Principal Financial Group Inc. sells 71,045 shares of Eagle Materials Inc. (NYSE:EXP)

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Principal Financial Group Inc. reduced its stake in Eagle Materials Inc. (NYSE: EXPGet a rating) by 34.1% during the 1st quarter, according to its most recent Form 13F filed with the Securities and Exchange Commission (SEC). The fund held 137,081 shares of the construction company after selling 71,045 shares during the quarter. Principal Financial Group Inc. owned approximately 0.35% of Eagle Materials worth $17,595,000 at the time of its last filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently changed their EXP holdings. JPMorgan Chase & Co. increased its stake in Eagle Materials shares by 453.5% in the fourth quarter. JPMorgan Chase & Co. now owns 540,436 shares of the construction company worth $89,961,000 after buying an additional 442,802 shares in the last quarter. Victory Capital Management Inc. increased its stake in Eagle Materials by 61.5% in the first quarter. Victory Capital Management Inc. now owns 625,280 shares of the construction company worth $78,442,000 after purchasing an additional 238,048 shares during the period. Invesco Ltd. increased its stake in Eagle Materials by 5.1% in the fourth quarter. Invesco Ltd. now owns 1,343,963 shares of the construction company worth $223,714,000 after purchasing an additional 65,753 shares during the period. Qube Research & Technologies Ltd increased its stake in Eagle Materials by 851.9% in the first quarter. Qube Research & Technologies Ltd now owns 68,910 shares of the construction company worth $8,845,000 after purchasing an additional 61,671 shares during the period. Finally, Point72 Asset Management LP increased its holdings in Eagle Materials by 249.7% in the fourth quarter. Point72 Asset Management LP now owns 76,260 shares of the construction company worth $12,694,000 after purchasing an additional 54,455 shares during the period. 96.87% of the shares are held by institutional investors.

Insiders place their bets

In other Eagle Materials news, Director Ed H. Bowman, Jr. sold 1,828 shares of Eagle Materials in a trade that took place on Friday, June 17. The shares were sold at an average price of $110.15, for a total value of $201,354.20. Following the completion of the sale, the director now owns 10,485 shares of the company, valued at approximately $1,154,922.75. The transaction was disclosed in a legal filing with the SEC, available at the SEC website. In other news, Executive Vice Chairman James H. Graass sold 2,856 shares of the company in a trade on Wednesday, June 1. The shares were sold at an average price of $131.02, for a total transaction of $374,193.12. Following the completion of the sale, the executive vice president now owns 14,294 shares of the company, valued at approximately $1,872,799.88. The sale was disclosed in a legal filing with the SEC, available at this hyperlink. Additionally, director Ed H. Bowman, Jr. sold 1,828 shares of the company in a trade on Friday, June 17. The shares were sold at an average price of $110.15, for a total transaction of $201,354.20. Following the sale, the director now directly owns 10,485 shares of the company, valued at approximately $1,154,922.75. Disclosure of this sale can be found here. Last quarter, insiders sold 13,776 shares of the company valued at $1,712,229. Insiders of the company own 1.60% of the shares of the company.

Eagle Material Price Performance

Shares of EXP opened at $131.20 on Friday. The company has a market capitalization of $4.94 billion, a P/E ratio of 13.61 and a beta of 1.29. The company has a quick ratio of 1.37, a current ratio of 2.39 and a leverage ratio of 1.00. The company has a 50-day moving average of $119.53 and a 200-day moving average of $126.71. Eagle Materials Inc. has a 12-month low of $105.34 and a 12-month high of $169.15.

Eagle materials (NYSE: EXPGet a rating) last reported results on Thursday, May 19. The construction company reported EPS of $1.90 for the quarter, beating analyst consensus estimates of $1.74 by $0.16. Eagle Materials had a net margin of 19.72% and a return on equity of 33.25%. The company posted revenue of $413.10 million in the quarter, versus a consensus estimate of $400.68 million. In the same quarter a year earlier, the company posted EPS of $1.56. The company’s revenue increased 20.3% year over year. As a group, equity research analysts expect Eagle Materials Inc. to post earnings per share of 11.41 for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14. Shareholders of record on Friday, September 16 will receive a dividend of $0.25. This represents a dividend of $1.00 on an annualized basis and a yield of 0.76%. The ex-dividend date is Thursday, September 15. Eagle Materials’ dividend payout ratio (DPR) is currently 10.37%.

Analysts set new price targets

Several analysts have commented on EXP shares. JPMorgan Chase & Co. downgraded shares of Eagle Materials from an ‘overweight’ rating to a ‘neutral’ rating and lowered its price target for the stock from $165.00 to $130.00 in a report Wednesday, July 20. Citigroup raised its price target on shares of Eagle Materials to $146.00 in a Tuesday, August 9 report. Goldman Sachs Group lowered its price target on Eagle Materials shares from $190.00 to $162.00 and set a “buy” rating for the company in a Friday, May 20 report. Truist Financial lowered its price target on Eagle Materials shares from $172.00 to $155.00 and set a “buy” rating for the company in a Monday, May 23 report. To finish, StockNews.com upgraded Eagle Materials shares from a “hold” to a “buy” rating in a Friday, July 29 report. Five investment analysts gave the stock a hold rating and eight gave the stock a buy rating. According to MarketBeat.com, Eagle Materials currently has an average rating of “Moderate Buy” and an average price target of $159.09.

Eagle Materials Profile

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Eagle Materials Inc, through its subsidiaries, produces and supplies heavy building materials and light building materials in the United States. It operates through the cement, concrete and aggregates, gypsum board and recycled paperboard segments. The company is engaged in the extraction of limestone for the manufacture, production, distribution and sale of Portland cement; crushing and sale of slag; and the extraction of gypsum for the manufacture and sale of plasterboard used for finishing interior walls and ceilings in residential, commercial and industrial structures.

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Institutional ownership by quarter for Eagle Materials (NYSE:EXP)



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