Principal Financial Group Inc. Has $22.56 Million Stock Holdings in Eagle Materials Inc. (NYSE:EXP)

Principal Financial Group Inc. reduced its position in shares of Eagle Materials Inc. (NYSE:EXP) by 31.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,435 shares of the construction company’s stock after selling 36,592 shares during the period. Principal Financial Group Inc.’s holdings in Eagle Materials were worth $22,562,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in EXP. FMR LLC grew its holdings in Eagle Materials by 30.1% during the 3rd quarter. FMR LLC now owns 3,801,257 shares of the construction company’s stock worth $1,093,432,000 after acquiring an additional 878,400 shares during the last quarter. Epoch Investment Partners Inc. grew its stake in shares of Eagle Materials by 25.2% in the second quarter. Epoch Investment Partners Inc. now owns 805,257 shares of the construction company’s stock worth $175,111,000 after purchasing an additional 162,049 shares during the last quarter. Geode Capital Management LLC increased its holdings in Eagle Materials by 3.5% in the third quarter. Geode Capital Management LLC now owns 707,607 shares of the construction company’s stock valued at $203,585,000 after purchasing an additional 23,911 shares during the period. William Blair Investment Management LLC raised its position in Eagle Materials by 4.9% during the 2nd quarter. William Blair Investment Management LLC now owns 595,276 shares of the construction company’s stock worth $129,449,000 after purchasing an additional 28,003 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in Eagle Materials by 33.4% during the 2nd quarter. Federated Hermes Inc. now owns 529,701 shares of the construction company’s stock worth $115,189,000 after buying an additional 132,677 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Eagle Materials Trading Up 0.5 %

EXP opened at $250.23 on Thursday. The company has a fifty day moving average price of $291.15 and a two-hundred day moving average price of $264.65. Eagle Materials Inc. has a 1-year low of $195.93 and a 1-year high of $321.93. The company has a market cap of $8.39 billion, a P/E ratio of 17.67 and a beta of 1.33. The company has a current ratio of 2.34, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74.

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

Eagle Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 16th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Monday, December 16th. Eagle Materials’s dividend payout ratio is currently 7.06%.

Analyst Ratings Changes

EXP has been the subject of several recent research reports. Loop Capital cut Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price target for the company. in a research note on Monday, November 25th. The Goldman Sachs Group raised their price target on shares of Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on shares of Eagle Materials from $290.00 to $310.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Jefferies Financial Group downgraded shares of Eagle Materials from a “buy” rating to a “hold” rating and lowered their target price for the stock from $330.00 to $310.00 in a research note on Monday, December 16th. Finally, Truist Financial upped their price target on shares of Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $304.89.

Insider Activity at Eagle Materials

In other Eagle Materials news, SVP Tony Thompson sold 1,401 shares of Eagle Materials stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $314.00, for a total transaction of $439,914.00. Following the completion of the transaction, the senior vice president now owns 13,212 shares in the company, valued at approximately $4,148,568. The trade was a 9.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Ross Stewart sold 3,577 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $300.30, for a total value of $1,074,173.10. Following the sale, the director now directly owns 1,100 shares of the company’s stock, valued at $330,330. This represents a 76.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,866 shares of company stock valued at $5,205,311. 1.60% of the stock is owned by company insiders.

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.