Principal Financial Group Inc. Sells 36,592 Shares of Eagle Materials Inc. (NYSE:EXP)

Principal Financial Group Inc. decreased its holdings in Eagle Materials Inc. (NYSE:EXP) by 31.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,435 shares of the construction company’s stock after selling 36,592 shares during the period. Principal Financial Group Inc. owned about 0.23% of Eagle Materials worth $22,562,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in EXP. Cambridge Investment Research Advisors Inc. raised its stake in Eagle Materials by 36.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 5,765 shares of the construction company’s stock valued at $1,254,000 after acquiring an additional 1,545 shares during the period. Banco Santander S.A. bought a new position in shares of Eagle Materials in the second quarter valued at about $551,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Eagle Materials by 12.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,284 shares of the construction company’s stock worth $1,584,000 after buying an additional 800 shares during the last quarter. Pinnacle Wealth Management LLC bought a new stake in shares of Eagle Materials during the 2nd quarter worth about $1,300,000. Finally, Commonwealth Equity Services LLC grew its stake in Eagle Materials by 7.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,717 shares of the construction company’s stock valued at $591,000 after buying an additional 180 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group cut Eagle Materials from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $330.00 to $310.00 in a report on Monday, December 16th. Truist Financial upped their price objective on Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. lifted their target price on Eagle Materials from $290.00 to $310.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Loop Capital downgraded shares of Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price target on the stock. in a research note on Monday, November 25th. Finally, 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 research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $304.89.

Eagle Materials Price Performance

EXP stock opened at $250.23 on Thursday. The company’s 50-day moving average price is $291.15 and its two-hundred day moving average price is $264.65. The firm 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 quick ratio of 1.14, a current ratio of 2.34 and a debt-to-equity ratio of 0.74. Eagle Materials Inc. has a 12 month low of $195.93 and a 12 month high of $321.93.

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

Eagle Materials Announces Dividend

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

Insider Activity at Eagle Materials

In other news, CEO Michael Haack sold 11,888 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $310.50, for a total value of $3,691,224.00. Following the completion of the transaction, the chief executive officer now owns 85,811 shares of the company’s stock, valued at approximately $26,644,315.50. This represents a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Ross Stewart sold 3,577 shares of Eagle Materials stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $300.30, for a total transaction of $1,074,173.10. Following the sale, the director now directly owns 1,100 shares in the company, valued at $330,330. This trade represents a 76.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,866 shares of company stock valued at $5,205,311 over the last ninety days. 1.60% of the stock is owned by corporate 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.