Northern Trust Corp Grows Position in Eagle Materials Inc. (NYSE:EXP)

Northern Trust Corp raised its stake in Eagle Materials Inc. (NYSE:EXP) by 8.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 286,766 shares of the construction company’s stock after buying an additional 23,355 shares during the quarter. Northern Trust Corp’s holdings in Eagle Materials were worth $70,762,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its position in shares of Eagle Materials by 3.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,801,532 shares of the construction company’s stock worth $444,546,000 after purchasing an additional 66,399 shares during the period. Geode Capital Management LLC boosted its position in shares of Eagle Materials by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 722,995 shares of the construction company’s stock worth $178,450,000 after buying an additional 15,388 shares during the period. Baupost Group LLC MA grew its stake in shares of Eagle Materials by 27.6% in the fourth quarter. Baupost Group LLC MA now owns 638,223 shares of the construction company’s stock valued at $157,488,000 after buying an additional 137,950 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Eagle Materials by 10.3% in the 4th quarter. Federated Hermes Inc. now owns 594,899 shares of the construction company’s stock valued at $146,797,000 after buying an additional 55,578 shares during the period. Finally, Epoch Investment Partners Inc. lifted its stake in Eagle Materials by 2.4% during the 4th quarter. Epoch Investment Partners Inc. now owns 592,069 shares of the construction company’s stock worth $146,099,000 after acquiring an additional 13,988 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Analyst Ratings Changes

EXP has been the topic of a number of recent research reports. Stephens reiterated an “overweight” rating and set a $310.00 price target on shares of Eagle Materials in a research note on Thursday, January 30th. DA Davidson cut their target price on shares of Eagle Materials from $265.00 to $260.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Stifel Nicolaus assumed coverage on shares of Eagle Materials in a research note on Tuesday, March 4th. They issued a “hold” rating and a $242.00 price target for the company. JPMorgan Chase & Co. cut their price objective on Eagle Materials from $310.00 to $250.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Finally, Loop Capital decreased their target price on Eagle Materials from $280.00 to $245.00 and set a “hold” rating for the company in a report on Tuesday, April 1st. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Eagle Materials presently has a consensus rating of “Hold” and a consensus target price of $274.40.

Insider Transactions at Eagle Materials

In related news, Director Michael R. Nicolais purchased 310 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were purchased at an average cost of $257.36 per share, for a total transaction of $79,781.60. Following the purchase, the director now directly owns 3,655 shares of the company’s stock, valued at $940,650.80. The trade was a 9.27 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.60% of the company’s stock.

Eagle Materials Trading Up 0.5 %

NYSE:EXP opened at $235.20 on Tuesday. The stock has a 50-day simple moving average of $220.16 and a 200-day simple moving average of $252.71. The stock has a market cap of $7.83 billion, a P/E ratio of 16.80 and a beta of 1.25. Eagle Materials Inc. has a 1 year low of $201.61 and a 1 year high of $321.93. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 2.76.

Eagle Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Shareholders of record on Monday, March 17th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. Eagle Materials’s payout ratio is currently 7.14%.

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.