Pinebridge Investments L.P. Sells 141 Shares of Eagle Materials Inc. (NYSE:EXP)

Pinebridge Investments L.P. lowered its stake in shares of Eagle Materials Inc. (NYSE:EXPGet Rating) by 4.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,003 shares of the construction company’s stock after selling 141 shares during the quarter. Pinebridge Investments L.P.’s holdings in Eagle Materials were worth $385,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of EXP. JPMorgan Chase & Co. increased its position in Eagle Materials by 453.5% during the fourth quarter. JPMorgan Chase & Co. now owns 540,436 shares of the construction company’s stock worth $89,961,000 after acquiring an additional 442,802 shares during the period. Victory Capital Management Inc. increased its position in Eagle Materials by 61.5% during the first quarter. Victory Capital Management Inc. now owns 625,280 shares of the construction company’s stock worth $78,442,000 after acquiring an additional 238,048 shares during the period. Invesco Ltd. increased its position in Eagle Materials by 5.1% during the fourth quarter. Invesco Ltd. now owns 1,343,963 shares of the construction company’s stock worth $223,714,000 after acquiring an additional 65,753 shares during the period. Qube Research & Technologies Ltd increased its position in Eagle Materials by 851.9% during the first quarter. Qube Research & Technologies Ltd now owns 68,910 shares of the construction company’s stock worth $8,845,000 after acquiring an additional 61,671 shares during the period. Finally, Point72 Asset Management L.P. increased its position in Eagle Materials by 249.7% during the fourth quarter. Point72 Asset Management L.P. now owns 76,260 shares of the construction company’s stock worth $12,694,000 after acquiring an additional 54,455 shares during the period. Institutional investors own 93.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. downgraded shares of Eagle Materials from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $165.00 to $130.00 in a research note on Wednesday, July 20th. Stephens decreased their price target on shares of Eagle Materials to $170.00 in a research note on Tuesday, July 26th. The Goldman Sachs Group decreased their price target on shares of Eagle Materials from $190.00 to $162.00 and set a “buy” rating on the stock in a research note on Friday, May 20th. StockNews.com upgraded shares of Eagle Materials from a “hold” rating to a “buy” rating in a research note on Friday, July 29th. Finally, Truist Financial decreased their price target on shares of Eagle Materials from $172.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, May 23rd. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Eagle Materials currently has a consensus rating of “Moderate Buy” and an average price target of $159.09.

Insider Buying and Selling

In related news, Director Ed H. Bowman, Jr. sold 1,828 shares of the company’s stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $110.15, for a total transaction of $201,354.20. Following the transaction, the director now owns 10,485 shares in the company, valued at approximately $1,154,922.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

Eagle Materials Stock Down 1.4 %

Shares of NYSE EXP opened at $120.55 on Wednesday. The firm’s 50-day simple moving average is $121.06 and its 200 day simple moving average is $125.67. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 12.51 and a beta of 1.29. The company has a quick ratio of 1.37, a current ratio of 2.39 and a debt-to-equity ratio of 1.00. Eagle Materials Inc. has a 12-month low of $105.34 and a 12-month high of $169.15.

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.00 annualized dividend and a yield of 0.83%. Eagle Materials’s dividend payout ratio (DPR) is 10.37%.

Eagle Materials Company Profile

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Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials and light building materials in the United States. It operates through Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard segments. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland 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.

Further Reading

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