSource Wealth Advisors LLC raised its position in Eagle Materials by 102.4% in the second quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company’s stock valued at $35,000 after purchasing an additional 87 shares during the period. 96.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EXP has been the subject of several research analyst reports. Wall Street Zen upgraded Eagle Materials from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Zacks Research upgraded shares of Eagle Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 1st. JPMorgan Chase & Co. upgraded shares of Eagle Materials from an “underweight” rating to a “neutral” rating and set a $225.00 target price for the company in a research note on Tuesday, June 2nd. Royal Bank Of Canada raised their price objective on shares of Eagle Materials from $208.00 to $219.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 20th. Finally, Citigroup upped their target price on shares of Eagle Materials from $217.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $226.00.

Eagle Materials Stock Performance

NYSE EXP opened at $206.13 on Friday. The business’s 50-day moving average price is $213.33 and its 200 day moving average price is $211.16. The company has a current ratio of 3.66, a quick ratio of 2.09 and a debt-to-equity ratio of 1.18. Eagle Materials Inc has a twelve month low of $171.99 and a twelve month high of $245.53. The company has a market capitalization of $6.37 billion, a PE ratio of 15.71 and a beta of 1.37.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Tuesday, May 19th. The construction company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.32. The company had revenue of $479.11 million during the quarter, compared to the consensus estimate of $451.99 million. Eagle Materials had a net margin of 18.36% and a return on equity of 28.27%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.00 EPS. On average, research analysts predict that Eagle Materials Inc will post 12.9 earnings per share for the current year.

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, June 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.00 annualized dividend and a yield of 0.5%. Eagle Materials’s dividend payout ratio is 7.62%.

Eagle Materials Profile

Eagle Materials Inc (NYSE:EXP) is a Dallas, Texas–based manufacturer of building materials serving construction and heavy industry markets across the United States. The company’s primary products include portland and masonry cements, gypsum wallboard, lightweight aggregate, paperboard packaging, and roofing granules. These product lines support a wide range of end uses—from residential and commercial buildings to infrastructure projects and industrial applications.

Since its spin-off from a major homebuilding company in 2004, Eagle Materials has grown through targeted facility expansions and strategic acquisitions.