Principal Financial Group Inc. Increases Stake in Eagle Materials Inc. (NYSE:EXP)

Principal Financial Group Inc. lifted its stake in shares of Eagle Materials Inc. (NYSE:EXPGet Rating) by 14.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,587 shares of the construction company’s stock after acquiring an additional 19,506 shares during the period. Principal Financial Group Inc.’s holdings in Eagle Materials were worth $17,215,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Russell Investments Group Ltd. lifted its holdings in shares of Eagle Materials by 138.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 55,985 shares of the construction company’s stock worth $6,152,000 after acquiring an additional 32,520 shares during the period. Oak Thistle LLC purchased a new position in Eagle Materials in the first quarter valued at approximately $260,000. Centaurus Financial Inc. raised its holdings in Eagle Materials by 2.1% in the second quarter. Centaurus Financial Inc. now owns 4,785 shares of the construction company’s stock valued at $526,000 after buying an additional 100 shares during the period. Swiss National Bank raised its holdings in Eagle Materials by 2.0% in the second quarter. Swiss National Bank now owns 93,100 shares of the construction company’s stock valued at $10,235,000 after buying an additional 1,800 shares during the period. Finally, Callahan Advisors LLC raised its holdings in Eagle Materials by 46.3% in the second quarter. Callahan Advisors LLC now owns 23,942 shares of the construction company’s stock valued at $2,632,000 after buying an additional 7,580 shares during the period. 93.41% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Materials Stock Performance

EXP stock opened at $134.34 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.46 and a current ratio of 2.48. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 12.32 and a beta of 1.29. Eagle Materials Inc. has a 1 year low of $101.98 and a 1 year high of $169.15. The stock’s fifty day moving average is $117.94 and its two-hundred day moving average is $120.49.

Eagle Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 12th. Shareholders of record on Friday, December 16th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Thursday, December 15th. Eagle Materials’s payout ratio is 9.17%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. The Goldman Sachs Group cut their price target on shares of Eagle Materials from $146.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, October 14th. Raymond James cut their price target on shares of Eagle Materials from $145.00 to $140.00 and set an “outperform” rating on the stock in a report on Thursday, October 27th. StockNews.com assumed coverage on shares of Eagle Materials in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. Citigroup raised their price target on shares of Eagle Materials to $138.00 in a report on Thursday, October 27th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Eagle Materials from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, September 22nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eagle Materials has a consensus rating of “Moderate Buy” and an average target price of $150.11.

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.

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Institutional Ownership by Quarter for Eagle Materials (NYSE:EXP)

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