Franklin Resources Inc. Purchases 34,706 Shares of Eagle Materials Inc. (NYSE:EXP)

Franklin Resources Inc. increased its position in Eagle Materials Inc. (NYSE:EXP) by 21.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 197,569 shares of the construction company’s stock after buying an additional 34,706 shares during the period. Franklin Resources Inc. owned about 0.59% of Eagle Materials worth $48,752,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Barclays PLC boosted its stake in shares of Eagle Materials by 78.1% in the third quarter. Barclays PLC now owns 37,948 shares of the construction company’s stock worth $10,915,000 after acquiring an additional 16,645 shares during the period. Proficio Capital Partners LLC bought a new position in Eagle Materials in the 4th quarter worth approximately $8,890,000. Empowered Funds LLC grew its holdings in Eagle Materials by 242.4% during the 4th quarter. Empowered Funds LLC now owns 7,789 shares of the construction company’s stock valued at $1,922,000 after buying an additional 5,514 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Eagle Materials by 60.3% during the third quarter. JPMorgan Chase & Co. now owns 1,735,133 shares of the construction company’s stock valued at $499,111,000 after buying an additional 652,836 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Eagle Materials in the fourth quarter worth $38,115,000. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Eagle Materials Stock Performance

NYSE:EXP opened at $217.54 on Friday. The firm has a market capitalization of $7.24 billion, a PE ratio of 15.54 and a beta of 1.37. The stock’s fifty day moving average is $233.13 and its 200 day moving average is $264.01. Eagle Materials Inc. has a fifty-two week low of $205.44 and a fifty-two week 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 (NYSE:EXP) last announced its earnings results on Wednesday, January 29th. The construction company reported $3.59 earnings per share for the quarter, missing the consensus estimate of $3.97 by ($0.38). Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. On average, sell-side analysts anticipate that Eagle Materials Inc. will post 14.39 earnings per share for the current year.

Eagle Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 17th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.46%. Eagle Materials’s dividend payout ratio (DPR) is presently 7.14%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EXP. Loop Capital cut their target price on shares of Eagle Materials from $280.00 to $245.00 and set a “hold” rating for the company in a research note on Tuesday. Citigroup lowered Eagle Materials from a “buy” rating to a “neutral” rating and cut their price objective for the company from $334.00 to $280.00 in a research report on Monday, January 6th. Stephens reiterated an “overweight” rating and issued a $310.00 target price on shares of Eagle Materials in a research report on Thursday, January 30th. Jefferies Financial Group cut Eagle Materials from a “buy” rating to a “hold” rating and cut their price target for the company from $330.00 to $310.00 in a report on Monday, December 16th. Finally, DA Davidson decreased their price objective on Eagle Materials from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Eagle Materials presently has a consensus rating of “Hold” and an average target price of $279.40.

Insider Activity

In other Eagle Materials news, Director Michael R. Nicolais acquired 310 shares of the business’s stock in a transaction on Monday, February 10th. The shares were bought at an average price of $257.36 per share, with a total value of $79,781.60. Following the transaction, 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 position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.60% of the company’s stock.

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.